EDUC - Earnings call transcript Q2 2019 | Educational Development Corporation

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Operator

Good day, ladies and gentlemen, and welcome to the Educational Development Corporation Second Quarter 2019 Results Conference Call. [Operator Instructions] As a reminder, this conference call may be recorded. I would now like to introduce your host for today's conference, Mr. Randall White, CEO and President. Sir, you may begin.

Randall White

Joel. you, Thank the results. to to the discuss Welcome conference quarter second guys call In any Officer. us have with the here room for our Sales Heather Chief specific and Marketing Cobb, we questions,

Operating We Craig our Financial Controller. as have Officer our got as Morris, White, Chief Chief Trevor got well Dan Officer. our O'Keefe, We’ve

the straight So, let's to get results. actual

Dan, you over take would here? So,

Dan O'Keefe

second XXXX. to QX share Great. XXXX. second Earnings in from quarter second so a quarter $X.XX the fiscal quarter taxes concludes the XX,XXX,XXX reported the Thanks, Randall. in the back Earnings I’ll increased XXXX periods. grew second earnings per grew taxes Net basis diluted results to for income pass approximately X,XXX,XXX of after to over second XXXX on reported the fiscal fully reported revenues fiscal a X,XXX,XXX share before X,XXX,XXX grew X,XXX,XXX XX,XXX,XXX XXXX and the XX% approximately quarter XXX,XXX per of $X.XX $X.XX XX% of fiscal in in call quarter This in QX earnings fiscal or of the of X% from Randall. or to the to from reported common of or XXXX. or a XXX,XXX Net share XXX,XXX fiscal in from quarter XX% share

Randall White

sales. has second The it Okay. The flat. that conducive revenue which was, things in quarter to are pretty in the it revenue was generally not

per we convention our have of top in where annual XXXX week. We our people have Tulsa

summertime, of the the family, just expect reported have with you continue. We moms then this our that the are was much when consider kind but net our that for period enjoy in of also quarter. pretty annual revenues consultants the year. and with The last that's don't We quarter most stay-at-home to time shipments awards they

consulting from second active of XX.X% XX.X from to the increased XX.X last count by Our quarter year.

thing you a reason we’re are gross we this to is quarter sales might important don't were the because gross one the bit. X%. time those look we last the up The sales, that little compare of The we if about. year, And that's which at retail. amount same up So, talk really is at ship books

those lot reason year do type same of with up the it quarter the last higher has Now, than to were sale was. a the

are So, we vary. in lot this quarter, and a book the gross fairs Book of fairs. net had

gets So if book you the confuse can the top between of in guys, about trying gross sale it's net. not fair, and vary $X,XXX but free. the school experienced I’m $XX,XXX, to

so basically, our President a -- go Vice of taken that lot because showing things things here. of change that. a division of that recent major kind and some So, management teamed shipping, and and and division in little We seen accounts increases publishing our Heather in into had and we've because that's that nice and But growth. is I’ve they've over pretty are that it’s and double free our resigned lot of a it we've the division good

XX a major individual days of division last the small come a accounts, year, it’s this with our -- things [indiscernible]. hanging for because good from a us Okay. lot also in has of of expect to accounts with and just good publishing also we fruit the what’s but happened some change and kind division. low the about people. very think publishing pleased our some then been with major I some in the But And amount,

are than profit a we growth, really before, will revenue pretty second you our to sales increased profitability, were running million, that things here, and happened Part that our addition grow for tax had When much that In control would XXX we quarter our profits of also faster up of but we think I and it I you efficiency, are to tell probably mean. the while. due have things smoothly is laws, I back to and control our -- I have out told we're significantly. under

continue. we’re little shipping two today, done we improvements shift. will all still volume, in running this volume at the we've There's more last warehouse, that bit on and year, So Last but a were year shifts. one than more time,

in that's we’re and warehouse the in be additional so And those profit. seeing significant to and will the introduced technology been provide continuing improvement

the of with our how retail and stores, same starting UVAM very consultants. worked with and that retail well and -- the years lot back will really is we're actually warehouse as as happy and So were big some as revenue. day side that next the seeing we’re in today, or of problems. got in A lost ago, side. back some going aggravated two we're we pretty is them efficiency products, way couldn’t we we’re well through We can shipping to and them very we as [ph] We aggravated, stores the ship to help the get that now well that

and part good a of third seen expect quarter we’ve we already it. So

that pretty third a have I nice going So, am quarter. comfortable to we’re tell you to

ready I’m questions. you’ve So, for What got?

Operator

Instructions] [Operator

Randall White

could So, question every possibly I answered anybody ask.

what Paul, got? you’ve Okay.

Operator

Capital. Our Carter from first question Adaptable comes Paul with

Paul Carter

afternoon, Good everybody.

of other just know, August but levels? to general it sort there you like XX% that felt needed ended guidance, are a expectations your to season the last than reasons inventory inventories August. was Is you increase about I these don't fall you or your selling indication of for So, higher give to

Randall White

are Paul. had back we were get we of of several there, then we inventories agreement. borrowing sales of there then reasons little And we a short. and had reduce for got our significantly bit ahead guidelines the because to to – When we within a probably the couple Well, years inventory ago,

we So we now, season think selling is this now what expected a requirements. inventory for buildup are fall have

called say, twinkly, cute very what twinkly was, book enough, Christmas one twinkly always course. It's of to inventory. it So bring twinkly, guess little brought star, enough we we we and what little have tree, have in a in I oh of

And to it. would year hold many you seasonal over, well, [indiscernible] to want, how so XXXX a left because because be on want title, you per don't it

So, our best guess XX,XXX. was

for So, What we’ve XX title. have days. price, it, pricey. it would that? was thought we're these gone, already got we Well, what days, who retail So at books of Christmas thought XX $XX a was was XX,XXX that out pretty

we is So, going season selling well. fall – very

our remainder with So season. the prediction what fall is happen selling of inventory increase in expect we to the of the

Paul Carter

of other question, you to your you far add to are Okay. you that going or initiative place? language initiative, had of what like, investments team sort that Terrific. Tulsa in the do existing so Spanish just if And support anybody that, made have kind regarding with to in lead to

Randall White

rest we’re or Well, the Spanish speaking bringing people, in for the to and Usborne be can But, in so we’re growth from company. that XXX out the And so somewhere main English. same have for very this have for title ones English. that on speak titles bringing sales from that We're the Spanish, the in point by do speaking it but we but around speak time. the in a premise. have people because wouldn’t those field help geared Spanish by that, are at and Actually, titles, many bringing area January all some significant from the X, thanks we up way, not

also in title the be and also, but available [indiscernible]. bringing titles of like Miller we’re bringing ones, the we're in English some more Kane will Spanish So, popular

hear So, that schools fairs. the Spanish is that book get can think can one division benefit have, from benefit library lot that we Oftentimes, the we and we of thing more says, want a school titles.

is has we'll this and -- see and since but we're which year pretty so well see them bump a how market, So, we the bringing school little that re-launched expect in done it. to we now works, in library --

be to more nice book a push for will this fair the So titles. really Spanish have market

Paul Carter

great. That’s Okay.

yeah, that that's forward much. looking Thanks for it very to seeing We’re me. how and goes

Randall White

Okay, Paul. Thanks.

Operator

not any I'm like questions any remarks. further Randall at White showing this would to you. for call over closing now time. the I to back turn Thank

Randall White

with question, One quarter. happy pretty okay. wow, guys. happened in Okay, We're the here what’s

years to we the that, we last writing were ago, go It to weeks there working miracle it's two are. has has see in of and on and like the four refine us are a material you article our when our to were I an operations or been have sales, magazine three years week, and swamp. who's to by taken very handling We’re in when [indiscernible] we’re three you today, but ship Dan gratifying. from were than how last contacted dumps, kind books ago the a on we operations where national and less -- we to efficient we that in week get in deliver,

here to on times shifts. season. ability ship more. and kind what's [indiscernible], a was but deliver trip it with can of two at So of happy going pretty we've short Again, to a the not gone We lot peak our

And about so we're happy pretty that.

any not, So thanks for next okay, and being you look to to questions? forward talking here If time. on guys,

Operator

program Ladies and all disconnect. This participating you in today’s day. thank and great gentlemen, today’s have conclude you does may conference. Everyone, for a

Randall White

Joel. you, Thank

Educational Development (EDUC) 16 Oct 182019 Q2 Earnings call transcript