Despite a 3% decline in revenue in the fiscal year ended February 29, to $26.3 million, net earnings at Educational Development Corp. increased to $1.4 million from $1.2 million. At the end of its fiscal year in February, EDC announced that it would no longer sell its titles through Amazon.
During fiscal 2012, sales in the Usborne Books and More division fell to $15.3 million from $17.4 million due in part to a 21% decline in sales through home shows. By cutting ties with Amazon, EDC hopes its home show unit, which had 6,100 home sales reps at the end of the year, will receive a boost. The decline at UBAM was partially offset by an increase in its publishing division where sales rose to just under $11 million from $9.8 million. The increase was driven by a 21.9% gain in sales to small retail stores and an 18% increase in sales to national chain stores, EDC reported in its 10-K filing.
