NEW ORIENTAL POSTS $1.1M FISCAL Q2 INCOME
New Oriental reported GAAP net income of $1.1 million and diluted net income per ADS of $0.03 for its second fiscal quarter of 2010, ended November 30. Net income fell by 63.9% year-on-year, while total net revenues increased by 23.8% year-on-year to $61.2 million in the quarter, within the company’s previous guidance.
Student enrollment in language training and test preparation courses in the second quarter increased 5.1% annually to about 307,000. New Oriental did not open any new schools but opened 11 learning centers during the quarter to reach 48 schools and 250 learning centers.
Source: JLM Pacific Epoch
URL: http://www.jlmpacificepoch.com/newsstories?id=161943_0_5_0_M
