New Oriental Education Q4 Profit Rises; Sees Sequentially Higher Revenues In Q1

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU), the largest provider of private educational services in China, reported Wednesday that its fourth-quarter net income attributable to the company increased 17.6 percent year-over-year to $42.0 million from $35.72 million last year. Net income per ADS was $0.27, up 16.8 percent.

Adjusted attributable net income was $45.65 million or $0.29 per share, compared to $40.41 million or $0.26 per share last year.

Operating income increased 61.1 percent year-over-year to $37.1 million.

Total net revenues increased 20.1 percent to $394.9 million from $328.81 million last year.

Total student enrollments in tutoring and test preparation courses for academic subjects increased 32.5 percent year-over-year to approximately 1,037,700 for the fourth quarter.

Looking ahead, New Oriental expects total net revenues in the first quarter of fiscal year 2017 to be in the range of $508.9 million to $527.3 million, representing year-over-year growth in the range of 11 percent to 15 percent.