Tuesday, New Oriental Education and Technology Group Inc. (EDU) said its first-quarter net income attributable to the company increased to US$57.06 million or US$0.37 per share from US$44.90 million or US$0.29 per share in the year-ago period. Earnings per ADS for the recent quarter were US$1.47, higher than US$1.17 in the previous year.
Non-GAAP net income for the quarter jumped 24.6% to US$60.77 million from US$48.79 million a year ago. Non-GAAP net income per ADS grew to US$1.57 from US$1.27 in the last year. On average, 6 analysts polled by Thomson Reuters expected earnings per share of $1.57 for the quarter. Analysts' estimate typically exclude one-time items.
Total net revenues for the quarter rose to US$149.36 million from US$118.26 million in the comparable period. Analysts estimated revenues of US$154.57 million for the quarter.
New Oriental expects second-quarter fiscal 2010 total revenues to be in the range of US$60.8 million - US$62.8 million, reflecting its current and preliminary view, which is subject to change. Analysts estimate revenues of US$61.95 million for the second quarter of fiscal 2010.
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