Noah Education Announces Results for the First Fiscal Quarter Ended September 30, 2007Last update: 11/19/2007 5:00:00 PMSHENZHEN, China, Nov 19, 2007 /Xinhua-PRNewswire via COMTEX/ -- Noah Education Holdings Ltd. ("Noah") (NED), a leading provider of interactive education content in China, today announced its unaudited financial results for the fiscal quarter ended September 30, 2007, which is the first quarter for Noah's fiscal year ending June 30, 2008.(1)
Highlights for the Fiscal Quarter Ended September 30, 2007 -- Total net revenues increased by 40.0% year-over-year to RMB247.5 million (US$33.0 million) from RMB176.8 million in the first quarter of fiscal year 2007. -- Net income increased by 39.4% year-over-year to RMB44.5 million (US$5.9 million) from RMB31.9 million in the first quarter of fiscal year 2007, and net income excluding share-based compensation expenses and the change in the fair value of warrants (non-GAAP) increased by 63.3% year-over-year to RMB52.1 million (US$7.0 million). -- Basic and diluted earnings per share were RMB1.58 (US$0.21) and RMB1.50 (US$0.20), respectively. Excluding share-based compensation expenses and the change of the fair value of warrants (non-GAAP), basic and diluted earnings per share were RMB1.85 (US$0.25) and RMB1.83 (US$0.24), respectively. Each ADS represents one ordinary share. The weighted averaged ordinary shares outstanding in calculating basic and diluted earnings per share were 21,473,442 and 21,687,452. -- Total sales volume of handheld digital learning devices ("DLDs") for the quarter increased by 20.5% year-over-year to approximately 229,000 from approximately 190,000 in the first quarter of fiscal year 2007. E-dictionary sales volume decreased slightly to approximately 211,000 from approximately 219,000 in the first quarter of 2007. -- Total coursewares available increased to approximately 30,000 from approximately 28,000 as of the end of the fourth quarter of 2007. -- As of September 30, 2007 we had 3 after-school tutoring centers in ....
On the conf call they reported that their OEM forgot to put a product safety sticker on some product. the sticker was to let people know there was some hazardous chemical (they say commonly used in this type of equipment) in the device.
the analysts on the call hammered them for this. I believe that's what's taking this down. May take a while to restore confidence that NED wasn't trying to hide something.
Indeed a better than expected report. What do u expect for a PPS tomorrow? They are reporting non-gaap of $0.24, which will put 08' EPS at $1. EDU is trading at a P/E of 60+ could this trade at a P/E of 30?