Last $3.04 USD
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Volume 261.6K
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As of 4:15 PM 10/1/14 All times are local (Market data is delayed by at least 15 minutes).

xueda education gr-spon adr (XUE) Key Developments

Xueda Education Group Reports Unaudited Consolidated and Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

Xueda Education Group reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $120.810 million against $114.627 million a year ago. Income from operations was $18.331 million against $21.544 million a year ago. Income before income tax expenses was $19.923 million against $23.561 million a year ago. Net income attributable to company was $15.256 million against $17.170 million a year ago. Diluted net income attributable to company per ADS for the second quarter 2014 was $0.24 per ADS, compared to $0.26 per ADS for the second quarter 2013. Non-GAAP income from operations was $19.821 million against $22.650 million a year ago. Non-GAAP net income attributable to company was $16.746 million against $18.276 million a year ago. Basic and diluted non-GAAP net income attributable to company was $0.27 against $0.28 a year ago. The decrease in operating income was primarily due to lower gross profit. Net operating cash outflow for the second quarter 2014 was $19.7 million, compared to $5.3 million cash outflow for the second quarter 2013. The increase in net operating cash outflow was mainly due to lower cash collections from enrollment and renewals. Capital expenditures for the second quarter 2014 were $3.7 million, compared to $1.7 million for the second quarter 2013. The increase in capital expenditures was attributed to the increase in new learning centers in the second quarter 2014, compared to the net decrease of 2 learning centers in the second quarter 2013. For the six months the company reported net revenues of $206.064 million against $198.528 million a year ago. Income from operations was $18.633 million against $23.218 million a year ago. Income before income tax expenses was $21.691 million against $26.794 million a year ago. Net income attributable to company was $16.412 million against $19.187 million a year ago. Diluted net income attributable to company per ADS for the first half 2014 was $0.25, compared to $0.29 for the corresponding period in 2013. Non-GAAP income from operations was $22.938 million against $25,356 million a year ago. Non-GAAP net income attributable to company was $20.717 million against $21.325 million a year ago. Diluted non-GAAP net income attributable to company was $0.31 against $0.32 a year ago. Net operating cash outflow for the first half 2014 was $2.6 million, compared to an $18.5 million cash inflow for the corresponding period in 2013. The increase in net operating cash outflow was mainly due to lower cash collection from new enrollment and renewals. Capital expenditures for the first half 2014 were $7.1 million, compared to $4.1 million for the corresponding period in 2013. For the third quarter of 2014, the company expects net revenues to be at least $73.0 million, a decrease of approximately 8% from the same quarter of the previous year. Non-GAAP net loss attributable to company per ADS to be approximately $0.08, compared to non-GAAP diluted net income attributable to company per ADS of $0.04 for the same quarter of the previous year. This estimate assumes a full-year effective income tax rate of 27% on non-GAAP income before income tax and weighted average basic ADSs of 62.2 million. For the full year of 2014, the company expects net revenues to be at least $347.5 million, flat from the previous year. Non-GAAP diluted net income attributable to company per ADS to be at least $0.16, compared to $0.32 from the previous year, representing a 50% year-over-year decrease. This estimate assumes an effective income tax rate of 27% on non-GAAP income before income tax and weighted average diluted ADSs of 65.1 million.

Xueda Education Group to Report Q2, 2014 Results on Aug 25, 2014

Xueda Education Group announced that they will report Q2, 2014 results at 5:00 PM, China Standard Time on Aug 25, 2014

Xueda Education Group, Q2 2014 Earnings Call, Aug 25, 2014

Xueda Education Group, Q2 2014 Earnings Call, Aug 25, 2014

Xueda Education Group Presents at Nomura China Investor Forum 2014, Sep-03-2014

Xueda Education Group Presents at Nomura China Investor Forum 2014, Sep-03-2014 . Venue: Pudong Shangri-la, The River Wing, Shanghai, China.

Xueda Education Group Presents at Second Annual MarcumBP China Best Ideas Investment Conference, Sep-15-2014

Xueda Education Group Presents at Second Annual MarcumBP China Best Ideas Investment Conference, Sep-15-2014 . Venue: St. Regis Hotel, 21 Jianguomenwai Dajie, Beijing 100020, China.

 

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ChinaCast Education Corp $0.01 USD 0.00
New Oriental Education & Technology Group Inc $23.06 USD -0.14
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