EDUC - Educational Development GAAP EPS of $0.04 revenue of $23.3M

Educational Development press release (NASDAQ:EDUC): Q4 GAAP EPS of $0.04. Revenue of $23.3M (-42.2% Y/Y). “While we expect short term challenges this year, we are taking steps to conserve cash and maintain profitability. In addition, because we have acquired the bulk of our inventory over the past year, we are protected in the short term from rising inventory prices. During this quarter we have increased our working capital borrowings with our bank to support our increased inventory levels and the board has decided to temporarily suspend our dividend to protect our balance sheet. The dividend has always been a priority for the Company as part of our long-term capital allocation strategy to create shareholder returns. This strategy remains unchanged and as our inventory levels normalize later this year, our priority is to reinstate our historical practice of paying quarterly dividends."

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Educational Development GAAP EPS of $0.04, revenue of $23.3M