New Oriental Education And Technology Q3 Profit Increases

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU) Tuesday announced 1.1 percent increase in third quarter attributable net income to $68.376 million from $67.784 million a year ago. On an adjusted basis net income attributable was $91.165 million. On a per ADS basis net income was $0.43, up 0.7 percent from the prior year.

On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.53 per share. Analysts estimates usually exclude special items.

Net Revenues for the quarter surged 41.2 percent to $618.08 million from $437.849 million in the prior year. Analysts expected revenue of $600 million.