0001171843-15-006946.txt : 20151222 0001171843-15-006946.hdr.sgml : 20151222 20151222135016 ACCESSION NUMBER: 0001171843-15-006946 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20151130 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20151222 DATE AS OF CHANGE: 20151222 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 SEC ACT: 1934 Act SEC FILE NUMBER: 000-04957 FILM NUMBER: 151301649 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 1 gff8k_122215.htm FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (Date of earliest event reported): December 22, 2015 (November 30, 2015)

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))

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On December 22, 2015, Educational Development Corporation announced via press release, record unaudited net revenues for the month of October 2015. A copy of the press release is attached hereto.

ITEM 8.01 OTHER EVENTS

On December 22, 2015, 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 December 22, 2015

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: December 22, 2015

EXHIBIT INDEX

EXHIBIT
NUMBER		DESCRIPTION

*99.1		Press release dated as of December 22, 2015

_________

*Filed herewith.

EX-99.1 2 exh_991.htm EXHIBIT 99.1 EdgarFiling

EXHIBIT 99.1

Educational Development Corporation Announces Record Net Revenues for Quarter Ended November 30, 2015

TULSA, Okla., Dec. 22, 2015 (GLOBE NEWSWIRE) -- Randall White, CEO, Educational Development Corporation ("EDC") (NASDAQ:EDUC) (http://www.edcpub.com) announces record net revenues for the Quarter ended November 30th, 2015, of $24,427,000 compared to $10,936,700 for the same quarter last year, an increase of 123%. Usborne Books & More (UBAM) led the way with $21,768,400 compared to $7,931,100 for last year, an increase of 174%. The EDC Publishing Division sales were off due to timing differences from when orders are received from customers.

Mr. White states that preliminary, unaudited results for the quarter indicate a significant improvement in operational margins which resulted from the increased net revenue and cost saving programs previously implemented. Mr. White expects the net income for the quarter to surpass the net income for the full previous year with estimates of $0.34-0.37 for the quarter, compared to $.013 for the quarter last year and $0.21 for last fiscal year. The increase in UBAM’s net revenue was primarily due to 7,341 new sales associates joining the organization from September through November 30th, 2015, which now number over 17,300. The increase in net revenues has continued and the Company expects another record for the month of December 31, 2015, as December net revenue month-to-date has already doubled this month last year.

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.

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