教育发展公司 (EDUC) 首席执行官兰德尔怀特在 2020年 第一季度业绩 - 收益电话会议记录

[机器翻译] 电话会议 · 2019年07月17日 · 21 次阅读

Educational Development Corporation (NASDAQ:EDUC) Q1 2020 Earnings Conference Call July 16, 2019 4:00 PM ET

教育发展公司(纳斯达克股票代码:[EDUC])2020年第一季度收益电话会议2019年7月16日美国东部时间下午4点

公司代表

Randall White - Chief Executive Officer, President
Craig White - Chief Operating Officer
Dan O'Keefe - Chief Financial Officer

Randall White - 首席执行官,总裁

Craig White - 首席运营官

Dan O'Keefe - 首席财务官

电话会议参与者

Good day, ladies and gentlemen, and welcome to the Educational Development, First Quarter Fiscal Year 2020 Results Conference Call.
At this time all participants are in a listen-only mode. Later we will conduct the question-and-answer session and instructions will follow at that time. [Operator Instructions]. As a reminder, this conference call is being recorded.
I would now like to turn the conference over to your host, Mr. Randall White, Chief Executive Officer and President. Sir, you may begin.

  • 美好的一天,女士们,先生们,欢迎参加2020年第一季度教育发展会议结果电话会议。
  • 此时所有参与者都处于只听模式。 稍后我们将进行问答环节,届时将进行说明。 [操作员说明]。 提醒一下,此电话会议正在录制中。
  • 我现在想把会议转交给你的主持人,首席执行官兼总裁兰德尔怀特先生。 先生,你可以开始吧。

兰德尔怀特

Thank you, Valarie. Welcome to the call gentlemen and ladies. Here with me today, I want to introduce Craig White, our Chief Operating Officer and also Dan O'Keefe, our Chief Financial Officer, and I think we are going to start with Dan. He’ll give you a highlight of the previous earnings release.

谢谢Valarie。 欢迎来电致绅士和女士们。 今天和我在一起,我想介绍我们的首席运营官Craig White以及我们的首席财务官Dan O'Keefe,我想我们将从Dan开始。 他会给你一个上一个收益发布的亮点。

Dan O'Keefe

Thank you, Randall. As a recap of our earnings for the quarter, net revenues for the first quarter of fiscal 2020 were approximately $27.6 million, down $2.4 million or 8% from approximately $30 million reported in the first quarter of fiscal 2019.
Earnings before income taxes totaled approximately $1.8 million, a decrease of $0.6 million or 26% from approximately $2.5 million in the first quarter of fiscal 2019.
Pre-tax profit as a percentage of net revenues were 6.7% in the first quarter of fiscal 2020, compared to 8.3% reported in the first quarter of fiscal 2019. Net earnings in the first quarter of fiscal 2020 totaled approximately $1.4 million, a decrease of $0.4 million or 25% from approximately $1.8 million in the first quarter of fiscal 2019.
Earnings per share on a fully diluted basis decreased $0.05 a share or 23% from $0.22 per share reported in the first quarter of fiscal 2019 to $0.17 per share reported in the first quarter of fiscal 2020.
This concludes our earnings results and I’ll pass the call back to Randall.

谢谢兰德尔。作为本季度收益的回顾,2020财年第一季度的净收入约为2760万美元,比2019财年第一季度报告的约3000万美元下降240万美元或8%。

所得税前的收益总额约为180万美元,比2019财年第一季度的约250万美元减少了60万美元或26%。

2020财年第一季度的税前利润占净收入的百分比为6.7%,而2019财年第一季度的报告为8.3%。截至2020财年第一季度的净收入总计约为140万美元,减少2019财年第一季度的约180万美元,即40万美元,即25%。

完全摊薄后的每股收益每股下跌0.05美元,或从2019财年第一季度报告的每股0.22美元降至23%,至2020财年第一季度报告的每股0.17美元。

我们的收益结果就此结束,我会将电话转回Randall。

兰德尔怀特

Okay Dan, thanks. Well, investors this is a first quarter that I've had report reclined [ph] sales in a very long time. This is not an indication of where we're headed for the fiscal year beyond, I don't think, because we continue to expect grow in both divisions of the company actually.
The decline, was in the – to explain what happened, the decline resulted from a very successful recruiting program in February of 2018 which was in the quarter we are comparing to and we had 8,800 new consultants that month and pretty much that resulted in the 10% of revenue built for the quarter.
So we actually grew our average consultants between quarter four last year and quarter one of this year. So that big negative comparison in the first quarter is not likely in the remaining quarters. But as I told you guys before, the average number of active consultants is not exactly a firm number, but it is a guideline. But we’ll tell you that we've had a very successful current recruiting effort and so far halfway through the month we are up about, more like 400% over the same month last year, July. So we are having another very nice surge in recruiting and I think it's coming from the fact that we had a very successful national convention.
The commission unit also this year, which we have it every year, we had attendance; it was up about 40% at 1,700 people here. That's pretty significant in the fact that of course they pay their way to come here, that’s all expense to the consultant to attend, so that’s 1,700 people who want to do better, apparently.
So that’s very encouraging that that’s up 40% over last year, and again the recruiting special. We left them with encouraging reports from the company and they've gone back and halfway through the month of July have had a very successful recurring effort.
We are also really excited about the technology improvements that we are rolling out this summer and how that will affect our existing consultants and improve the experiences of our new recruits.
We hear a lot about the industry, probably not surprising to anybody on the call that the new young people are very impatient with any type of technology, it's not just the most latest up-to-date. So we have rolled out our back office platform on a test basis already, which offers that phone mobility, that mobility for the handset. They've been asking for this platform to be mobile friendly and we are delivering it. It's in the test phase right now and it should be rolled out very soon; we’re pretty excited about that. I hope they are as excited as we are.
But today, literally they want a punch a button on that drone delivery on the porch [ph] in about 30 minutes. We're not quite there yet of course, but certainly making your business mobile friendly where they can all – where they can translate their entire business on their phone, away from home.
Here is some of the other changes we had in quarter one. Our publishing division continued to grow a little bit, and we expect that to grow in the near future. We're picking up new accounts, obviously there’s back in that, and the sales department, yes, we are already looking at some new accounts that we’re adding and we think we can return that back to levels that we previously had.

好的丹,谢谢。那么,投资者这是第一季度,我已经在很长一段时间内报告了销售额。这并不表示我们在财政年度前往何处,我不认为,因为我们继续预计公司的两个部门实际上会增长。

下降,是 - 解释发生了什么,下降是由于2018年2月非常成功的招聘计划,这是我们正在比较的季度,我们当月有8,800名新顾问,几乎导致10本季度营收的百分比。

因此,我们实际上在去年第四季度和今年第一季度之间增加了我们的平均顾问。因此,第一季度的重大负面比较不太可能在剩下的季度进行。但正如我之前告诉你们的那样,活跃顾问的平均数量并不完全是一个公司数字,但这是一个指导原则。但我们会告诉你,我们目前的招聘工作非常成功,到目前为止,我们正在进行一个月的中途,比去年同月(7月份)更加像400%。所以我们在招聘方面又有了一个非常好的增长,我认为这是因为我们有一个非常成功的全国大会。

委员会单位今年也是我们每年都有的,我们有出席;它在这里的1,700人增加了约40%。这一点非常重要,因为当然他们付出了代价来到这里,这对顾问来说是一笔不小的费用,因此显然有1,700名想要做得更好的人。

令人非常鼓舞的是,这比去年增加了40%,而且再次招聘特别。我们给他们留下了来自公司的令人鼓舞的报告,他们已经回去了,并且在7月份的中途进行了非常成功的反复努力。

我们对今年夏天推出的技术改进以及这将如何影响我们现有的顾问以及改善新员工的经验感到非常兴奋。

我们听到了很多关于这个行业的消息,对于那些新人们对任何类型的技术都非常不耐烦的人来说,这可能并不奇怪,它不仅仅是最新的最新版本。因此,我们已经在测试基础上推出了我们的后台平台,这提供了手机的移动性,即手机的移动性。他们一直在要求这个平台是移动友好的,我们正在提供它。它现在处于测试阶段,应该很快推出;我们对此感到非常兴奋。我希望他们和我们一样兴奋。

但是今天,从字面上看,他们希望在大约30分钟内在门廊[ph]上按下无人机按钮。当然,我们还没有完全实现这一目标,但肯定会让您的企业在所有人都可以移动友好的地方 - 他们可以通过手机远离家乡翻译他们的整个业务。

以下是我们在第一季度进行的一些其他更改。我们的出版部门继续增长一点,我们预计在不久的将来会增长。我们正在寻找新帐户,显然还有新的帐户,而销售部门,是的,我们已经在查看我们正在添加的一些新帐户,我们认为我们可以将其恢复到以前的水平。

The pre-tax profit of 6.7% reflects the strength of our business model, even when revenues declined. I think for the whole year last year, full year we did 7.7% and while 8.7% for the quarter a year ago, but the fact that we had that much decline shows that we do keep control of our costs and our model is good. Our sales are down, but we are still earning – we’re still profitable.
We also used $300,000 in the quarter to repurchase shares. We have a buyback program and we are continuing the repurchase of shares into quarter two when it seems advantages to us. We’ve also declared our dividend for quarter one and quarter two, that if you annualize it, it’s returning over 3% today on stock prices, the current price around $6.50, $7 in that range. Clearly our stock is a pretty good value today for us and we can resume our growth, which we expect to do.
So this concludes the business update and let’s open it up for questions. Who’s got a question?

税前利润6.7%反映了我们业务模式的优势,即使收入下降。 我认为去年全年,全年我们做了7.7%而一年前的这一季度为8.7%,但事实上我们有这么大的下降表明我们确实控制了我们的成本,我们的模型很好。 我们的销售额下降了,但我们仍在赚钱 - 我们仍然有利可图。

我们还在本季度使用了30万美元来回购股票。 我们有一个回购计划,当我们对它们有利时,我们继续将股票回购到第二季度。 我们还宣布了第一季度和第二季度的股息,如果你将其年化,它今天的股票价格回报率超过3%,当前价格在6.50美元左右,在该范围内为7美元。 很明显,我们的股票今天对我们来说是一个非常好的价值,我们可以恢复增长,我们期望这样做。

所以这就结束了业务更新,让我们打开它来提问。 谁有问题?

问答环节

So I must have answered every question you ever want to know about the company in the quarter and where we’re headed.
Okay, I hope that’s the answer and not lack of interest. We're optimistic here guys. It's a tough business, a lot tougher than it used to be. We have to fact things that have nothing to do with us like other companies in the industry that have had different problems than we do and we don't have those kind of problems. There are other companies in the industry that may not operate as effectively as we do and that’s having effects on us, but when you're in the direct selling industry sometimes we get painted with the same brush.
So apparently there's no questions. So guys, thank you very much for listening and we'll report on our next quarter.

因此,我必须回答您在本季度以及我们前进的方向上您想了解的有关公司的每一个问题。

好的,我希望这是答案,而不是缺乏兴趣。 我们在这里很乐观。 这是一项艰巨的业务,比以往更加艰难。 事实上,与我们无关的事情就像业内其他公司一样,我们遇到的问题与我们不同,而且我们没有这些问题。 业内其他公司可能无法像我们一样有效运作,并且对我们产生影响,但是当您进入直销行业时,我们有时会使用相同的画笔。

所以显然没有问题。 所以,伙计们,非常感谢您的倾听,我们将在下一季度报告。

会议主持员

Thank you. Ladies and gentlemen, this does conclude today’s conference. Thank you for your participation. You may all disconnect.

谢谢。 女士们,先生们,今天的会议确实结束了。 感谢您的参与。 你可能都断开了。

兰德尔怀特

Thank you, Valarie.

谢谢Valarie。

会议主持员

You’re welcome. Have a great day!

别客气。 祝你有美好的一天!

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