Tarena Posts Profit In Q2; Names Ping Wei CFO

(RTTNews) - Tarena International, Inc. (TEDU) reported second quarter non-GAAP net income of RMB 49.1 million, compared to a non-GAAP net loss of RMB 72.5 million, last year. Non-GAAP income per ADS was RMB 4.39, compared to a non-GAAP loss per ADS of RMB 6.61.

Net income was RMB 47.9 million, compared to a net loss of RMB 76.7 million, last year. Income per ADS was RMB 4.29, compared to a loss per ADS of RMB 6.97.

Net revenues increased by 11.4% year-over-year to RMB 648.8 million. Total student enrollments in childhood & adolescent quality education business was 176,500, an increase of 25.9%.

For the third quarter, the company projects total net revenues to be in the range of RMB 620 million and RMB 650 million, an increase of 0.8% to 5.7% from prior year.

The board of Tarena has appointed Ping Wei as chief financial officer. Prior to joining Tarena, Wei served as a partner and the chief financial officer of a private venture-backed company focusing on community group buying. Prior to that, Wei served as the chief financial officer of Gravitas Education Holdings, Inc.

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