New Oriental Q4 FY2010 Profit Up 119% YoY
PRNewswire-Asia, 7/19/10
Chinese education services provider New Oriental (NYSE: EDU) has announced its unaudited financial results for the fourth quarter and fiscal year ended May 31, 2010, with total net revenues for Q4 FY2010 reaching USD 86.6 mln, up 45.7% YoY. Net income for the quarter reached USD 5.8 mln, up 118.7% YoY.
In the fourth quarter, total student enrollments in language training and test preparation courses increased by 32.4% year-over-year to approximately 437,200 from approximately 330,200 in the same period of the prior fiscal year.
Total net revenues for FY2010 reached USD 386.3 mln, up 32% YoY. Net income for the year reached USD 77.8 mln, up 27.5% YoY.
Total student enrollments in language training and test preparation courses increased by 19.0% year-over-year to approximately 1,807,700 from approximately 1,519,500 in the prior fiscal year.
The total number of schools and learning centers increased to 367 as of May 31, 2010, up from 270 as of May 31, 2009. The number of schools remained at 48, located in 40 cities as of May 31, 2010. The number of learning centers increased by 43 in the quarter to 319 as of May 31, 2010, up from 276 as of February 28, 2010.
New Oriental expects its total net revenues in the first quarter of fiscal year 2011 (June 1, 2010 to August 31, 2010) to be in the range of USD 188.2 mln to USD 197.2 mln, representing year-over-year growth in the range of 26% to 32%, respectively.
To see New Oriental's complete financial report, please click here.
Keywords: Q4 2010 guidance Internet profit New Oriental EDU online education revenue fiscal report
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