Plus   Neg

TAL Education Posts Loss In Q4

China's after-school tutoring services provider TAL Education Group (TAL) Tuesday reported a net loss for the fourth quarter, reflecting higher expenses and an impairment charge, despite higher revenues.

The Group reported a net loss attributable to the company of $90 million or 45 cents a share, compared to a net profit of $98.3 million or 50 cents a share last year. On a non-GAAP basis, net loss per ADS, which excluded share-based compensation expenses, was 10 cents, versus profit per ADS of 20 cents last year.

Loss from operation for the period totaled $41.3 million, compared to income from operations of $114.7 million a year ago. During the quarter, operating costs and expenses surged 47 percent to $899.3 million, while non-GAAP operating costs and expenses, which excluded share-based compensation expenses, grew 46.9 percent to $866.5 million.

Net revenues for the fourth quarter grew by 18.0 percent to $857.7 million from $726.6 million, mainly driven by 56.6 percent growth in total student enrollments of normal priced long-term course.

Looking ahead, TAL expects net revenues for the first quarter in the range of $875.4 million - $895.6 million, representing an increase of 30 - 33 percent year-over-year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements. Amid the worsening coronavirus pandemic and mounting costs, banking major Wells Fargo & Co. is preparing to cut thousands of jobs starting later this year, Bloomberg Law reported. Citing people with knowledge of the confidential talks, the report noted that executives are drafting plans that may ultimately eliminate tens of thousands of positions from its about 263,000 workforce. KIND Healthy Snacks is recalling a limited number of Oats & Honey Granola pouches citing the presence of undeclared sesame seeds, the U.S. Food and Drug Administration announced. The recall involves KIND Oats & Honey Granola with Toasted Coconut. Sesame seeds, a known allergen, is not listed as an ingredient in the product, instead, the label lists "sesame seeds" under the "May Contain
Follow RTT