New Oriental Education And Technology Q2 Profit Climbs 12.3%

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU) Tuesday announced 12.3 percent increase in first quarter net profit attributable to New Oriental to $158.39 million from $141.94 million in the prior year. On a per share basis, net profit per ADS attributable was $1, up 11.9 percent from $0.90 in the same quarter a year ago.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $1.04 per share. Analysts estimates usually exclude special items.

Net revenue for the quarter climbed 23.8 percent to $661.17 million from $534.07 million last year. Wall Street expected $642.19 million.

Looking ahead to the second quarter, the company expects net revenue in the range of $447 million to $460.7 million, up 31 to 35 percent from the prior year. For the next quarter the revenue projection is $427.77 million.