Tarena Int'l (TEDU) Misses Q1 EPS by 2c, Beats on Revenues

Tarena Int'l (NASDAQ: TEDU) reported Q1 EPS of ($0.03), $0.02 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $48.28 million versus the consensus estimate of $47.58 million.

*1 RMB = $0.15 USD

First Quarter 2017 Highlights

• Net revenues increased by 23.5% year-over-year to RMB332.7 million from RMB269.5 million in the same period in 2016.
• Gross profit increased by 18.1% year-over-year to RMB204.9 million from RMB173.5 million in the same period in 2016.
• Operating loss was RMB34.1 million, compared to an operating loss of RMB19.7 million in the same period in 2016.
• Non-GAAP operating loss, which excluded share-based compensation expenses, was RMB23.0 million, compared to a non-GAAP operating loss of RMB3.9 million in the same period in 2016.
• Net loss was RMB24.6 million, compared to a net loss of RMB24.5 million in the same period in 2016.
• Non-GAAP net loss, which excluded share-based compensation expenses and loss on foreign currency forward contract, was RMB13.5 million, compared to a non-GAAP net income of RMB10.9 million in the same period in 2016.
• Basic and diluted loss per American Depositary Share (\"ADS\") were RMB0.44. Non-GAAP basic and non-GAAP diluted loss per ADS, which excluded share-based compensation expenses and loss on foreign currency forward contract, were RMB0.24. Each ADS represents one Class A ordinary share.
• Net cash inflow from operating activities for the first quarter of 2017 was approximately RMB177.5 million.
• Cash and time deposits totaled RMB1,450.2 million as of March 31, 2017, compared to RMB1,286.1 million as of December 31, 2016.
• Deferred revenue totaled RMB399.1million as of March 31, 2017, compared to RMB229.2 million as of March 31, 2016, representing a year-over-year increase of approximately 74.1%.
• Total course enrollments[1], defined as the cumulative number of courses enrolled in by our students, in the first quarter of 2017 increased by 16.0% year-over-year to 24,500.
• Total student enrollments[2], defined as the total number of new students recruited and registered, in the first quarter of 2017 increased by 20.6% year-over-year to 27,785.
• Total seat capacity[3], defined as the total number of seats available in our learning centers, increased by 20.0% to 52,822 as of March 31, 2017, from 44,004 as of March 31, 2016.
• Total number of learning centers[4] increased to 160 as of March 31, 2017, from 135 as of March 31, 2016.
• Total student enrollments in kid education programs, defined as the total number of students recruited and registered in our kid education programs, in the first quarter of 2017 increased by 304.1% year-over-year to 994.

For earnings history and earnings-related data on Tarena Int'l (TEDU) click here.

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