Education Publisher Ditches Amazon, Sales Soar

For the six-month period ended Aug. 31, 2015, revenue at Educational Development Corp., which sells children’s books under the Kane Miller and Usborne imprints, jumped to $22.2 million, up 59% compared to the same period in 2014, and net income soared by over 300%, to $969,000. Sparked by those figures, EDC’s stock price rose from $4.69 per share on June 1 to $14.48 on December 10, more than a 200% gain. And for the first nine months of the current fiscal year (March through November), Randall White, chairman, president, and CEO of EDC, estimated that revenue was about $47 million—far higher than the $32 million in sales the company generated for the fiscal year ended Feb. 28, 2015.