American Educational Products Inc., Boulder, CO, had $11.7 million in sales during fiscal 1998, up 39% from $8.4 million in fiscal 1997. For the year, the company’s net income rose 65%, from $514,000 to $850,000.
American Educational Products made two acquisitions during 1998 that contributed significantly to its sales increase: National Teaching Aids in May 1998 and Summit Learning in July 1998. Partial year revenues from the acquisitions were $3.2 million.
The company recently announced that its distribution business, Summit Learnings, is completing development of an Internet catalog. The on-line catalog will be available to all educators with Internet access and will contain all of Summit’s products in a searchable database. In addition to all of the items included in Summit’s traditional print catalog, the on-line catalog will feature special promotions and new products that were not available when the print catalog went to press.
For the fourth quarter of 1998, the company’s net loss was $117,000 compared to a net loss of $91,000 in 1997. Its fourth quarter revenue of $2.7 million represents a 67% improvement over 1997 revenue of $1.6 million.
American Educational Products Inc. is a developer, producer and distributor of hands-on supplemental materials for schools and teachers. The Company’s broad base of proprietary products, primarily in math and science, gives it a strong presence in the preschool through high school academic market.
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