Educational Development Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2013. For the quarter, the company reported net earnings were $547,800 or $0.14 per basic and diluted share on net revenues of $8,502,000 against net earnings were $525,700 or $0.13 per basic and diluted share on net revenues of $7,864,400 a year ago. Earnings before income taxes were $927,400 compared to $844,400 a year ago. The net earnings for the quarter were negatively impacted by one-time charges from prior years for state franchise taxes.

For the nine months, the company reported net earnings were $670,800 or $0.17 per basic and diluted share on net revenues of $20,207,600 against net earnings were $1,014,100 or $0.26 per basic and diluted share on net revenues of $19,923,400 a year ago. Earnings before income taxes were $1,118,400 compared to $1,625,500 a year ago. Net earnings decreased primarily due to the amortization of non-recurring specific marketing costs.