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New Oriental Education & Technology Group Inc. Message Board

  • trinikajo trinikajo Jan 17, 2012 8:16 AM Flag

    New Oriental Education net, enrollments rise...

    By Ben Fox
    <New Oriental Education & Technology Group Inc.'s /quotes/zigman/430006/quotes/nls/edu EDU +0.09% fiscal second-quarter earnings rose 81% as the China-based private education provider's enrollment and revenue continue to climb.

    For the third quarter, the company predicted revenue of $168.3 million to $176.2 million, below analysts' estimates of $177 million.

    The company, which runs language training classes, after-school tutoring and a private school in Yangzhou, has been expanding in mainland China due a to surge in the popularity of English lessons for children and adults. It has been aiming to balance its rapid growth with cost controls, however. New Oriental's revenue have been boosted by higher average-selling prices thanks to students choosing more expensive, smaller class-size courses.

    Enrollment was up 16% to 471,600 from the year earlier.

    For the seasonally light quarter ended Nov. 30, New Oriental reported income of $3.3 million, or 2 cents an American depositary share, up from $1.8 million, or 1 cent an ADS, a year earlier. Excluding share-based compensation and other items, earnings rose to 5 cents from 3 cents. Analysts polled by Thomson Reuters expected per-share earnings of 2 cents.

    Revenue increased 38% to $132 million, above the company's October guidance of $124.4 million to $129.1 million.

    The company's ADSs closed Friday at $25.22 and were inactive premarket. Shares are down 16% over the past three month>

22.42-0.18(-0.80%)Sep 12 4:05 PMEDT

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