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Educational Development Corporation Announces Record Fiscal First Quarter Estimated Net Revenues, Earnings and Active Sales Consultants in the Company’s UBAM Division

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TULSA, Okla., June 16, 2021 (GLOBE NEWSWIRE) — Educational Development Corporation (“EDC”, or the “Company”) (NASDAQ: EDUC) (http://www.edcpub.com) reports that the Company has estimated net revenues in fiscal first quarter 2022 totaling approximately $40.8 million. This represents an increase of $2.5 million, or 6.5%, from net revenues achieved in fiscal first quarter 2021 of $38.3 million.   The Company estimates earning per share for the quarter between $0.38 and $0.41, which is an increase over the earnings of $0.23 per share reported for the first quarter of fiscal 2021. The Company’s Usborne Books & More (UBAM) division averaged approximately 55,100 active consultants during the first quarter, an increase of 66% over 33,100 average active consultants reported for the first quarter last year.

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