Corrects to show "swings to profit" in the headline instead of "profit declines" as reported in the original version of the story.
ChinaEdu Corp. (CEDU) announced financial results for the third quarter, posting net income attributable to the company of US$1.1 million or US$0.061 per ADS, compared to a loss of US$2.2 million or US$0.114 per ADS in the prior year period.
Adjusted net income attributable to the company was US$1.4 million or US$0.082 per ADS, compared to US$1.1 million or US$0.056 per ADS in the corresponding period last year.
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share. Analysts' estimates typically exclude special items.
Total net revenue for the third quarter was US$13.1 million, compared to US$12.0 million in last year quarter. Three Wall Street analysts expected revenues of $12.79 million.
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