UPDATE: New Oriental Education Q4 Profit Up 14%
New Oriental Education & Technology Group (NYSE: EDU) reported a 14% rise in its fourth-quarter earnings.
New Oriental Education projects current-quarter revenue of $342.7 million to $356.3 million, versus analysts' estimates of $354 million.
New Oriental Education's quarterly profit surged to $16.3 million, or 10 cents per American depositary share (ADS), up from $14.3 million, or 9 cents per ADS, in the year-ago period. However, analysts were expecting earnings of $0.11 per ADS.
Its revenue jumped 41% to $193.3 million, versus its April forecast of $182.7 million to $189.6 million.
Its operating margin fell to 4.9% from 7.6%.
New Oriental Education shares closed at $22.26 yesterday.
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