<RTTNews) - New Oriental Education and Technology Group Inc. (EDU: News ) posted second quarter profit attributable to New Oriental of $3.31 million or $0.02 per share versus $1.84 million or $0.01 per share last year.
Non-GAAP net income per ADS was $0.05, up from $0.03 in the same quarter last year.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share. Analysts' estimates typically exclude special items.
Total net revenues rose to $131.98 million from $95.66 million in the prior-year quarter. Analysts estimated revenues of $129.51 million.
Michael Yu, New Oriental's Chairman and Chief Executive Officer, commented, "In the second quarter of the fiscal year, which is our seasonally slowest quarter, we posted solid revenue growth of 38.0% and even higher profit growth of 80.5% year-over-year..."
Looking ahead, New Oriental expects its total net revenues in the third quarter to be in the range of $168.3 million to $176.2 million, representing year-over-year growth in the range of 27.0% to 33.0%. Analysts expect the company to report revenues of $177.16 million.>