Two direct selling companies appear in a new ranking by Forbes that identifies the top-performing public companies in every state.
In the past year, Oklahoma’s Educational Development Corp. (EDUC—NASDAQ) and Utah’s LifeVantage Corp. (LFVN—NASDAQ) produced the highest return on investment in their respective states. Forbes used data from FactSet, a financial research and analytics firm, to track the total return of every U.S.-based public company from June 2015 to June 2016.
Educational Development Corp. (EDC) operates EDC Publishing and the larger Usborne Books & More direct selling division. Peter Usborne founded the company to create educational children’s books that provide a fun reading and learning experience.
After more than four decades in business, EDC is in the midst of three years of growth, following a nine-year stretch of declining sales. In the first quarter of 2016, the company logged record revenue of $22.9 million versus $9.6 million a year earlier. The stock yielded an annual return of 139.4 percent, according to Forbes.
LifeVantage led Utah-based corporations with an annual return of 253.6 percent, which puts it in the top five companies overall. In the past year, the maker of health and wellness products has made several key appointment to its executive team, under the leadership of Darren Jensen, who joined LifeVantage as President and CEO in April 2015. This year also brought an expansion into Europe, including launches in the United Kingdom and the Netherlands.