Noah Posts Q1 FY 2013 Loss of RMB 70,000
Noah Education, 11/20/12
Chinese interactive education content provider Noah Education (NYSE: NED) has announced its financial results for the 2013 fiscal year first quarter ended September 30, 2012. Q1 fiscal year 2013 revenue was RMB 38.8 mln (USD 6.2 mln), up 16.5% YoY
Net loss was RMB 70,000 (USD 10,000), as compared to a net income of RMB 1.8 mln in the year-ago period.
Revenue from kindergartens increased 3.2% YoY to RMB 15.9 mln (USD 2.5 mln) from RMB 15.4 mln. Revenue from primary and secondary schools increased 56.0% YoY to RMB 11.7 mln (USD 1.9 mln) from RMB 7.5 mln. Revenue from supplemental education, which includes English training courses and the sale of teaching materials, decreased by 0.9% YoY to RMB 11.2 mln (USD 1.8 mln) from RMB 11.3 mln.
As of Q1 2013, Noah is operating 50 schools and kindergartens in its network. The company completed acquisition of 10 schools from DKK Consulting and Xiaoxiao Consulting in November 2012, which are expected to contribute a total revenue of RMB 22 mln to RMB 25 mln in FY 2013.
To view the complete report please see here.
Keywords: Internet loss revenue Noah NED fiscal report online education
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