New Oriental FY 2008 Net Revenue Up 51.6%
New Oriental Press Release, 7/17/08
Chinese education services provider New Oriental (NYSE: EDU) has issued its earnings report for the fourth-quarter and fiscal year ended May 31, 2008, with quarterly net revenues reaching USD 40.2 mln, up 62.5% year-on-year. Fiscal-year net revenues rose to USD 201 mln, an increase of 51.6% over the previous year.
Net income for the quarter came to USD 1.8 mln, compared to a loss of USD 1.5 mln for the same period in the previous year. Net income for the fiscal year increased 71.4% to USD 49 mln.
During the fiscal year, total student enrolments in language training and test preparation courses increased 19.1% to approximately 1,271,700.
New Oriental expects its total net revenues in the first quarter of fiscal year 2009 (June 1, 2008 to August 31, 2008) to be in the range of USD 103.8 mln to USD 109.5 mln, representing year-on-year growth in the range of 28% to 35%, respectively.
To view New Oriental's extended Q4 and fiscal-year earnings report, please click here.
Keywords: online education EDU 2008 Internet New Oriental fiscal report
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