Children's book seller Educational Development's Q3 net revenue falls
Overview
Children's book publisher's fiscal Q3 net revenue fell to $7 mln from $11.1 mln yr/yr
Net earnings rose to $7.8 mln, aided by a $12.2 mln gain from building sale
Company completed sale and leaseback of headquarters, improving cash flow by $1 mln annually
Outlook
Company aims to improve cash flow by $1.0 mln annually from strategic sale
EDC focuses on returning to cash flow positive and growing PaperPie division
Result Drivers
HEADQUARTERS SALE - Strategic sale and leaseback of headquarters generated $12.2 mln gain, aiding financial results
CASH FLOW IMPROVEMENT - Sale and leaseback improved annual cash flow by $1 mln, eliminating loan payments
INVENTORY REDUCTION - Reduced inventory levels by $1.5 mln, increasing cash position to $3.4 mln
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $7 mln |
|
Q3 EPS |
| $0.91 |
|
Q3 Net Income |
| $7.80 mln |
|
Press Release: ID:nNFC5WKC7c
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