BUSINESS SEGMENTS

9 Months Ended

Nov. 30, 2020

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 8 – BUSINESS SEGMENTS

We have two reportable segments: Usborne Books & More (“UBAM”) and Publishing. These reportable segments are business units that offer different methods of distribution to different types of customers. They are managed separately based on the fundamental differences in their operations. Our UBAM segment markets its products through a network of independent sales consultants using a combination of internet sales, direct sales, home shows and book fairs. Our Publishing segment markets its products to retail accounts, which include book, school supply, toy and gift stores and museums, through commissioned sales representatives, trade and specialty wholesalers and our internal tele-sales group.

The accounting policies of the segments are the same as those of the rest of the Company. We evaluate segment performance based on earnings before income taxes of the segments, which is defined as segment net revenues reduced by cost of sales and direct expenses. Corporate expenses, depreciation, interest expense and income taxes are not allocated to the segments but are listed in the “Other” row below. Corporate expenses include the executive department, accounting department, information services department, general office management, warehouse operations and building facilities management. Our assets and liabilities are not allocated on a segment basis.

Information by reporting segment for the three- and nine-month periods ended November 30, 2020 and 2019, are as follows:

NET REVENUES
	Three Months Ended November 30,				Nine Months Ended November 30,
	2020		2019		2020		2019
Publishing	$	2,580,600	$	2,724,200	$	6,284,600	$	7,766,300
UBAM		64,169,700		38,100,400		158,007,500		85,083,700
Total	$	66,750,300	$	40,824,600	$	164,292,100	$	92,850,000

EARNINGS (LOSS) BEFORE INCOME TAXES
	Three Months Ended November 30,						Nine Months Ended November 30,
	2020			2019			2020			2019
Publishing	$	773,000		$	832,900		$	1,858,400		$	2,253,300
UBAM		10,821,600			6,501,200			26,311,300			14,358,500
Other		(5,820,300	)		(3,498,400	)		(13,952,000	)		(9,562,900	)
Total	$	5,774,300		$	3,835,700		$	14,217,700		$	7,048,900