China Distance Education (DL) Tops Q2 EPS by 1c; Offers Q2, FY16 Outlook
China Distance Education (NYSE: DL) reported Q2 EPS of $0.09, $0.01 better than the analyst estimate of $0.08. Revenue for the quarter came in at $24.1 million versus the consensus estimate of $24.56 million.
- Total course enrollments reached 593,000, an increase of 14.9% from the second quarter of fiscal 2015.
- Cash receipts from online course registration were $28.1 million, a 1.8% decrease from the second quarter of fiscal 2015. Excluding the impact of the depreciation of the Renminbi against the U.S. Dollar, cash receipts from online course registration increased by 2.9% year-over-year.
For the third quarter of fiscal 2016, the Company expects to generate total net revenues in the range of $27.3 million to $28.8 million, representing a year-over-year decline of approximately 5% to 0%.
For fiscal year 2016, the Company expects to generate total net revenues in the range of $108.2 million to $113.6 million, representing year-over-year growth of approximately 0% to 5%. The Company's prior fiscal 2016 full year total net revenue guidance range was $124.4 million to $129.8 million.
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