New Oriental Education Q1 Profit Up - Quick Facts

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU), a provider of private educational services mainly in China, reported that its first-quarter net income attributable to New Oriental advanced by 31.9% to $126.5 million, from $95.9 million last year. Excluding share-based compensation expenses, non-GAAP net income attributable to New Oriental totaled $131.9 million, or $0.84 a share in the latest quarter. On average, 6 analysts polled by Thomson Reuters expected earnings per share of $0.78 for the quarter. Analysts' estimates typically exclude one-time items.

For the quarter, total net revenues rose 15.7% year-over-year to $388.7 million from $335.8 million, while 7 analysts estimated revenues of $397.90 million for the quarter.

For the second quarter of fiscal 2014, the firm sees total net revenues in the range of $202.4 million to $210.7 million, representing year-on-year growth in the range of 22% to 27%. This reflects New Oriental's current and preliminary view, that is subject to change.