Boston, MA 10/24/2013 (wallstreetpr) – The prevalent provider of educational services in China, New Oriental Education & Tech Grp (ADR) (NYSE:EDU) today publicized its unaudited financial results for the first fiscal quarter that ended August 31, 2013.
Net revenues for the company have increased by 15.7% to $388.7 million as compared to the same period of the previous fiscal year.
Net income has also increased by 31.9% to $126.5 million as compared to the same period of the last fiscal year.
Non GAAP net income after excluding the entire share based compensation expenses has also jumped 28.5% to $131.9 million as compared to $102.6 million in the same period of the last fiscal year.
Non GAAP operating income also showed the same increasing trend and has increased by 30.1% to $140.8 million from $108.3 million last year after excluding all the share based compensations.
Operating income of the education giant has also jumped 33.4% to $135.5 million from $101.6 million in the same period of the previous fiscal year.
Diluted and basic net incomes attributable to the organization per ADS (American Depositary Share) are $0.81 and $0.82 respectively.
Non GAAP diluted and basic net incomes per ADS after excluding all the share based compensations are $0.84 and $0.85 respectively. Each American Depositary Share signifies one common share of New Oriental Education.
The number of total students enrolled in different test preparation courses and academic subjects also increased 2.3% to 919,400 approx as compared to 898,900 students in the same period of the previous fiscal year.
As of August 21, 2012, total numbers of learning centers and schools for New Oriental Education were 726, but this year showed a reduction of 13 schools and learning centers and now the figure totals 713.