Educational Development Corp rises on upbeat Q1 earnings forecast

Educational Development

17/06/2021 15:26

** Shares of educational children's books publisher  EDUC.O 
up 7.3% to $12.99, their biggest pct gain since May 19
    ** Co sees Q1 net revenue of ~$40.8 mln, a 6.5% rise YoY,
and EPS between $0.38 and $0.41, also higher than $0.23/shr
profit from last year  urn:newsml:reuters.com:*:nGNX9WNzwT
    ** Net rev from publishing division surges 128.6% to ~$3.2
mln from a year-ago period as stores began to re-open and
customers are returning to in-person shopping following COVID-19
lockdown last year
    ** EDUC's Usborne Books & More (UBAM) division averaged
~55,100 active consultants during Q1, an increase of 66%
    ** Co to declare results on July 7 after market close
    ** Shares down 21.2% for the year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))