Bright Scholar Education Holdings Limited (NYSE: BEDU) reported Q4 EPS of ($0.06), $0.06 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $99.46 million versus the consensus estimate of $88.18 million.

"As a Company with a commitment to delivering academic excellence, we take great pride in our reputation as a trusted provider of premium education services," said Jerry He, Executive Vice Chairman of Bright Scholar. "Fiscal 2019 marks a transformational year in scaling up our business and reflects our ongoing dedication to making significant investments in expanding our global footprint and broadening our service offerings."

"We have successfully expanded our global school network through organic and acquisitive growth, in particularly, the acquisition of Bournemouth Collegiate School, St Michael's School, Bosworth Independent College and CATS Colleges which firmly established our positions outside of China." Mr. He continued, "I am pleased to report that we have completed these transactions by September 2019 and as of November 7, 2019, we own 7 schools in the UK and 1 boarding school in the US with a total of more than 2,500 students enrolled. The expansion into the UK and US markets represent the first step of our long-term goal of growing our footprint beyond China and capitalizing on global growth opportunities. As of the release date, we have a global network of 88 schools with a total capacity of 67,194 students."

Mr. He concluded, "The financial impact of these transactions is significant as it structurally changes our revenue mix which will be fully reflected in the revenue growth for fiscal 2020. The strategic investments over the last 2 fiscal years accelerated the pace of building the Company into a global premier education service company with the goal to create the best learning experience for our students and substantial values for our stakeholders."

"Bright Scholar delivered third consecutive year of robust topline growth well ahead of expectations in fiscal 2019. The year over year revenue growth exceeded top end of our revised guidance by 4.2% to 49.1%, with 31.3% organically and 17.8% from acquisitions," said Derek Feng, Chief Executive Officer of Bright Scholar.

"Fiscal 2019 represents a significant inflection point in our business scale, with our revenue growing to RMB2,563 million compared to RMB1,719 million in fiscal 2018 and RMB1,328 million in fiscal 2017. Our overarching strategy is to expand our business portfolios, enhance academic performance, strengthen operational performance, optimize synergies from acquired businesses, broaden our service offering and diversify our revenue streams. In addition to continue driving operating efficiencies, we are also reinvesting part of the margin expansion in enhancing operating capabilities to position the business for future growth."

Mr. Feng concluded, "As fiscal 2020 gets underway, we are working from a strong position to vigorously pursue our exciting growth opportunities through three major business segments, domestic K-12 schools, overseas schools and complementary education. We remain laser-focused on delivering high quality education service, expanding global platform, building business scale, creating and maximizing value for our students and stakeholders."

GUIDANCE FOR FISCAL YEAR ENDING AUGUST 31, 2020

For the fiscal year 2020, the Company currently expects its revenue to be in a range of RMB4.0 billion and RMB4.1 billion, representing a year-over-year growth of 56% to 60%, and its average student enrollment to be between approximately 53,200 and 53,600, representing a year-over-year increase of 14% to 15%. The Company also expects to open seven new kindergartens for the 2020 fiscal year.

For earnings history and earnings-related data on Bright Scholar Education Holdings Limited (BEDU) click here.