0001171843-12-002092.txt : 20120601 0001171843-12-002092.hdr.sgml : 20120601 20120531175328 ACCESSION NUMBER: 0001171843-12-002092 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120531 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120601 DATE AS OF CHANGE: 20120531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EDUCATIONAL DEVELOPMENT CORP CENTRAL INDEX KEY: 0000031667 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190] IRS NUMBER: 730750007 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-04957 FILM NUMBER: 12881327 BUSINESS ADDRESS: STREET 1: 10302 E 55TH PL #B CITY: TULSA STATE: OK ZIP: 74146 BUSINESS PHONE: 9186224522 MAIL ADDRESS: STREET 1: PO BOX 470663 CITY: TULSA STATE: OK ZIP: 741460663 FORMER COMPANY: FORMER CONFORMED NAME: TUTOR TAPES INTERNATIONAL CORP DATE OF NAME CHANGE: 19701030 FORMER COMPANY: FORMER CONFORMED NAME: INTERNATIONAL TEACHING TAPES INC DATE OF NAME CHANGE: 19701030 8-K/A 1 f8ka_053112.htm FORM 8-K/A f8ka_053112.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K/A
 
AMENDMENT TO CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 31, 2012 (February 29, 2012)

EDUCATIONAL DEVELOPMENT CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware 0-4957 73-0750007
(State or other jurisdiction of (Commission file number) (I.R.S. Employer
incorporation or organization)   Identification No.)
 
10302 East 55th Place, Tulsa, Oklahoma 74146-6515
(Address of principal executive offices and Zip Code)

(918) 622-4522
(Registrant’s telephone number, including area code)
 
N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
EXPLANATORY NOTE

                   This Current Report on Form 8-K/A (the “Amended Report”) amends the Current Report on Form 8-K (the “Original Report”) filed by Educational Development Corporation with the Securities and Exchange Commission on May 31, 2012.  The Amended Report is being filed to correct a typographical error in the fourth paragraph of the press release exhibit under Item 9.01 of the Original Report to replace “June 8, 2012” with “June 15, 2012.”  Except as described above, no other amendments have been made to the Original Report.

 
ITEM 2.02
RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 31, 2012, Educational Development Corporation, announced via press release, fiscal 2012 results.  A copy of the press release is attached hereto.


ITEM 8.01
OTHER EVENTS

On May 31, 2012, Educational Development Corporation declares via press release, a quarterly dividend.  A copy of the press release is attached hereto.


ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS

(d)           EXHIBITS

99.1 Press release dated as of May 31, 2012



 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
Educational Development Corporation
  
     
By:
/s/ Randall W. White
  
 
Randall W. White
President and Chief Executive Officer
  
 

Date:  May 31, 2012
 
 
 

 
 
 
 
EXHIBIT INDEX
 
EXHIBIT
NUMBER
   DESCRIPTION
     
*99.1  
Press release dated as of May 31, 2012
 
 
________
*Filed herewith.

 EX-99.1 2 exh_991.htm EXHIBIT 99.1 Educational Development Corporation Announces Fiscal 2012 Results and Quarterly Dividend

EXHIBIT 99.1

Educational Development Corporation Announces Fiscal 2012 Results and Quarterly Dividend

TULSA, Okla., May 31, 2012 (GLOBE NEWSWIRE) -- Development Corporation (Nasdaq:EDUC) (http://www.edcpub.com) today reported results for the fiscal fourth quarter and the full year ended February 29, 2012, along with their quarterly cash dividend.

For the fiscal year 2012, the Company reports net revenue of $26,273,300, a decrease of $969,900 when compared to $27,243,200 for the previous year and net earnings of $1,420,900 compared to $1,168,200. Earnings per share were $0.36 compared to $0.30 the previous year on a fully diluted basis.

For the fourth quarter 2012, the Company announced net revenues of $5,881,400 compared to $5,712,800 for the same period last year. The Company reported 2012 fourth quarter net earnings of $269,600 compared with $12,900 for the 2011 fourth quarter resulting in earnings per share of $0.07 per share for 2012 fourth quarter and $0.00 for 2011 fourth quarter on a fully diluted basis.

The Board of Directors has authorized a $0.12 per share cash dividend. The dividend will be paid on June 22, 2012 to shareholders of record June 15, 2012.

         
         
EDUCATIONAL DEVELOPMENT CORPORATION
CONDENSED STATEMENTS OF EARNINGS (UNAUDITED)
  Three Months Ended February 29 (28), Twelve Months Ended February 29 (28),
  2012 2011 2012 2011
         
NET REVENUES  $ 5,881,400   $ 5,712,800   $ 26,273,300   $ 27,243,200 
EARNINGS BEFORE INCOME TAXES  430,000   18,500   2,277,700   1,870,200 
INCOME TAXES  160,400   5,600   856,800   702,000 
NET EARNINGS  $ 269,600   $ 12,900   $ 1,420,900   $ 1,168,200 
         
         
 BASIC AND DILUTED EARNINGS PER SHARE:      
 Basic  $ 0.07   $ 0.00   $ 0.36   $ 0.30 
 Diluted  $ 0.07   $ 0.00   $ 0.36   $ 0.30 
         
         
 WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:        
 Basic  3,906,929   3,901,319   3,898,145   3,887,895 
 Diluted  3,906,929   3,904,601   3,898,793   3,890,384 
         

About Educational Development Corporation

Educational Development Corporation sells children's books, including Usborne Books and the Kane/Miller line of international children's titles through a multi-level sales organization of independent consultants, through 5,000 retail stores and over the Internet. More than 1,600 different titles are available for children of all ages, with periodic new additions.

The Educational Development logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5083

CONTACT: Educational Development Corporation
         Randall White, (918) 622-4522