China Distance Education (DL) Tops Q4 EPS by 9c
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
China Distance Education (NYSE: DL) reported Q4 EPS of $0.39, $0.09 better than the analyst estimate of $0.30. Revenue for the quarter came in at $38.2 million versus the consensus estimate of $35.7 million.
Mr. Zhengdong Zhu, Chairman and CEO of CDEL, said, "We are pleased to finish the fiscal year by exceeding our quarterly and full year guidance ranges, recording net revenue of $38.2 million in the fourth quarter and $117.5 million in fiscal 2016, representing year-over-year growth of 7.5% and 8.7%, respectively. Revenue growth from our accounting and engineering and construction verticals, books and reference materials and Xiamen NetinNet together contributed to our fourth quarter performance."
Mr. Zhu added, "In fiscal 2016, we made steady progress in our strategic growth initiatives, notably K-12 teacher continuing education, our Open Learning Platform, mobile related products, Big Data solutions, and our College Cooperation Program, as well as the acquisition of an 80% equity interest in Xiamen NetinNet and the successful listing and planned share issuance of our Zhengbao Yucai subsidiary on China's New Third Board. Heading into fiscal 2017, we look forward to executing our growth initiatives, while always being vigilant to acquisition and strategic investment opportunities, with the goal of continuing to drive shareholder value."
Mr. Zhu concluded, "We are pleased to report that in August 2016 we concluded our year-long share repurchase program and are happy to report that, during this period, the Company repurchased 3.1 million ADS in the open market for a consideration of the full authorization of $40.0 million. We are proud that our strong cash generating ability allows us to consistently hold true to our commitment to maximizing shareholder value."
For earnings history and earnings-related data on China Distance Education (DL) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teva Pharma (TEVA) Appoints New Global Generic Medicines Group CEO; FY16 Guidance Affirmed
- Kinder Morgan (KMI) Sees FY17 Distributable Cash Flow of $4.46B
- Micron (MU) PT Raised to $25 at Brean Capital; Upbeat on Low Inventories
Create E-mail Alert Related CategoriesEarnings, Management Comments
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!