New Oriental Q4 Results Top Estimates; Sees Sequentially Higher Revenues In Q1

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU), a provider of private educational services in China, reported Tuesday that its fourth-quarter net income attributable to the company increased 17.4% to $65.1 million from $55.42 million last year.

Earnings per ADS were $0.41, up 17 percent from $0.35 a year ago.

Adjusted attributable net income was $87.30 million, compared to $64.39 million a year ago. Adjusted earnings per ADS were $0.55, compared to $0.41 last year.

On average, 10 analysts polled by Thomson Reuters expected earnings of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenues increased 44.1% to $701.0 million from $486.35 million in the prior year. Analysts expected revenues of $676.36 million.

Total student enrollments in academic subjects tutoring and test preparation courses increased 44.9% year-over-year to approximately 2,058,000 for the fourth quarter.

Looking ahead for the first quarter, New Oriental expects total net revenues to be in the range of $829.9 million to $850.0 million, representing year-over-year growth in the range of 26% to 29%.

In pre-market activity on the NYSE, EDU shares were trading at $93, up 1.10%.