China Distance Education Holdings Reports Q4 Revenues $13.1M vs $13.17M Est

China Distance Education Holdings Limited

reported today its unaudited financial results for the fourth quarter and fiscal year ended September 30, 2011. Fourth Quarter Fiscal 2011 Business and Financial Highlights: Total course enrollments from continuing operations were 536,000, an increase of 33.7% from the fourth quarter of fiscal 2010. Net revenues from continuing operations increased 18.2% over the fourth quarter of fiscal 2010 to US$13.1 million. Gross profit from continuing operations increased 6.3% over the fourth quarter of fiscal 2010 to US$6.8 million. Non-GAAP(1) gross profit from continuing operations increased 11.2% over the fourth quarter of fiscal 2010 to US$7.7 million. Gross profit margin from continuing operations was 51.7%, compared to 57.4% in the fourth quarter of fiscal 2010. Non-GAAP(1) gross margin from continuing operations was 58.6%, compared to 62.3% in the same period last year. Operational loss from continuing operations was US$0.6 million, compared to operating income of US$0.9 million in the fourth quarter of fiscal 2010. Non-GAAP operating income from continuing operations was US$2.5 million, a 3.7% increase from the fourth quarter of fiscal 2010. Net loss was US$4.1 million, compared to net loss of US$2.1 million in the fourth quarter of fiscal 2010. Non-GAAP(1) net income was US$0.9 million, compared to non-GAAP(1) net income of US1.3 million in the fourth quarter of fiscal 2010. Basic and diluted net loss per American Depositary Share ("ADS") were US$0.128 compared to basic and diluted net loss per ADS of US$0.060 for the fourth quarter of fiscal 2010. Each ADS represents four ordinary shares. Basic and diluted non-GAAP(1) net income per ADS were US$0.030, compared to basic and diluted non-GAAP(1) net income per ADS of US$0.038 for the fourth quarter of fiscal 2010. Deferred revenue and refundable fees balance was US$10.4 million, a 14.6% increase from the balance of the fourth quarter of fiscal 2010.