New Oriental Education And Technology Q1 Profit Down - Quick Facts

(RTTNews) - New Oriental Education and Technology Group Inc.'s (EDU) first-quarter net income attributable to New Oriental slid to $112.36 million, or $0.71 per ADS, from $126.48 million, or $0.81 per ADS, last year. On a non-GAAP basis, quarterly net income per ADS attributable to New Oriental amounted to $0.73. On average, 4 analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share for the quarter. Analysts' estimates typically exclude special items.

Operating income fell by 18.4% year-over-year to $110.5 million for the latest quarter.

However, total net revenues for the first quarter of 2015 rose by 1.4% year-on-year to $394.0 million from $388.66 million, reflecting several previously disclosed headwinds during the start of the fiscal year. Wall Street estimated revenues of $417.16 million for the quarter.