Four Seasons Education (FEDU) Tops Q3 EPS by 1c, Slight Miss on Revenues

Four Seasons Education (NYSE: FEDU) reported Q3 EPS of $0.07, $0.01 better than the analyst estimate of $0.06. Revenue for the quarter came in at $13.2 million versus the consensus estimate of $13.67 million.

Third Quarter Fiscal 2018 Financial and Operational Highlights:

• Revenue increased by 45.6% to RMB87.2 million (US$13.2 million) from RMB59.9 million in the same period of last year.
• Gross profit increased by 56.5% to RMB57.1 million (US$8.6 million), from RMB36.5 million in the same period of last year. Gross margin was 65.4%, compared with 60.9% in the same period of last year.
• Operating income increased by 9.9% to RMB21.6 million (US$3.3 million), from RMB19.7 million in the same period of last year.
• Adjusted operating income(1) (non-GAAP) increased by 34.5% to RMB27.9 million (US$4.2 million) from RMB20.8 million in the same period of last year.
• Net income reached RMB10.7 million (US$1.6 million), an increase of 10.9% from RMB9.6 million in the same period of last year.
• Adjusted net income(2) (non-GAAP) increased by 58.6% to RMB17.0 million (US$2.6 million) from RMB10.7 million in the same period of last year. Adjusted net margin(3) (non-GAAP) was 19.5%, compared with 17.9% in the same period of last year.
• Basic and diluted net income per American Depositary Share (\"ADS\") attributable to ordinary shareholders was RMB0.27 (US$0.04) and RMB0.26 (US$0.04), respectively, compared with RMB0.25 and RMB0.24, respectively, for the same period of last year. Each two ADSs represent one ordinary share.
• Adjusted basic and diluted net income per ADS attributable to ordinary shareholders (non-GAAP) was RMB0.46 (US$0.07) and RMB0.44 (US$0.07), respectively, compared with RMB0.29 and RMB0.28, respectively, for the same period of last year.
• Number of learning centers reached 33 as of November 30, 2017, compared to 25 as of November 30, 2016.
• Total student enrollment(4) reached 50,221, up 9.0% from 46,080 during the same period of last year.

For earnings history and earnings-related data on Four Seasons Education (FEDU) click here.

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