Educational Development Corporation (EDUC) CEO Randall White on Q2 2021 Results - Earnings Call Transcript

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Educational Development Corporation (NASDAQ:EDUC) Q2 2021 Earnings Conference Call October 13, 2020 4:00 PM ET

Company Participants

Randall White - CEO

Heather Cobb - Chief Sales and Marketing Officer

Craig White - Chief Operating Officer

Dan O'Keefe - CFO


Ladies and gentlemen, thank you for standing by and welcome to the Fiscal 2021 Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

I would now like to hand the conference over to your speaker today, Mr. Randall White. Please go ahead, sir.

Randall White

Hello there, investors, welcome to our call today. Before we get started, I'd like for you guys to know that today is a unique day in our history. We closed at the highest all time price in our history, $19.17 is what I show, but that's the first time it’s closed over 19. But the best is yet to come this is just a start.

With me today I have Heather Cobb, our Chief Sales and Marketing Officer. I also have Craig White, our Chief Operating Officer and I’ve Dan O'Keefe, our CFO. And I'm going to hand it over to Dan while I do a little Irish jig in the background. So let's go, Dan.

Dan O'Keefe

Thanks, Randall. Here's a brief summary of our second quarter results. Net revenues for the second quarter of fiscal 2021 were approximately $59.3 million, up to $34.8 million or 143% from approximately $24.4 million reported in the second quarter of fiscal 2020.

Pretax profits for the second quarter totaled $5.8 million, an increase of $4.4 million over the pre-tax profit of $1.4 million reported in the second quarter last year. Pretax profit as a percentage of net revenues increased from 5.7% in the second quarter of fiscal 2020 to 9.8% in the second quarter of fiscal 2021.

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