$EDUC

EDUCATIONAL DEVELOPMENT CORP

CIK:0000031667|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
CONDENSED STATEMENTS OF OPERATIONS - USD ($)	May 31, 2026	May 31, 2025
NET REVENUES	$ 4,755,800	$ 7,106,400
COST OF GOODS SOLD	1,934,500	2,969,300
Gross margin	2,821,300	4,137,100
OPERATING EXPENSES
Operating and selling	677,000	994,600
Sales commissions	1,348,700	2,012,100
General and administrative	2,070,400	2,694,900
Total operating expenses	4,096,100	5,701,600
INTEREST EXPENSE	600	504,300
OTHER (INCOME) LOSS	103,700	(619,500)
LOSS BEFORE INCOME TAXES	(1,379,100)	(1,449,300)
INCOME TAX EXPENSE (BENEFIT)	16,500	(374,100)
NET LOSS	$ (1,395,600)	$ (1,075,200)
BASIC AND DILUTED LOSS PER SHARE
Basic (in Dollars per share)	$ (0.16)	$ (0.13)
Diluted (in Dollars per share)	$ (0.16)	$ (0.13)
WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:
Basic (in Shares)	8,511,364	8,583,201
Diluted (in Shares)	8,511,364	8,583,201
Dividends per share (in Dollars per share)	$ 0	$ 0
Product revenues
PRODUCT REVENUES, net of discounts and allowances	$ 4,537,400	$ 6,764,800
Transportation revenue
PRODUCT REVENUES, net of discounts and allowances	$ 218,400	$ 341,600

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	May 31, 2026	May 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,395,600)	$ (1,075,200)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	273,100	366,100
Deferred income taxes	0	(390,600)
Provision for credit losses	6,000	12,000
Provision for inventory valuation allowance	36,000	36,000
Net loss (gain) on sale of assets	(800)	57,000
Impairment loss on assets	113,600	0
Changes in assets and liabilities:
Accounts receivable	284,800	113,700
Inventories - net	1,418,800	2,611,900
Prepaid expenses and other assets	(108,900)	(47,800)
Accounts payable	(68,200)	(329,000)
Accrued salaries and commissions and other liabilities	(97,800)	(166,400)
Deferred revenues	96,500	(26,300)
Income taxes payable/receivable	6,800	235,100
Total adjustments	1,959,900	2,471,700
Net cash provided by operating activities	564,300	1,396,500
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment	(96,000)	(207,400)
Proceeds from sale of assets	800	45,000
Net cash used in investing activities	(95,200)	(162,400)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments on term debt	0	(450,000)
Net cash used in financing activities	0	(450,000)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	469,100	784,100
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - BEGINNING OF PERIOD	1,340,400	976,500
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - END OF PERIOD	1,809,500	1,760,600
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION
Cash paid for interest	600	468,300
Cash (received)/paid for income taxes - net of refunds	9,700	(218,600)
NONCASH TRANSACTIONS
Leased assets obtained in exchange for operating lease liabilities	$ 305,100	$ 26,200

CONDENSED BALANCE SHEETS - USD ($)	May 31, 2026	Feb. 28, 2026
CURRENT ASSETS:
Cash and cash equivalents	$ 1,662,500	$ 1,118,400
Restricted cash	147,000	222,000
Accounts receivable, less allowance for credit losses of $73,000 (May 31) and $109,600 (February 28)	570,500	861,300
Inventories - net	16,059,900	17,412,200
Prepaid expenses and other assets	496,400	374,600
Assets held for sale	450,000	563,600
Total current assets	19,386,300	20,552,100
INVENTORIES - net	20,149,200	20,251,700
PROPERTY, PLANT AND EQUIPMENT - net	6,120,800	6,291,200
OPERATING LEASE RIGHT-OF-USE ASSETS	6,742,000	6,716,100
OTHER ASSETS	480,900	500,500
TOTAL ASSETS	52,879,200	54,311,600
CURRENT LIABILITIES:
Accounts payable	1,618,200	1,686,400
Deferred revenues	417,000	320,500
Operating lease liabilities, current	1,315,900	1,371,700
Accrued salaries and commissions	311,700	218,600
Income taxes payable	1,153,600	1,146,800
Other current liabilities	1,241,600	1,427,500
Total current liabilities	6,058,000	6,171,500
OPERATING LEASE LIABILITIES, noncurrent	5,426,100	5,344,400
OTHER LONG-TERM LIABILITIES	200	5,200
Total liabilities	11,484,300	11,521,100
SHAREHOLDERS’ EQUITY:
Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,702,080 shares; Outstanding 8,511,364 (May 31 and February 28) shares	2,540,400	2,540,400
Capital in excess of par value	13,769,400	13,769,400
Retained earnings	38,232,600	39,628,200
Stockholders' Equity before Treasury Stock	54,542,400	55,938,000
Less treasury stock, at cost	(13,147,500)	(13,147,500)
Total shareholders’ equity	41,394,900	42,790,500
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 52,879,200	$ 54,311,600