New Oriental Education And Technology Q4 Profit Declines - Quick Facts

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU) posted fourth-quarter fiscal 2015 net income attributable to New Oriental of US$35.2 million, or US$0.23 per ADS, down from US$42.9 million, or US$0.27 per ADS in the comparable quarter last year.

On a non-GAAP basis, net income attributable to New Oriental for the latest fourth quarter amounted to US$40.4 million, or US$0.26 per ADS, compared to US$46.8 million or US$0.30 per ADS in the prior year period.

Total net revenues for the current quarter were US$328.81 million, up 14.4% from US$287.49 million, last year.

Net revenues from educational programs and services for the fourth fiscal quarter were US$267.6 million, representing a 13.3% increase year-over-year. The growth was mainly driven by increases in student enrollments in K-12 after-school tutoring courses and in average selling price of test preparation courses.

New Oriental's board of directors has declared a special cash dividend in the amount of US$0.4 per ADS/common share. The cash dividend will be paid on October 7, 2015 to shareholders of record at the close of business on September 4, 2015. The ex-dividend date will be October 5, 2015.