New Oriental Education Reports Q2 EPS $0.05 vs $0.02 Est; Revenues $132M vs $129.46M Est

New Oriental Education and Technology Group EDU today announced its unaudited financial results for the fiscal quarter ended November 30, 2011, which is the second quarter of New Oriental's fiscal year 2012. Highlights for the Second Fiscal Quarter Ended November 30, 2011 Total net revenues increased by 38.0% year-over-year to US$132.0 million from US$95.7 million in the same period of the prior fiscal year. Net income attributable to New Oriental increased by 80.5% year-over-year to US$3.3 million from US$1.8 million in the same period of the prior fiscal year. Non-GAAP net income attributable to New Oriental, which excludes share-based compensation expenses, increased by 46.0% year-over-year to US$7.5 million from US$5.2 million in the same period of the prior fiscal year. Loss from operations increased by 94.6% year-over-year to US$4.0 million from US$2.1 million in the same period of the prior fiscal year. Non-GAAP income from operations, which excludes share-based compensation expenses, decreased by 81.2% year-over-year to US$0.2 million from US$1.3 million in the same period of the prior fiscal year. Basic and diluted net income attributable to New Oriental per ADS were US$0.02 and US$0.02, respectively. Non-GAAP basic and diluted net income per ADS, which excludes share-based compensation expenses, were US$0.05 and US$0.05, respectively. Each ADS represents one common share of the Company. Total student enrollments in academic subjects tutoring and test preparation courses increased by 16.2% year-over-year to approximately 471,600 from approximately 405,800 in the same period of the prior fiscal year. Total number of schools and learning centers increased to 527 in the quarter ended November 30, 2011, up from 488 in the previous quarter. New Oriental built a net of 39 learning centers in the quarter.