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

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China Distance Education Holdings Limited (NYSE: DL) 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.

 

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