Sales rose 18% at Educational Development Corp. in the first quarter of fiscal 2018, which ended May 31, over the same period a year ago. Revenue in the most recent period was $26.9 million, up from $22.8 million in the first quarter of fiscal 2017.
The sales rise was accompanied by an almost doubling of net earnings in the quarter. Profits jumped from $620,160 last year to $1.2 million in this year's first quarter.
Company chairman Randall White said the much-improved earnings was the results of systems upgrades EDC has made over the last year to accommodate its higher sales level.
As usual, EDC's direct sales division led the sales increase with revenue up 20% in the quarter, to $20.6 million. During the period, EDC added 7,000 new sales consultants, finishing the quarter with 27,600 direct sales reps. Sales in the publishing division were flat in the period, at $2.1 million.
