Educational Development Clocks 44% Revenue Decline In Q2

by Shivani Kumaresan, Benzinga Staff Writer

October 7, 2021 1:59 PM | 1 min read

Educational Development Corporation (NASDAQ: EDUC) reported a second-quarter FY22 net revenue decline of 44.4% year-on-year, to $32.94 million. The average active UBAM sales consultants totaled 46,100.
Earnings before income taxes fell 53.4% Y/Y to $2.7 million, representing 8.1% of net revenues.
Net earnings of $1.9 million declined 55.8% Y/Y. EPS of $0.23 decreased 54.9% Y/Y.
The board approved a quarterly cash dividend of $0.10 per share, payable on or around December 9, 2021, to shareholders of record on November 18, 2021.
Price action: EDUC shares are trading lower by 5.60% at $9.44 on the last check Thursday.