Educational Development Corporation (EDUC) has reported a 34.99 percent jump in profit for the year ended Feb. 28, 2017. The company has earned $2.86 million, or $0.70 a share in the year, compared with $2.12 million, or $0.52 a share for the last year. Revenue during the year surged 67.61 percent to $106.63 million from $63.62 million in the previous year.
Randall White, chief executive officer of Educational Development Corporation, announced that for the fiscal year 2017, the Company reports record net revenues of $106,628,100, an increase of $43,009,800, or 68%, when compared to $63,618,300 for the previous year. Fiscal 2017 net earnings totaled $2,860,900, compared to $2,119,300 in fiscal 2016, an increase of 35%. Fiscal year 2017 earnings per share were $0.70 compared to $0.52 the previous year, up 34% on a fully diluted basis.
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