New Oriental Education Down 10% After Company Misses Earnings Estimates

New Oriental Education

is down nearly 10% after the company missed EPS by $0.01 in its recent earnings report. 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.