TAL Education Q4 Profit Surges, Sees Revenue Growth Of Up To 44% In Q1

(RTTNews) - TAL Education Group (XRS), China-based K-12 after-school tutoring services provider, Tuesday reported fourth-quarter net income attributable to the company of $16.71 million, up 144.0% from $6.85 million in the prior year.

On a per share basis, earnings were $0.10, up from $0.04 per share reported last year.

Earnings per American Depositary Share,or ADS were $0.21, compared to $0.09 per share last year. Non-GAAP net income per ADS, which excluded share-based compensation expenses, were $0.24, while the firm posted $0.11 per share last year.

For the fourth quarter ended February 28, 2014, net revenues climbed 45.9% to $87.0 million from $59.65 million in the same quarter last year. The increase was mainly driven by total student enrollments increase, combined with increased average selling prices, the company said.

Total student enrollments increased by 38.8% year-over-year to about 348,000.

Looking ahead to the first quarter, the company expects total net revenues to be between $85.9 million and $88.4 million, representing an increase of 40% to 44% on a year-over-year basis, assuming no material change in exchange rates.