Educational Development (EDUC) 17 Oct 172018 Q2 Earnings call transcript

Company Profile

Participants

Randall White	CEO
Dan O'Keefe	CFO
Heather Cobb	VP of UBAM
Craig White	VP of Information Technology
Paul Carter	Adaptable Capital
Eric Landry	BML Capital

Call transcript

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Operator

Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Educational Development Corporation Second Quarter 2018 Results Call. [Operator Instructions] Now I would like to turn the call to the Chief Executive Officer, Mr. Randall White.

Randall White

Thank you, guys. who here people the for are today. attending Thanks better got a bit little I news. on we'll have call, we've us President and the With today White, Craig so Vice of O'Keefe, Vice our we've got our Information got who's have CFO; Cobb, we Technology. Heather of President UBAM; Dan later, questions

to available go over to be all first, we'll just questions. But let earnings Dan report. me So for pass the lead our

Dan O'Keefe

year-to-date will I quarter announce the well. for results second our Randall. earnings and the then you, as Thank

$X.XX increase Net of $XXX,XXX second in comparison second the fiscal $X.X the over the period call to of year's Year-to-date $X.XX after per $X.XX earnings versus of year, Randall XXXX ended the same XXX%. increase were for in $X.XX the So for increased update earnings. $XX,XXX,XXX quarter $XX,XXX,XXX,XXX X-month of $X.XX or $X,XXX,XXX fiscal were were or a taxes revenues X the earnings X-month quarter XXXX, Earnings X% decreased $XX,XXX,XXX $XXX,XXX for $X.X earnings we'll year-to-date for Earnings period prior for from second last in revenues. with period of million months for our in period million Earnings share That's XXXX. the in to net XXX% financial $X.X increase X the for quarter -- the from over XXX% increased XXX%. in increase an months the in the Earnings $X.X an XX, or from second revenues with $X.X XXXX, second million Net increased XXXX, or per or -- taxes last quarter results. before the year. quarter XXXX months comparison. $XXX,XXX an X-month an $X.X X-month start the million And White, $X.X $X.XX share taxes. last or the second after in ended with -- the 'XX. of after to year, XXXX $X,XXX,XXX and XX, August net or increase common That X% year. the from of August per of second of million to taxes $X,XXX,XXX fiscal was X-month of increase then per last ended quarter income income earnings Earnings to over million or 'XX increase earnings last of our decrease share from an CEO. last the XXX% increase fiscal X the quarter XXXX. XX, of to increase same period for increase or common That's for or quarter. compared our August before for million to $XX,XXX,XXX the year XXX% back quarter or concludes over pass earnings the an compared call, of net XX, our of for year increase I'll share ended increased an $XXX,XXX same comparable XXXX August That quarter in of taxes fiscal over increase

Randall White

be it's And struggle happy Okay. there. back But new Good had it during but been we're to increase goes to about sales. growth Thanks, explosive real training, technology to for in earnings. so few this; really digest -- implementation profitable results in period months Dan. that the a has. quite to all a trend of have while try that doing because results we've I'm these time, because of

two product. UBAM, is success against of ways. that demand the the consultants for course, of our our in So by strong it's and really to growth, and our driven due see We

it we're an having and second And more It's continuation. more by and so It walked ourselves. worked we day-to-day and back year in -- it developers, we in-house and from way. implementing purchased it's is some when still brought additional to program and It over do The new ago never from never took was profitable results, probably goes that we're vendor much a And a developers. had a software finally back this the better a for efficient certainly thing. away outside technology, to we it quarter worked.

advising We do if we this, that. what more you more tweak putting have product. time, people here And us, and all this? are the Tweak out

We week in a November last matter record shift. we much did our we on a in of the on last week in month one week shifts. as two as for As did biggest fact, had fall shift one

getting there. we're So

So important imagine of it significantly correctly. all that efficiency this are make better. this the way: And recording Those it's Dan a Craig here program attributed the again, Heather kind the you can getting steps to is the driving and with success. the room, operating technology actually in to by people sales,

now And kept the telling from our fall, so only know along. company the it's known this I've me years had a the we people way, When and it. same because I everyone, all fall, had formula story happening. has by what's I've away known and had and watch turned we better. tough And for getting for I fun suppliers, of it's them the really kind us, ends but it to bank, a how just tough

I ago. this. you tell questions had Anyway, fall. here don't be you starting efficient, The probably excellent post what we last year, hard do to but I be that Facebook. shift starting forgive to. time our But but ready was But night more in more the are we the might for -- tonight, think, doing? we can a that tell down, last forget. And our us, you quarter, season. stuff, question. ago. will much more increasing. Yes, we're know. selling a had number you, know year. we've will night just when of this We're on think will My was well, months I night XX the we're at is ordered you they of example months XX It's started in I fall I earlier to operations the is that the I'm haven't have because anything you'll to shift shipping to first guys goods I been very cost Our our this on who we've kind want expect an But gosh, we're But handle you can a sales improving profitable. tell an might shift tonight. because the that amazed of so we're profitable. will And fall while. we How's coming women specifically of people you haven't what happen

because we're And getting around good So that's right in pretty they have you out XX,XXX sold right six people if knock back. now, gradually haven't haven't And salespeople. salespeople months. of people six we months, but we this, these anything reported active

six this month -- went Craig the right reported covers. telling -- sales this this a for he Generally when goes back period on quarter it's because So in months was it there. reduction me what

March. getting just January, past Christmas February, the You're in season selling

been for and also we that ride item a think still us it a fact control some ride. increasing. sales ahead. is, survived got And significant and wild are think, we've and been sunny the wild are I here, a place. we got days of So we It's increasing guys, I It's the that

chance. open that, know, with up I well, So If ready your to to you want told now's questions. haven't I'm for you anything

Operator

first question our And line Paul is Capital. Instructions] [Operator Adaptable Carter of from with the

Your line is open.

Paul Carter

flows cash numbers from CapEx of just quarter? were operations First what and the your second for all, then

Randall White

missed part. what? the I I was the What heard first CapEx.

Paul Carter

from flows Cash operations.

Dan O'Keefe

that I in it don't front within today will of me, or so so. out the Paul, have next Q we're information filing don't our be later hour there we -- but

of me. don't have So in the right Q I front

project $X second broken we've technology pick the was implement CapEx that numbers, efficiency, far process. million some year so for of was spent. down year-to-date our shipping on and million -- on two around automation Our our is additional and improve technology improve -- a that And to budget We capital primarily primary the $X the this additional was some that piece budget part roughly to into daily approved our CapEx output our packing to implement One expenditure pieces. CapEx in lines. board then to was so

pack through sped far, the quarter. and automation implemented second performed so quarter, our up automation as to the be in process actually the Randall And fourth is really shipping, line pick line about have And the we've improvements earlier. daily that was talking scheduled shipping, technology

Paul Carter

Okay.

to book sure just So inventory your of you're about May? flows relative the what not did for were that but cash your the quarter? end How what look

Dan O'Keefe

right press me to with just bring Again, for now. I Paul. We the that I apologize, discussion you. doing were any Q didn't do comparison release

So have information. I don't that

Randall White

It's a rough have You down. down, idea? It's but...

Dan O'Keefe

okay. no, No, it's

my in Paul. me with with for to you. those apologize, numbers through I mistake That's bringing So the not go Q

Paul Carter

I'll fine. this wait later That's afternoon. till

sort of just question. big So picture

of over explosive that dissipate. of the direct see of of like, growth, that So there examples posting been to companies number have model, lots the sort use last growth sales years, only subsequently

over UBAM few So years. tremendous the growth posted last here some obviously has

you what of portion are gains? retrace So you these UBAM going how that that then not large confidence? a is confident And gives to

Randall White

very and that at it's high books sales $X such the product. we year back. it's children's in at markup, And owned very books and we've sold sold in publishing. of stores in program have honest, the a and a XX.XX, our small it's in piece stores exactly what Most industry that's fixed have XX, retail that price so Publishing the as companies & we in we Noble. we selling us got don't industry, speak, if obviously, sell a direct retail direct very the Barnes cornered. because it's market on But and keeps we because to what have best the also we're a both that not Well, sales about and is billion direct value

are So them. a to book retail we price increase going can't because raise margins stores not our and the buy of

demand, I'm of that more Heather, going. a division. in do has little a Maybe have we strong is where Now about to we're let and that insight going charge she and who

Heather Cobb

a we we have and Paul, experienced at significant because closely in day question great that it's Hey out and day actually pretty one growth. such look

and in the sales how have how throw handled the that. growth is number been we've was have we worked truly we sales companies and see more think trip the with things quite more the immediate and a that the and gifts that the that. new turn approached Where other is to have is you do. that more them, throw how had, like that, one incentives And response force. way in model, consultants really like to that I the cash they've direct that their items When more that we've of and of increase around sales you'll differences bit we that expensive bonuses, conservative in it throw and with that other our back know built things model traditionally that,

allows. so what And overexerted outside we of the haven't ourselves growth

We good to continue answer growing. we're And a in really rate, continued feel were at position feel asking? of same little not we we're in going a happening, Does what so really that you the I a like maybe bit like forward. see position growth but do solid

Paul Carter

Yes.

Randall White

Paul, add. let me

more thing one add me to Let that.

what think The and unsurpassed. great One things. product it couple is a of a makes is our of quality have product there's you I do. we grow,

thing get end is the throat where in. We push product make direct thing than would very know, money. of people not second they've you've simple. year, lost Well, you consultants the spent our made. to at is The first program money? do Oh, more do the anybody's yes, Because they've down selling

it be lose have You'd at involved and to our work money. to organization in

one thing. So that's process. simple a very It is

we is have growth. because one our make who money significant second The of now people

join out year, working from to have people kind you make tell people. their tell when going I'm income, serious? And their And to house. of And I of they you home, is you other $XXX,XXX say, happens for what kind that to you, of that make that. And Well, works. Are that's a someone how kind who We it over bad and that's of want work not make that's income.

a plateaued anywhere that things, sales. earn So and I those chance a don't near income. valued I to think we that see product two have, because in we've of significant very

Paul Carter

Okay. That's great.

another kind picture big Just question. of

regularly or I guess X% $XX X ago of XX to company, EDC X%. when of you was or sort profit years maybe margins a So net closer million posted like

those somewhat than your be? grow net So your profit do assuming it of near your million your net sort going mix like divisions either kind of two you used the what to out it between stabilized level -- is in or net different where stabilized understanding margins forward, see the $XXX revenues that term, growing to

Dan O'Keefe

So, so is far, again. Paul, Dan this

before year-to-date, see So where about do taxes, opportunities we're shift a we're far, to as reported last And want now as to income were to that's about product those of were daily necessarily our And give basis we we from than X% saying earnings when efficiency. obviously, and in more we Randall earlier, headed. year we've two a to an projections in we was on But continue improve X%. don't one year one shipping out last increase shifts. is

this for last we'll have operational to next, compare which And about a with putting what so that think two will per the November year, going because December those to year, two October, still product of two efficiencies if periods the are be you that shifts, come at lot targeting, you be to to we're going out shifts, be is shifts shift. see two some and we more you shifts and

Randall White

much Well, those XX% can made by that solid out I we but to we long wasn't we because remember XX% that profit. the hit when like tighten went had window. were as can we was as nice did. grow everything much company remember growing Paul. down time a there Those a we a I the way, ago and we pretax ledgers,

think And XX% in to we're get where like to to to pretax trying significant tighten line. now two bottom a on back so up realm of expenses comes through out is that in in purchasing cost I XX% our the comes not a and it place the increase products getting And of that we're We're goods. Miller. It because volume discounts, from places. possibility that's the of Kane and making we're

just point is not tight few on hit day We're volume, X And with And -- -- the very better. yet, two nearly shifts. go back had than operation. This ago that do just the ever down. not we can a lot were but tight with we a we largest we the so fact when that can shift ran that, and get our we've to a years boxes we

see I'm ago years to knew you. that had can a we're So to and It's that challenge that. going kind same there. our a control in person very what have you But that's XXX% getting tight of believe and and real grow we're business in, expenses, the everything me, the install of and a on back XX technology kind of we're getting

Paul Carter

a weighted back indication Okay, great. other is this And stock minor just about share is basic what in question. final, thing. you was or July. than But buying that shares some -- was less your it reason? average really Is an X,XXX quick that count This again quarter are

Dan O'Keefe

XXX(k) plan, with our associated That's Paul.

they we've a from request as that back just And the for when their them So can plan to stock them. company and basis. option they leave, now employees on had XXXK a buy EDC and a in our shares to part provide cash decades their payment XXXK investment invest of pretax choose can

some And so buyback reductions program share minor other in of but any that. place opportunity there's that It we was the like or we had just approved, minor XXXK XXXK transactions. type no

Randall White

somebody sometimes came in point. a down it paying think this I'd now. But that's a dividend, right at else's -- buying or pay If dividend stock probably I to hands

Operator

Instructions] [Operator

Randall White

good anything, Surely is it? somebody you has are know don't question. that Results so a need to

Operator

And [Tom a ahead. from a line investor. Roche], or have comment question we the private a Go of

Unidentified Analyst

and could they the they and was in was from going I about this feel what wondering hearing forward. about us downtime and how on color quarter that give how just little recently feel sales sales the Heather Yes, a Randall, experienced consultants she's if

Heather Cobb

IT that. them, I of books, not room us to book possible, of with what we to team the busy was as it always It pretty those and of after Sure. hands love that following a tend by number various families which There's when look can into did opportunity during and be to to the seems love is that. for so in say Randall love and we say, continue and comes corrected internally share can of Sentiment from sharing booths the I selling quickly the to stuff we'll sharing things getting record a them. out still others. improve and the the XX parties and what orders them provide actually at kids to there, need we that in of they're short fall some hear high issues. slinging and continue website as We would things ton to slowdown our saw of they're do. as of like hours Overall, have likes out still the books, because

Randall White

there here, last last nothing mean going days about had did in X,XXX that, day. We But everything We we that. But did that XX secret there's one a bunch people add year ship nothing everything. remember I'm or had some people were X,XXX was of And can were do. orders to we here still days I lost December past could paid time a at a year, we shipping now. And and do. not It's those been I too. I'm to down for, to fall straight. I November, could. XXX,XXX in I guys. the because

fact consultants marching indication we've And more kind an faster of we by customers. dying. had reproducing and the two They're more that But now into so two we is ocean. or around same army lot right like than the it's a Chinese have that and lost a the ever of are

lot happy fall, We challenge are and that. That's really the don't that's a to $XXX, worked it a They a lower so end challenge. in our take about money. them -- the there of on lot $XXX, So make a who people month, and adversity certainly our $XXX, give arrogant up. towards $XXX consultants happy, a of because may I'm customers not for and not make keeping doesn't many

happy, And to with they if you put they've read it I fall. have, on And like had the things. on out us. they're tough like oh adrenaline. our But do, feel the leaders top field. or is And But so that do titles company these all consultant right you it's we're now, kickoff. And happy, they growing big to If They -- you not headcount here very draw. big in none my a and overall, encouraging gosh, in that's the say. new recently, always I the think January, still a it top shot a listen put we're And Facebook. we to element then, like when they're they Dallas got They we are well, money? XXX have fact in Facebook. of put of And we And key meeting just a so leaders tired. a if just it's is, make believe,

And we'd to again. got standpoint, at you our be think to did overcome some time. so we've we technology, from July, But line all just you so down we things to be is new a get we to which in are, have realize that means fall take that now. the the had happen going one lines know not they I to infamous fields while able to the and

back fall feels till no. Xth. comments. orders. up sowing supposed sometimes of see season they're going fall it's to strong that's And up XXth. But ladies. kind you it's the back a it's time so reap, behind a precarious. for didn't we this started leaders get have that to oh July no, no, in kind reap. in it like and group again." that's because to It here got very But sensitive again. Well, is selling like and of seeds the and be No, about very excited And about sow. these not It now We the what's XX now happening down. I "Oh, was reason, whatever feel getting one July not They of issue like fall -- time they days line

So think force sales we, excited have going large, an season. by I the best-selling and into

Operator

is next BML with our Landry line the And of from Eric Capital.

Your line is open.

Eric Landry

If you whatever in sales down quarter, would down up? the you been it to was didn't have to took line take flat have your

Dan O'Keefe

Eric. Dan, No -- This is

$XXX,XXX. Our It in, to changed $XXX,XXX But came estimate the the we'd bit, change year. in deferred in a orders common be revenue revenue that I want up down -- deferred slightly. went comparison the still with well, to between and last quarter little

Randall White

Well, finger telling know don't in the puts their here's a really we somebody like it's little gouging because you in a it. sore you, and get I'm when bit behind, thing:

You already have people sounding an alarm.

it, can So that would've, do it say anything when you people, them not a reason do gives to alarm could've, set should've, or something.

you just to a to, her finance a happy "Well, I I they what what neighbor, pots be she CEO. I there said, one really your were know. pretty the people we've just this my by give people sent got a word. did I them of And hardware -- hard of whole she All me was I'm who your her. know have behind they is experience She'll She me, aback "Well, called products. one and in is great She I She experience." didn't work to money much bad have is on just that. said, this call called me And are say company." gives lot business. and we'd pans, people they're we a But and with "I lot left me taken a like gone. love they're said, pages And bad heads-up. angry. of weekend. and very if talk it's spreading homework. And had it's and it's the me if a one I Heather She So believe customer two it isn't gave and of was and experienced. who bad all because got very if who the and a because make do,

said, "Well, we'll as And And sorry joining." joined had." the I end the call, every fact, she matter problem a fix about a was I thinking at of consultant. about we that. As

So that that -- not it's hard.

nice have price. a a and really product fair We great company,

out So go, I trying eight the sales. oh, no, in in is up and how the just sales. after we days not months Well, XX caught catch up any division. by in figure we're we to for up feel like reopening selling. the that, sales, more to About we're we that one two we spent school library been months, way, of things consultants could That's doing handle we about closed catch what, because

January, January? in, the open will that up nice that to think we're now think a we And January? into we'll handle So And but up to for we we can. that's expended X,XXX we people to we library many going couldn't haven't it. because X,XXX do and as market. as very sign market people because school that

get just that sales us confidence mode. that another growth area back on that's will So gives a our

Eric Landry

one is driven the mention Okay. is -- there title mentioned much How new was your there much How growth sheer during earlier. growth one of driven releases? on the was introduced quarter? of a titles by new call think by -- just your number somebody I

Randall White

Other "Oh They we on excited other I all people they and my consultant this. Christmas post consultants new get get Christmas. I'll It's Heather get a well, all picture, Facebook, people. excited are books. -- present. when okay? get got." driven tell know, but by gosh, join. mean, might tell of part what New They it's opening consultants about so and it's look Sales the like existing you like that, they headcounts,

consultant-driven title-driven. it Heather, new or is so And what?

Heather Cobb

bit a that the said. It I It who of or Randall new at say day seen new heard number still as psychological the the new manages that with titles would impact about everything the less the and do ordered of titles little that releases of up who's they someone the plus titles It's is I question consultant -- has excited XX those new and with been about about has in. and you they we least a getting what for number coming small to titles. have XX joined. of us a between in get of XX leader other the just about releases to title years, new

a we And that January two bit And for October. and in release so And energy year, of title and excitement. just catalogs I is that a mid-season new July. what of we and that March in do that do release little shot think add allows then little

by another driven I I get it's those for about. think them thing that titles, So know don't new but excited it's specifically to necessarily

Dan O'Keefe

from quantitative just about which represents new introduced -- a XX% titles a portfolio. year, Dan Eric, point And is view this our XXX of we -- about

that genre, kids out going of little are XX% of and that replacing current are when of the releasing out of piece our of we for So new lot offering. a those and we've at exciting. influence our books not A then it's But favor, of replacing that out look offer, significant we're with more that are some current consistently titles, carried books decades. we

Randall White

with new feel on my interesting Well, last to thing ever. that, one Miller, Kane On the than very excitement. really titles best had more like titles, Kane world the XX now phenomenon years, we we've It's the new add the with attracting But best going of gosh, titles the are oh Usborne, had new too. the such better we've books from I'm growth, because create the for besides Miller we said, are world. products how in the all with Usborne. over we

comparable a bringing very people picked from We be of And up kind and it's to to Heather, top salespeople these a everybody out because in of? just England Grylls, what, part wants which recently the XX,XXX hearing line to that. have products about us. $XXX of selling, books popular sales doing million Bear We they're called

Heather Cobb

four with has as Well, fabulous books us I a and mean, of nonfiction book ages, kids outdoor well from for new activity survivalist riveted he's as skills so... an survival avid series new different chapter series to all

Randall White

the get like top that. Usborne we we people world. the better. Kane products accumulating does world, then, from better. in the And get our seems really it do where top so But we and popular are product around Very the and better the side, think line attract with Miller

Eric Landry

one more, have I it's if okay.

Randall White

Sure.

Eric Landry

the I that current mention soon. think down correct? in quarter that again taking somebody the Is you're coming up I heard lines

Randall White

said No, them down improvements time. the didn't in we're a I There that. that? get coming address but going busy some going. not no, I at we that Craig, to postponed, and in say are do a want one did July season. And back you that that we took do technology up, that took one to We longer to second

Craig White

pack We're Yes. layout redesigning process. pack and the

just X take January a during will all We down our couple not at and that It should time. of January month. is we're after slowest taking but starting typically be weeks,

it at So productivity shouldn't virtually affect all.

as it's we're just work and to new work. the to project packers them walk get in a having to opposed where taking So

Dan O'Keefe

Eric, quarter. might have fourth me heard doing our say that we're you in that

starts Our the and December till fourth goes in of February. end quarter

So said, the quarter fiscal our year. in doing season we fourth quarter, January fourth which the as fourth over. the but It's in the line process quarter, it's not changeover pack are the Craig of will be, calendar is after

Randall White

reasonable because year, And it send you it. amount XX,XXX the I'm In you probably of for I last mentioned might tell service orders, and [indiscernible]. we wrong assist had have the November to a and fall December, customer pay but person, October to if means you each going one you to again. guys, to $XX we which

And I Now could you to reship be close, back or $X. get it. it off $X got pretty and is $XX

you back box now million. we're really control, electronic. like quality and really that we barcoded, is for that And feel that and by level has is volume processes that's $X Dan? our improved customer service using scanned the and down. like And new we and technology see Do scanned. call Each going [NIMS] so And have

Dan O'Keefe

yes. Yes,

Go So definitely ahead. yes.

Randall White

Dan?

Eric Landry

Okay.

ago, number tightened everything what one of now cost you down. compares that in tightened to it you down? did So think things, How package your you years a to do ship your said when words, had

Randall White

Well, go we when was XX prices it as a wasn't per people. you matter that up, of same UPS, had we increased go with in a goes of do. volume back ago, number that cost It of had a But down. book years everything system prices matter

and as like operations, to the fast sales really And we And everything. we static. us flying as interesting. we We're that. Our can given we again, customer door. He kind out kind mackerel, or seriously what before now, you Dan last did analyses But when past did, of fairly get has are were blind got year, never just Dan had And efficient I grow before. year could this just go, that's in refining And does you two of so graphs. of service we report, be here. be holy

to much so on able zero improved. are be areas now that And in we need to

are. And and so we're -- we

make And of they we statements, but like -- these I profit are we increasing. efficient. forward-looking the our can so to think end see can become at I Again, more margin don't our to me that don't do what

I plenty go. to think more there's

Operator

investor. [Tom follow-up a have we private from a Roche], now And

Unidentified Analyst

sales what of Yes. come there call of some Guys, kind I and recently questions. percentage I was read Internet your have from comes work. that? a wondering maybe that or me your that sales or couple what Give works meetings. that of of is, much that something Facebook parties you of from I on how parties Facebook how And

Randall White

But knows a Heather I this, know Facebook. do. her me, what, XXx I answer about let know about going about that. whole so you lot. a more I know I'm lot than to

Heather Cobb

a such They party three done are from planning business And was probably that's of which years or we today. traditional a something across all inside parties party. onto many in they the home, that traditional which ago, a tell could it today. single someone's of the people home reach country it Tom, those they But something opened sorts not a you, with the Facebook, that party, will have when did party business. still It's leaders of do doors is that is biggest I still move all home So were to that our as went they about up party revolutionized. being able platform

party. We have a home

those home You neighborhood, people to inviting specific your are own come community on into that night. your own your in

about ladies And to Our as and were found the that Facebook. wanted ago three on time I was people and are quickly people meet years they they still where said, were.

set parties. specific the platform already allowed up with they those take host. We and it them associate a so these and wanted they had And to there, to meet essentially orders e-commerce for online that

more the and became of those And in even on model. a which to long importantly success opportunities. direct easier sudden, so of And to us, capitalized easier all start, much they do, you're business people even for all for having you a sales the more earlier end to the success, in to is key up always The have going the early experience success, will simpler run.

Unidentified Analyst

you're -- mean geographical areas that sales that getting before? areas weren't this that into Does reaching you

Heather Cobb

them they happening friends in to -- neighbors felt family really yes. the could is they communities smaller and to reached cities. Facebook community, only everybody they to reach or they Realistically, states their across to is to reaching who parties people knew, to we former already say but would live people and friends that and Facebook out live what's like country as open like doors do simple they that were that other that were college and those could had people, people when their all happen also have other I the of family or in host they anyone not that that that out in answer the inviting members And lived because started that. that

Unidentified Analyst

you that level subscriptions I Can could have starting, something connection, grade with do And question? math some in books where if example, of books first your you area? wonder second-grade up say, every I are somebody work series on sales who consultants? you the and customers, something for and not have have in you books, into so selling year you resembling different somebody then customers a that for get in same you little a ask the

Heather Cobb

we suggested. series, We we their series majority knowledge do a graded and as books, we advanced on first your you intermediate level. and more of grow they in do a on of in as don't beginner, So the question instead, increase they But it do. have those whether as actually function

to with of well different various different that as things the from math that even to dictionaries into get and before a to as science everything number them most encyclopedias have subjects, dictionaries, of for like dictionaries use they and school. thesaurus, We early opportunities learning

all of capitalize not offer do us. we question different your those second do So available subscription, opportunities currently our And subscription for we then about to customers. on

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Unidentified Analyst

just kind you that is into Is through and I try if ask and on your you've children your got question. to focus in to there a of anything their forth this is lead company, of of could they particular try customers wonder try your educational it lead that their Do them like educational a need name an sales sales Well, if status I customers' consultants any and that? and age to similar way. process to consultants so Or particularly, the have there the and what books? -- progression

Heather Cobb

consultants that, I that is lead think that through them absolutely. do, that's they say that I our would process. what best

a grandparent, We really format that's because something what they've we a there's kids' to readers some a them exactly introduce readers. that concept even customer a different whether in that's age why a purchasing are for or there reading know is to into are the with reading that sure the that We make we teacher that consultants We there's that in levels. fact going more. a classroom. above it to to seen the them that fact try voracious getting or for before reader called be to than are uncle a consult their it parent, that Trying think in their even they're hands fall aunt, they're are I life, to possibly try do. make with books reluctant for love in know

are that level them age books the their of available necessarily to not many appropriate. However, above are

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Randall White

I might add something also. to that

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a element growth. our So key that's I think to

Heather Cobb

all various recommend, that districts. major the of outside also are do they they even Tom, school of programs leveling in what in And participate offered

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Unidentified Analyst

Have your you ever their had as textbooks? books schools adopt

Randall White

Scholastic of their about couldn't in and And Scholastic with us contacted has books through we but interestingly, them, get the they They out I then was them curriculum. forever. us because -- and finding from the the adopted best-selling has And sale the million. school $X.XX We sometimes have. think largest they're came because they was the the found books Actually, books. Book about three gone Scholastic at them they're got some sales it Scholastic ever whereas we've out made Fair

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Heather Cobb

We lot books. our of of do of many set sell a classroom

of books that, that sold number of classroom give as district. year year. selected like for and student entire dictionaries focus talk things an had single we've sets book throughout different well a of classroom about our amount book the a have math they as a few the also time of to the that We've having school of that the levels the throughout copy school And book the picture a as available every year. they on of and in specified copies We

Unidentified Analyst

was Do favorite last remember used you X books. book I question? one ask sell reference old, my a read of years was I do lot still that? or I a you Can to And X actually when that I about dictionary.

Heather Cobb

do. of absolutely the are the as school more because with books nonfiction and and customers reference more a the out focus actually on in just market and We whole. coming We interest our from library

our -- some are referred type each we we Dan mentioned our books collection earlier and to into standard season. that additional of dictionaries reference but and we So do add some old the encyclopedias, nonfiction that of have

Randall White

anymore find Internet." period subject, necessarily everything it's specific buy nice I continuing, Well, want we get trend where know trying finding in because to and I of or in-depth. because not a books "Oh, about years, present there's to much that more we're it don't of And having the add favor. to in that, I a Internet reference of sales on to we can is the reference to three need thought, four subject reference time material are when of book They fell the on a instead out kind book

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good looking very -- we we're think for the future. So

Operator

the Sir, at in I this any questions queue don't show time.

Randall White

unlike can but it Alpha much. going and further the the the Well, you, I'm you proud let you, guy company I'm the me trend about It's Well, Okay. you of is whoever The going thank tell if company. to Salvador very remiss And Heather on than same Craig, today, today. strong a But look I Seeking This that, page. part about in happened it didn't and that listening. prison future very got young all We're are tell me and tell Dan. feel in very guys this this of the you. comfortable. not And about chuckle this in guys, for a to be El provided what's quarter shorts I'll very the team, me you myself, of this go talking you've I let and is. posted up best yourself. little I'm people thank earnings. any tell what room, in you,

important a have the go-forward does, We that's very team a very good basis. and on working relationship,

guys team, Corporation. And okay. You executive Development the with can proud of at be the team Educational that,

Dan O'Keefe

Have a great day.

Randall White

Have a guys. great more day. And Thanks, me. need you email questions, if

Operator

program. participating gentlemen, day, you you conference Have This in wonderful a everyone. disconnect. thank and all Ladies concludes the may today's for and

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