Educational Development Corporation

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Educational Development Corporation's financial and operating results for its fiscal third quarter and fiscal 2023 year-to-date results. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Stephen Hooser, Investor Relations.

Thank you, Operator. Good afternoon, everyone. Thank you for joining us today for Educational Development Corporation's third quarter and fiscal 2023 year-to-date earnings call. On the call with me today are Craig White, President and Chief Executive Officer, Heather Cobb, Chief Sales and Marketing Officer, and Dan O'Keefe, Chief Financial Officer. After the market closed this afternoon, the company issued a press release announcing its results for the third quarter and fiscal 2023 year-to-date. The release is available on the company's website at www.edcpub.com Before turning to the prepared remarks, I would like to remind you that some of the statements made today will be forward-looking and are protected under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied due to a variety of factors. We refer you to Educational Development Corporation's recent filings with the SEC for a more detailed discussion of the company's financial condition. With that, I would now like to turn the call over to Craig White, the company's president and chief executive officer. Craig?

Thank you, Steven, and welcome everyone to the call. I will start today's call with some general comments in regards to the quarter, then I will pass the call off to Dan and Heather to run through the financials. and provide an update on our sales and marketing. Finally, I will wrap up the call with some comments and strategy and 2023 outlooks. We are pleased with our sales for the third quarter, especially when compared to the previous quarter. We continue to face macroeconomic pressures from record inflation resulting in high food and fuel costs that have hit the pockets of our target customers, which are families with young children. to combat these continued pressures. Like many retailers, we offered additional discounts to support our customers and additional incentives to energize our sales force. These market decisions allowed us to generate over $30 million in net sales, but did impact our ability to drive the bottom line. Having said that, I am pleased by our ability to remain profitable for the quarter. With that, I will turn the call over to Dan O'Keefe to provide a brief overview of the financials. Dan.