Publishing firm Educational Development's Q1 revenue falls 29%
Overview
Educational Development Corp fiscal Q1 revenue fell to $7.1 mln from $10.0 mln
Net loss narrowed to $1.1 mln from $1.3 mln, reflecting cost reductions
Company ran discount promotions to increase cash, impacting gross margins
Outlook
Company aims to turn excess inventory to pay down debts.
EDC expects Hilti Complex sale to retire outstanding debt balances.
Company anticipates limited borrowing needs after Hilti Complex sale.
EDC implementing cost savings and technology updates for future growth.
Result Drivers
DISCOUNT PROMOTIONS - Product discount promotions aimed at increasing cash flow reduced gross margins, per CEO Craig White
COST REDUCTIONS - Implemented cost reductions helped narrow net loss despite lower sales
INVENTORY MANAGEMENT - Excess inventory being turned into cash to strengthen financial position and meet lender requirements
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $7.10 mln |
|
Q1 EPS |
| -$0.13 |
|
Q1 Net Income |
| -$1.10 mln |
|
Q1 Pretax Profit |
| -$1.40 mln |
|
Press Release: ID:nNFC8sF9HJ
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