Educational Development Corporation

Ladies and gentlemen, thank you for standing by and welcome to the Educational Development Second Quarter Fiscal Year 2020 Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. If you require any further assistance, please press star 0. I would now like to hand the conference to your speaker today, and Mr. Randall White, Chief Executive Officer. Please go ahead, sir.

Thank you very much. Welcome to all you on the phone here that have an interest in Education Development Corporation. We have an interesting quarter and what I'm going to do is actually introduce Heather Cobb, our Chief Sales and Marketing Officer. She's on the call. are CFOs. So if you have questions for any of them specifically, you're welcome to do that also. So we have the full crew here at your disposal to ask any question you'd like. And with that, while you're thinking about that, I want to turn it over to Dan to actually talk about our earnings release.

Thank you, Randall. For an earnings update, net revenues for the second quarter of fiscal 2020 were approximately $24.4 million. down 0.3 million or 1% from 24.7 million reported in the second quarter of fiscal 2019. Earnings before income taxes totaled approximately 1.4 million, a decrease of 0.6 million or 30% from approximately 2 million in the second quarter of fiscal 2019. Pre-tax profit as a percentage in net revenues were 5.6% in the second quarter of fiscal 2020. as compared with 8.1% reported in the second quarter of fiscal 2019. Net earnings in the second quarter of fiscal 2020 total approximately one million, a decrease of 0.5 million or 33% from approximately 1.5 million in the second quarter of fiscal 2019. Earnings per share on a fully diluted basis decreased six cents a share or 33% from 18 cents a share reported in the second quarter of fiscal 2019. to 12 cents reported in the second quarter of fiscal 2020. This concludes the earnings results, and I'll pass the call back to Randall. Okay. Thanks, Dan.