New Oriental Education And Technology Q2 Profit Falls - Quick Facts

(RTTNews) - New Oriental Education and Technology Group Inc.'s (EDU) second-quarter fiscal 2015 net income attributable to New Oriental decreased by 44.0% year-on-year to $2.4 million, or $0.02 per ADS, from $4.27 million, or $0.03 per ADS.

On a non-GAAP basis, net income attributable to New Oriental amounted to $7.73 million, or $0.05 per ADS for the recent period. On average, 4 analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenues were up 13.4% to $236.2 million for the second quarter of 2015, from $208.33 million last year. Total net revenues would have increased 15.4% if including $4.1 million of temporarily deferred revenue resulting from the Company's new customer loyalty programs, the company noted. Wall Street estimated revenues of $235.42 million for the quarter.