SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the fiscal year ended February 28, 2003.
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from ___________ to ____________.
Commission file number: 0-4957
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
Educational Development Corporation Employee 401(k) Plan
10302 East 55th Place
Tulsa Oklahoma 74146
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
Educational Development Corporation
10302 East 55th Place
Tulsa Oklahoma 74146
(918) 622-4522
REQUIRED INFORMATION
Item 4. Plan financial statements and schedules for the year ended February 28,
2003 have been prepared in accordance with the financial reporting requirements
of ERISA.
PAGE NUMBER
IN THIS REPORT
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Statements of Net Assets Available for Benefits as of February 28, 2003
and 2002 F-1
Statement of Changes in Net Assets Available for Benefits for the year
ended February 28, 2003 F-2
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees have duly caused this annual report to be signed on their behalf by
the undersigned hereunto duly authorized.
Educational Development Corporation
Employee 401(k) Plan
By: /s/ Randall W. White
------------------------
Randall W. White, Trustee
Educational Development Corporation
Employee 401(k) Plan
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF FEBRUARY 28, 2003
2003 2002
------------- -------------
INVESTMENTS
Participant directed, at fair value -
Employer common stock $ 1,167,032 $ 226,624
Mutual funds 278,750 389,513
------------- -------------
Total investments $ 1,445,782 $ 616,137
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F-1
Educational Development Corporation
Employee 401(k) Plan
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED FEBRUARY 28, 2003
Dividends $ 5,054
-------------
Contributions by:
Employees 120,371
Employer 60,186
-------------
Total contributions 180,557
-------------
Total additions 185,611
Less:
Distributions to former participants 22,386
-------------
Net increase before realized gains and losses 163,225
Net realized and unrealized investment gains and (losses) 667,861
Plan expenses (1,441)
-------------
Net increase in net assets 829,645
Net assets available for benefits, beginning of year 616,137
-------------
Net assets available for benefits, end of year $ 1,445,782
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F-2