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New Oriental FY 2009 Q2 Net Profit Up 58%

New Oriental, 1/19/09

Chinese education services provider New Oriental (NYSE: EDU) has announced its unaudited financial results for the second quarter of fiscal year 2009 ended November 30, 2008, with net revenues reaching USD 49.4 mln, up 53.7% year-on-year and 43% quarter-on-quarter.

Net income for the quarter came to USD 3.1 mln, up 57.5% YoY.

During the quarter, total student enrollments in language training and test preparation courses increased by 13.4% year-on-year to approximately 292,200.

The total number of schools and learning centers increased by 25 to 247.

The company expects its total net revenues for the third fiscal quarter ending February 28, 2009 to be in the range of USD 65.5 mln to USD 67.5 mln, representing year-on-year growth in the range of 36.2% to 40.3%, respectively.

To see New Orientals's full earnings report, please click here.

Keywords: Internet EDU online education New Oriental profit Q2 2008/09 fiscal report revenue

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