By Crawford County Now Staff November 23, 2021 9:00 am
MANSFIELD—During the past few weeks, Mid-Ohio Educational Service Center was proud to host the High School Fall Academic Challenge League in the virtual format. Students competed as teams, answering questions about a wide range of topics including literature, fine arts, geography, history, math, and science.
JV, HS runner up (Ashland)
In varsity league competition, the 14 competing teams split into two divisions. The winner of Division A was Mt. Vernon with team members Emily Hammond, Nick Grega, Makenna Hughes, and Charlie Comfort. The winner of Division B was Lexington with team members Katie S., Thomas S., Maggie S., and Wes H. The junior varsity league winner was the team from Lexington with members Seth D., Jacob H., Grant M., and Chloe D. The runners-up came from Madison. Team members were Nate Osborne, Josh Atwell, Katelynn Ransom, Justin Gibson, Zachary Lucas, Samantha Myers, and Grady McElvain.
The Fall Tournament was back in person at the Mid-Ohio Educational Service Center for the first time prior to COVID. Leanna Ferreira, the coordinator for Academic Challenge, said coaches and students alike were appreciative and the energy level was high as students participated. “It has been over a year since we’ve had in-person meets, and we were so glad that everything went smoothly. We congratulate all of the winners!”
Varsity, HS runner up (Lex)
At the varsity level, sixteen teams faced off in two brackets. The winner of each bracket then faced off for the ultimate winner. Mt. Vernon (winner of bracket B) took champion overall, with the team of Emily Hammond, Nick Grega, Makenna Hughes and Charlie Comfort. Lexington (winner of Bracket A) took runner-up overall with team members Katie S., Thomas S., Maggie S., and Wes H.
JV, league runner up (Madison)
In the junior varsity tournament, there were 16 teams competing in two brackets. The top teams from each bracket faced off in the final. Lexington, the winner for Bracket A, secured the victory. Team members were Seth D., Jacob H., Grant M., and Chloe D. Ashland A, the winner of Bracket B, took runner-Up. Drew Briggs, Klooey Kaeser, James Kinney, Andrew Martin, Riley Hammond, and Austin Conrad made up the team.
Mid-Ohio Educational Service Center provides specialized academic and support services to 11 school districts and over 18,000 students in Crawford, Morrow, and Richland Counties. Client districts receive services from curriculum, gifted and special education consultants, speech pathologists, psychologists, special education teachers, occupational therapists, and physical therapists.
SMITHFIELD – A smaller, progressively various grade school in this town is a shiny location amid the overall gloom bordering the most recent standardized assessments scores.
Outdated County Highway Elementary College posted some of the most dramatic gains in math, inspite of the pandemic, jumping from 21{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} in student proficiency in 2019 to 30.6{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} to 2021. The students’ proficiency in English language expertise also rose, from 37.5 {e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} in 2019 to 61.5{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} in 2021.
When other colleges have been having difficulties to return to lecture rooms past calendar year, Smithfield introduced back all of its elementary students five days a 7 days.
“As quickly as the pandemic begun in March 2019, we really focused ourselves to acquiring as considerably live on-line learning as doable when we had been however doing full-time distance learning,” said Principal Paul Barrette.
“Starting from working day one, we ended up in-man or woman 5 days a 7 days,” he claimed. “That manufactured a substantial difference for our youngsters. There is no replacement for a reside instructor functioning with learners.”
The university wasn’t a star ahead of the pandemic.
Supt. Judy Paolucci said Aged County Road had the “furthest to go” of all of the town’s 4 elementary schools. It is also a Title I school, which means the school has a higher share of students residing at or near the poverty line.
And the faculty has getting more and more diverse, with practically 24{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} of its 200 pupils recognized as pupils of colour.
Smithfield has place in the time. Now it is beginning to see the outcomes.
“The operate we started 3 decades back is getting cemented now,” Paolucci said Friday.
In-property math tests now include test queries from the state assessment, the Rhode Island Comprehensive Assessment Process, or RICAS, a demanding examination modeled just after testing in Massachusetts.
Asked if this amounts to “teaching to the check,” Paolucci stated no.
“That’s not our purpose,” she mentioned. “What we do want is to do math at the optimum degrees doable. The existing [state] test steps student understanding at these high ranges. Their in-faculty assessments ought to match that rigor.”
Alternatively than cramming for the RICAS in the months major up to the assessments, Smithfield embeds this level of rigor in its every day training.
“There is a inclination in the course of a pandemic to sluggish items down,” claimed Assistant Supt. Sara Monaco. “We forged ahead by ensuring that teachers taught at the correct depth. We anticipated our virtual youngsters to be on the exact same tempo.”
The district has also presented instructors extra time to collaborate. Monthly school meetings are no for a longer time put in on administrative responsibilities. In its place, teachers have time to drill down on how their students are performing.
Principals also pay a visit to classroom on a regular basis, not as a “gotcha” physical exercise but as a way to see how learners are behaving, how instructors are maximizing their time and what procedures are specifically efficient.
“Once a thirty day period, I timetable time with each individual principal,” Paolucci stated. “We do a walk-by means of of school rooms in an casual way. I may be seeking at how significantly useless time there is, what is the response to inadequate habits, are instructors on pace.
“We have a wonderful romance with our union,” she explained. “They are our companions.”
Smithfield also obtained fortunate. The town did not have to close universities past yr due to virus outbreaks, anything that bedeviled quite a few larger districts.
The district also employed a math specialist, who performs with compact groups of students who need added help.
The middle faculty, nevertheless, stays a challenge. Math and English scores have declined considering that 2019.
“We are searching at the scores now,” Paolucci mentioned. “We heard that the screening was not best. We know pupils in middle college came in each individual other day and the participation rate was lower.”
Linda Borg covers education for The Providence Journal.
ANNOUNCES FISCAL YEAR 2022 SECOND QUARTER AND YEAR-TO-DATE RESULTS
TULSA, OK, October 6, 2021-Educational Development Corporation (“EDC”, or the “Company”) (NASDAQ: EDUC) (http://www.edcpub.com) today reports financial results for the second quarter and year-to-date ended August 31, 2021.
Pre-COVID, COVID Impacted and Current Year Comparison
“As a result of the pandemic, 2020 was a very unusual year for all companies. Ours was no exception. Fortunately, we saw an increase in demand for our products, and we were poised and ready to meet the opportunity. This demand anomaly resulted in record sales and record earnings,” stated Craig White, President and CEO of Educational Development Corporation.
“This year, as the pandemic restrictions have lessened, we had a more typical second quarter. Historically, our second quarter is one of our lowest revenue quarters of the year due to the seasonal nature of our business. During the second quarter of last year we experienced a significant increase in the demand for our educational products as parents navigated the COVID-19 pandemic travel restrictions as well as teaching in the home,”
“Due to the significant positive impact of the COVID-19 pandemic on our business last year, we are providing the additional table below to show pre-COVID, COVID-impacted and current financial results for the fiscal second quarter and year-to-date results ended August 31:”
Pre-COVID
Pre-COVID
COVID Impacted
COVID Impacted
Current Year
Current Year
Period
Q2 FY 2020
YTD FY 2020
Q2 FY 2021
YTD FY 2021
Q2 FY 2022
YTD FY 2022
Average # of Consultants
33,600
32,600
45,400
39,300
46,100
50,200
Net Revenues
24,438,000
52,025,400
59,250,100
97,541,800
32,994,400
73,802,300
Net Earnings
1,007,600
2,371,200
4,255,000
6,186,100
1,898,200
5,336,300
After tax profit {e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}
“Sales from our UBAM division continue to be driven by our active consultant count. This quarter the Company had more active consultants, which translated into increased revenues over fiscal year 2020 results. When compared to the year prior to COVID-19, UBAM revenues for our second fiscal quarter were 35.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} greater than the second quarter of fiscal year 2020 and UBAM’s year-to-date revenues were 42.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} higher than the year-to-date revenues of fiscal year 2020. This growth, compared to fiscal year 2020, clearly demonstrates the continued success in generating sales from our consultant salesforce. The Company expects to see this trend continue into the third quarter.”
“Sales from our Publishing division continued to rebound in the second quarter as sales increased $1.2 million, or 52.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, over the sales from the second quarter last year. Publishing division’s sales in the second quarter last year were negatively impacted by store closures associated with the COVID-19 pandemic.”
“During the second quarter we generated $2.7 million of pretax profits, approximately 8.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} of net revenues. This strong profit level results from our consistent business model, our attention to cost containment and last year’s restructuring of our outbound freight program. We expect these strong results to continue for the remainder of the fiscal year and beyond,” concluded Mr. White.
Once again, the board approved a quarterly cash dividend of $0.10 per share, which will be paid on, or around, December 9, 2021 to shareholders of record on November 18, 2021.
Year-to-Date Highlights Compared to the Prior Year
●
Net revenues of $73.8 million, a decrease of $23.7 million, or 24.3{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $97.5 million.
●
Average active UBAM sales consultants totaled 50,200.
●
Earnings before income taxes were $7.3 million, a decrease of $1.1 million, or 13.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $8.4 million.
●
Net earnings totaled $5.3 million, compared to $6.2 million, a decrease of $0.9 million, or 14.5{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.
●
Earnings per share totaled $0.63, compared to $0.74, down 14.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.
Second Quarter Highlights Compared to the Prior Year Second Quarter
●
Net revenues of $33.0 million, a decrease of $26.3 million, or 44.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $59.3 million.
●
Average active UBAM sales consultants totaled 46,100.
●
Earnings before income taxes were $2.7 million, a decrease of $3.1 million, or 53.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $5.8 million.
●
Net earnings totaled $1.9 million, compared to $4.3 million, a decrease of $2.4 million, or 55.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.
●
Earnings per share totaled $0.23, compared to $0.51, down 54.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.
EDUCATIONAL DEVELOPMENT CORPORATION
CONDENSED STATEMENTS OF EARNINGS (UNAUDITED)
Three Months Ended
August 31,
Six Months Ended
August 31,
2021
2020
2021
2020
NET REVENUES
$
32,944,400
$
59,250,100
$
73,802,300
$
97,541,800
EARNINGS BEFORE INCOME TAXES
2,658,100
5,799,500
7,318,700
8,443,400
INCOME TAXES
759,900
1,544,500
1,982,400
2,257,300
NET EARNINGS
$
1,898,200
$
4,255,000
$
5,336,300
$
6,186,100
BASIC AND DILUTED EARNINGS
PER SHARE:
Basic
$
0.24
$
0.51
$
0.66
$
0.74
Diluted
$
0.23
$
0.51
$
0.63
$
0.74
DIVIDENDS PER SHARE
$
0.10
$
0.06
$
0.20
$
0.12
WEIGHTED AVERAGE NUMBER OF
COMMON AND EQUIVALENT SHARES
OUTSTANDING:
Basic
8,028,594
8,354,214
8,028,929
8,353,319
Diluted
8,435,348
8,354,214
8,458,664
8,353,319
EDC will host its Second Quarter Fiscal 2022 Earnings Call, including a live Q&A webcast, on Thursday, October 7, 2021 at 3:00 PM CT (4:00 PM ET). Craig White, Chief Executive Officer and President, Heather Cobb, Chief Sales and Marketing Officer, Dan O’Keefe, Chief Financial Officer and Secretary, and Randall White, Executive Chairman, will present the Company’s second quarter results and be available for questions following the presentation. Phone lines for participants will be available at (855) 639-3876. The conference ID is 7783245. Audio replays will be available following the event at www.edcpub.com/investors.
About Educational Development Corporation (EDC)
EDC is a publishing company specializing in books for children. EDC is the exclusive United States trade co-publisher of the line of educational children’s books produced in the United Kingdom by Usborne Publishing Limited (“Usborne”) and we also exclusively publish books through our ownership of Kane Miller Book Publisher (“Kane Miller”); both international award-winning publishers of children’s books. EDC’s current catalog contains over 2,000 titles, with new additions semi-annually. Both Usborne and Kane Miller products are sold via 4,000 retail outlets and by independent consultants, who hold book showings in individual homes, through social media, book fairs with school and public libraries, direct and internet sales.
Contact:
Educational Development Corporation
Craig White, (918) 622-4522
Investor Relations:
Three Part Advisors, LLC
Steven Hooser, (214) 872-2710
Cautionary Statement for the Purpose of the “Safe Harbor” Provision of the Private Securities Litigation Reform Act of 1995.
The information discussed in this Press Release includes “forward-looking statements.” These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and we can give no assurance that such expectations or assumptions will be achieved. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, our success in recruiting and retaining new consultants, our ability to locate and procure desired books, our ability to ship the volume of orders that are received without creating backlogs, our ability to obtain adequate financing for working capital and capital expenditures, economic and competitive conditions, regulatory changes and other uncertainties, the COVID-19 pandemic, as well as those factors discussed in our Annual Report on Form 10-K for the year ended February 28, 2021, all of which are difficult to predict. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph and elsewhere in our Annual Report on Form 10-K for the year ended February 28, 2021 and speak only as of the date of this Press Release. Other than as required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.
Disclaimer
EDC – Educational Development Corporation published this content on 06 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2021 21:06:03 UTC.
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All news about EDUCATIONAL DEVELOPMENT CORPORATION
There is a lot additional taking place in community training unseen by the public these times, largely since of the coronavirus pandemic.
With significantly far more do the job getting accomplished remotely and office several hours getting a lot more flexible, numerous mothers and fathers are exploring they can property-school their youngsters, an selection once unavailable thanks to scheduling conflicts.
This can be a good progress for mothers and fathers who are interested in — and well prepared for — what is associated in educating their youngsters on their own.
However, even though, quite a few may well be getting this route mainly to secure their little ones from the threat of COVID-19 infection, and without having the assist of handy and extensively readily available length-learning systems. The influence of this classroom hiatus will be uneven at best.
Considerably less accountable mom and dad may possibly deem a nominal level of instructing to be very good sufficient for their keiki, but that does not absolve the point out of its responsibility to see that little ones are finding out.
And outside of the key educational criteria, queries are lifted when youngsters are disenrolled from school to be taught at residence, and issues afterwards occurs. That was an issue with the school withdrawal and afterwards disappearance of 6-yr-outdated Isabella Kalua in Waimanalo, a still-unsettled situation.
In scarce but tragic instances, young children pulled from general public schools can be at possibility in a non-public environment, without oversight by caring grown ups.
They stand as a reminder that faculty environments operate as risk-free spaces, also.
About the past year, just about 3,300 dad and mom submitted the “notification of intent to house school” that is demanded to get an exemption from the state’s obligatory attendance legislation. Point out Section of Education and learning data also exhibit that this compounds the much more than 6,000 mothers and fathers in 2020 who gave detect that they have been withdrawing their kid from general public faculty to household-faculty them.
This aligns with a countrywide trend that is plainly fueled by the pandemic: According to the U.S. Census Bureau, a continuous level of about 3.3{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} of pupils getting residence-schooled experienced presently risen to 11.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} nationally by the drop 2020 tutorial yr.
What is fewer distinct, at least in Hawaii, is how well prepared public educators are for this adjust, assuming it persists beyond the present-day crisis.
For illustration, once university-age youngsters all turn out to be eligible for vaccination — anticipated to materialize prior to year’s close — some of the new house-schooling mothers and fathers should start off to really feel safer about returning young children to campus.
Lecturers will need to set up how very well people learners have stored tempo with the curriculum and, if they haven’t, do their very best to catch them up. And this is on prime of the current problems. Teachers ought to treatment the studying decline from the past yr of distance studying, as perfectly as monitoring pupils becoming despatched dwelling now on quarantine.
During the 2020-21 tutorial year, the state skipped an opportunity to establish a a lot more permanent distance-understanding infrastructure. Even if it could not possibly aid distance learning for absolutely everyone, it would at least offer you educational enrichment for household-schoolers, as effectively as for extra isolated neighbor island learners.
Hawaii’s property-schooling is far more regulated than in some states. Mothers and fathers do have to submit an yearly development report on the student’s accomplishment. Students are demanded to do standardized assessments at grades 3, 5, 8 and 10 and have the opportunity of getting other checks at the local university.
But now it’s time for the state’s training leaders to review how proficiently these procedures bolster finding out achievement for home-schooled students. Their inhabitants development might not be just a passing phase.
