China Distance Education Turns Q4 FY 2012 Profit of USD 4 Mln
China Distance Education, 11/28/12
Chinese online education provider China Distance Education Holdings Limited (CDEL) (NYSE: DL) has announced its financial results for the three months and fiscal year ended September 30, 2012. Q4 FY 2012 net revenues from continuing operations were USD 16.7 mln, representing a YoY increase of 27.8% from USD 13.1 mln in the fourth quarter of FY 2011. Net revenues for FY 2012 were USD 52.1 mln, an increase of 25.4% YoY.
Net income for Q4 FY 2012 was USD 3.7 mln, as compared to a net loss of USD 4.1 mln in the same period last fiscal year. Net income for FY 2012 was USD 8.2 mln, as compared to a loss of USD 3.8 mln in fiscal year 2011.
Net revenues from online education services for Q4 FY 2012 were USD 14.0 mln, an increase of 41.4% YoY from USD 9.9 mln in the fourth quarter of FY 2011. The increase was mainly a result of increased revenue in accounting test preparation courses, accounting continuing education courses, healthcare and construction engineering courses and the net impact of delayed examinations time of APQE courses. Net revenues from online education services for FY 2012 increased by 30.8% YoY to USD 40.3 mln from USD 30.8 mln in the fiscal year 2011.
Books and reference materials revenue was USD 2.1 mln for Q4 FY 2012, an increase of 29.1% YoY from the USD 1.6 mln in the same period of last year. Net revenues from books and reference materials for FY 2012 decreased by 6.4% YoY to USD 4.4 mln from USD 4.7 mln in the fiscal year 2011.
Net revenues from other services decreased by 13.7% YoY to USD 1.7 mln for Q4 FY 2012 from USD 1.9 mln a year before. The decrease was mainly a result of decreased revenue in magazine content production services, offline business start-up training courses, and other offline supplementary training courses. For FY 2012, net revenue from other services increased by 22.4% YoY to USD 7.4 mln.
Total course enrollments from continuing operations for Q4 FY 2012 was 704,000, an increase of 31.3% YoY from the fourth quarter of FY 2011.Total course enrollments from continuing operations for FY 2012 were 2,203,000, representing a 37.6% increase YoY.
The company expects to generate total net revenues from continuing operations for the first quarter of fiscal 2013 in the range of USD 12.0 mln to USD 12.5 mln, as compared to net revenues from continuing operations of USD 9.9 mln in the first quarter of FY 2012, representing an increase of 21.2% to 26.3% YoY.
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Keywords: Internet profit revenue China Distance Education Holdings online education DL fiscal report distance learning
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