ChinaEdu Q3 2012 Profit Down 48% YoY
ChinaEdu, 12/20/12
Chinese education services provider ChinaEdu (Nasdaq: CEDU) has announced its financial results for the three months ended September 30, 2012. Total net revenue for Q3 2012 was USD 19.7 mln, up 8.7% YoY from USD 18.1 mln in the corresponding period in 2011.
Net income attributable to ChinaEdu was USD 0.5 mln, down 47.5% YoY from USD 0.9 mln in Q3 2011.
Net revenue from online degree programs for the third quarter of 2012 was USD 15.8 mln, up 9.4% YoY from USD 14.4 mln in the corresponding period in 2011. The increase in net revenue from online degree programs in the third quarter was primarily due to organic growth in revenue students enrolled in core online degree programs. Enrollment for online degree programs in the Spring 2012 semester was approximately 193,000 revenue students, an increase of 21.4% YoY from approximately 159,000 revenue students in the Spring 2011 semester.
Net revenue from non-degree programs, including online tutoring programs, private primary and secondary schools, and international and elite curriculum programs, in the third quarter of 2012 was USD 3.9 mln, up 6.0% YoY from USD 3.7 mln in the third quarter of 2011.
As of September 30 2012, ChinaEdu's learning centers network provided recruiting services for 22 universities with 116 operational learning centers, of which 55 were proprietary centers and 61 were contracted centers. This compares to 103 operational learning centers as of September 30, 2011, of which 59 were proprietary and 44 were contracted centers.
To view the complete report please see here.
Keywords: Internet profit revenue ChinaEdu CEDU Q3 2012 fiscal report online education
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