BEIJING, Aug. 18, 2015 /PRNewswire/ -- China Distance
Education Holdings Limited (NYSE: DL) ("CDEL", or the "Company"), a
leading provider of online education in China focusing on professional education,
today announced unaudited financial results for the third quarter
of fiscal 2015 ended June 30,
2015.
Third Quarter Fiscal 2015 Financial and Operational
Highlights
- Total course enrollments were approximately 850,000 in the
third quarter of fiscal 2015, a decrease of 8.1% from the third
quarter of fiscal 2014.
- Cash receipts from online course registration increased by 9.7%
to $28.7 million from the third
quarter of fiscal 2014.
- Net revenue increased by 15.3% to $28.8
million from $25.0 million in
the prior year period, exceeding the Company's prior guidance range
of $27.5 million to $28.7
million.
- Gross profit increased by 19.9% to $17.4
million from $14.5 million in
the prior year period.
- Non-GAAP1 gross profit increased by 20.2% to
$17.4 million from $14.5 million in the prior year period.
- Gross margin was 60.5%, compared with 58.1% in the prior year
period. Non-GAAP1 gross margin was 60.6%, compared with
58.1% in the prior year period.
- Operating income decreased by 1.5% to $5.9 million from $6.0
million in the prior year period.
- Non-GAAP1 operating income increased by 4.1% to
$6.4 million from $6.1 million in the prior year period.
- Net income decreased slightly by 0.3% to $5.2 million from $5.3
million in the prior year period.
- Non-GAAP1 net income increased by 6.0% to
$5.7 million from $5.4 million in the prior year period.
- Basic and diluted net income per American Depositary Share
("ADS") was $0.146, and $0.146, respectively, representing a slightly
year-over-year decrease of 1.4% and 0.7%, from a basic and diluted
net income per ADS of $0.148 and
$0.147, respectively, for the third
quarter of fiscal 2014. Each ADS represents four ordinary
shares.
- Basic and diluted non-GAAP1 net income per ADS was
$0.161 and $0.160, respectively, representing a
year-over-year increase of 5.9% and 6.0%, respectively, from a
basic and diluted non-GAAP1 net income per ADS of
$0.152 and $0.151, respectively, for the third quarter of
fiscal 2014.
- Operating cash inflow was $13.5
million, as compared to operating cash outflow of
$8.0 million in the third quarter of
fiscal 2014. Operating cash outflow in the third quarter of fiscal
2014 included the payback of $25.0
million of proceeds held temporarily for certain selling
shareholders of the Company's follow-on public offering completed
in March 2014.
Mr. Zhengdong Zhu, Chairman and
CEO of CDEL, said, "Third quarter revenue was slightly above the
high end of our guidance, led by robust revenue growth in our
health-care vertical. During the third quarter, we continued to
execute on our key strategic initiatives, and we remain focused on
delivering the highest quality courses, services and learning
technology to meet the needs of our course participants as they
advance in their careers. In addition, our College Cooperation
Program is on track to kick off at our partnered colleges and
universities this September. We look forward to expanding this
program to more colleges and universities and we believe it will
become another important driver of our business growth."
Mr. Mark Marostica, Co-Chief
Financial Officer of CDEL, added, "We continue to post strong cash
revenue and enrollment growth in our health-care vertical, which
contributed to third quarter revenue growth above our guidance.
However, cash revenue in our accounting and engineering and
construction verticals tracked below expectations during the third
quarter. Despite the third quarter overlapping with our peak
enrollment period, we recorded lower-than-expected test preparation
enrollments in both our accounting and engineering and construction
verticals. Consequently, we anticipate slower revenue growth in our
fourth fiscal quarter, and we are focused on implementing prudent
cost controls to cushion the impact of slower revenue growth on our
overall profitability."
1 For more
information about the non-GAAP financial measures contained in this
press release, please see "Use of Non-GAAP Financial Measures"
below.
|
Adoption of Share Repurchase Program
On August 18, 2015, CDEL's board
of directors approved a share repurchase program which authorizes
CDEL to repurchase up to $10 million
of its issued and outstanding American Depositary Shares ("ADSs")
during a one-year period from August 18,
2015 to August 17, 2016.
The repurchases will be made from time to time on the open
market at prevailing market prices, in negotiated transactions off
the market, in block trades, pursuant to a 10b5-1 plan (which if
adopted, will allow CDEL to repurchase its ADSs during periods in
which it may be in possession of material non-public information)
or otherwise. The purchases will be made subject to restrictions
relating to volume, price and timing under applicable law,
including the anti-manipulation provisions of Rule 10b-18 under the
Securities Exchange Act of 1934, as amended. The timing and extent
of any purchases will depend upon market conditions, the trading
price of its ADSs and other factors. CDEL expects to implement this
share repurchase program in a manner consistent with market
conditions and the interest of its shareholders. CDEL's board of
directors will review the share repurchase program periodically,
and may authorize adjustment of its terms and size accordingly. The
program may be suspended or discontinued at any time. The
repurchase program does not obligate CDEL to make additional
repurchases at any specific time or situation.
"The approval of this share repurchase program by our board of
directors reflects our confidence in the company's future and our
desire to create long-term value for our shareholders," said
Zhengdong Zhu, CDEL's Chairman and
Chief Executive Officer. "Our current cash position provides us
with the flexibility to implement this share repurchase program
without impacting our growth strategies and other strategic
opportunities."
Third Quarter Fiscal 2015 Financial Results
Net Revenue. Total net revenue increased by 15.3%
to $28.8 million in the third quarter
of fiscal 2015 from $25.0 million in
the third quarter of fiscal 2014. This increase was primarily due
to higher revenue in online education services. Net revenue from
online education services, books and reference materials, and other
sources contributed 84.6%, 6.2% and 9.2%, respectively, of total
net revenue for the third quarter of fiscal 2015.
Online education services. Net revenue from online
education services increased 18.2% to $24.4 million in the
third quarter of fiscal 2015 from $20.6
million in the prior year period, mainly due to revenue
growth from health-care and accounting courses, as well as from the
Open Learning Platform. This increase was partially offset by the
decrease in revenue from engineering and construction courses.
Books and reference materials. Net revenue from books and
reference materials increased by 2.8% to $1.8 million in the third quarter of fiscal 2015
from $1.7 million in the third
quarter of fiscal 2014.
Others. Net revenue from other sources increased slightly
by 0.3% to $2.6 million in the third
quarter of fiscal 2015 from $2.6
million in the third quarter of fiscal 2014, mainly due to
revenue growth from the "Tax School" program. This increase was
partially offset by the decrease in revenue from courseware
production services and business start-up training courses.
Cost of Sales. Cost of sales increased by 8.8% to
$11.4 million in the third quarter of
fiscal 2015 from $10.5 million in the
third quarter of fiscal 2014. Non-GAAP1 cost of sales
increased by 8.5% to $11.4 million in
the third quarter of fiscal 2015 from $10.5
million in the third quarter of fiscal 2014. The increase in
cost of sales was mainly due to increased salaries and related
expenses, and rental and related expenses. This increase was
partially offset by the decrease in the cost of books and reference
materials.
Gross Profit. Gross profit increased by
19.9% to $17.4 million in the third
quarter of fiscal 2015 from $14.5
million in the prior year period. Non-GAAP1 gross
profit increased by 20.2% to $17.4
million in the third quarter of fiscal 2015 from
$14.5 million in the prior year
period. Gross margin was 60.5% in the third quarter of fiscal 2015,
as compared to 58.1% in the third quarter of fiscal 2014.
Non-GAAP1 gross margin was 60.6% in the third quarter of
fiscal 2015, as compared to 58.1% in the third quarter of fiscal
2014.
Operating Expenses. Total operating expenses
increased by 32.6% to $11.5 million
in the third quarter of fiscal 2015 from $8.7 million in the prior year period.
Non-GAAP1 total operating expenses increased by 29.5% to
$11.1 million in the third quarter of
fiscal 2015 from $8.5 million in the
prior year period. The increase in operating expenses was primarily
due to higher salaries and related expenses, marketing and
promotional expenses, professional fees, share-based compensation
expenses, and other selling and administrative expenses. This
increase was partially offset by the decrease in commission to
online agents and the reduction in allowance for doubtful
accounts.
Selling expenses. Selling expenses increased by 31.5% to
$8.3 million in the third quarter of
fiscal 2015 from $6.3 million in the
prior year period. Non-GAAP1 selling expenses increased
by 31.2% to $8.2 million in the third
quarter of fiscal 2015 from $6.3
million in the prior year period. The increase in selling
expenses was primarily driven by higher salaries and related
expenses, an expansion of our marketing and promotional activities,
and an increase in other selling expenses. This increase was
partially offset by the decrease in commission to online
agents.
General and administrative expenses. General and
administrative expenses increased by 35.5% to $3.3 million in the third quarter of fiscal 2015
from $2.4 million in the prior year
period. Non-GAAP1 general and administrative expenses
increased by 24.9% to $2.8 million in
the third quarter of fiscal 2015 from $2.3
million in the prior year period. The increase in general
and administrative expenses was primarily due to higher salaries
and related expenses, professional fees, share-based compensation
expenses and other administrative expenses. This increase was
partially offset by the reduction in allowance for doubtful
accounts.
Income Tax Expense. Income tax expense remained
flat at $1.3 million in the third
quarter of fiscal 2015 compared to the prior year period.
Net Income. As a result of the foregoing, net
income decreased slightly by 0.3% to $5.2
million in the third quarter of fiscal 2015 from
$5.3 million in the prior year
period. Non-GAAP1 net income increased by 6.0% to
$5.7 million in the third quarter of
fiscal 2015 from $5.4 million in the
prior year period.
Operating Cash Flow. Net operating cash
inflow was $13.5 million in the third
quarter of fiscal 2015, as compared to net operating cash outflow
of $8.0 million in the prior year
period. Net operating cash outflow in the third quarter of fiscal
2014 included the payback of $25.0
million of net proceeds held temporarily on behalf of
certain selling shareholders in the Company's follow-on public
offering completed in March 2014. The
operating cash inflow was mainly attributable to net income before
non-cash items generated in the third quarter of fiscal 2015. The
decrease in accounts receivable and the increase in accrued
expenses and other liabilities, income tax payable, deferred
revenue, and refundable fees also contributed to the cash inflow.
This operating cash inflow was partially offset by the increase in
deferred cost.
Cash and Cash Equivalents, Term Deposits and Restricted
Cash. Cash and cash equivalents, term deposits and
restricted cash as of June 30, 2015
increased by 9.4% to $142.6 million,
as compared to $130.4 million as of
March 31, 2015, mainly due to cash
inflow generated from operating activities in the third quarter of
fiscal 2015.
Outlook
For the fourth quarter of fiscal 2015, the Company expects to
generate total net revenue in the range of $35.3 million to $37.0 million, representing
year-over-year growth of approximately 0% to 5%.
For the 2015 fiscal year, the Company expects to generate total
net revenue in the range of $107.8 million
to $109.6 million, representing year-over-year growth of
approximately 11% to 13%. The Company's prior full year fiscal 2015
total net revenue guidance range was $116.6
million to $121.5 million.
The above guidance reflects the Company's current view, which is
subject to change.
Conference Call
The Company will host a conference call at 8:00 a.m. Eastern Time on August 19, 2015 to discuss its third quarter
fiscal 2015 financial results and recent developments. The
conference call may be accessed by calling 1-855-298-3404 (US),
1-631-5142-526 (International), 400-120-0539 (China), 800-905-927 (Hong Kong), or 44-(0)20-3078-7622 (UK). The
passcode is 9309101.
A telephone replay will be available shortly after the call
until August 25, 2015 at
1-866-846-0868 (US), 61-2-9641-7900 (International), 400-184-2240
(China), 800-966-697 (Hong Kong), or 0800-169-7301 (UK). The
conference ID is 9309101.
A live and archived webcast of the conference call will be
available at http://ir.cdeledu.com.
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider
of online education in China
focusing on professional education. The courses offered by the
Company through its websites are designed to help professionals
seeking to obtain and maintain professional licenses and to enhance
their job skills through our professional development courses in
China in the areas of accounting,
health-care, engineering & construction, and other industries.
The Company also offers other professional education courses for
the national judicial examination, online test preparation courses
for self-taught learners pursuing higher education diplomas or
degrees, test preparation courses for university students intending
to take the nationwide graduate school entrance exam, and online
language courses. We also offer third-party developed online
courses through our Online Open Learning Platform, a proprietary
education platform that allows people to share their educational
content or deliver live courses online. For further information,
please visit http://ir.cdeledu.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "may," "should," "potential," "continue," "expect,"
"predict," "anticipate," "future," "intend," "plan," "believe,"
"is/are likely to," "estimate" and similar statements. Among other
things, the outlook for the fourth quarter of fiscal year 2015 and
the full fiscal year 2015 and quotations from management in this
announcement, as well as the Company's strategic and operational
plans (in particular, CDEL's College Cooperation Program initiative
and its intended benefits and CDEL's share repurchase program)
contain forward-looking statements. The Company may also make
written or oral forward-looking statements in its periodic and
annual reports to the SEC, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: our goals and growth strategies; our
future prospects and market acceptance of our courses and other
products and services; our future business development and results
of operations; projected revenues, profits, earnings and other
estimated financial information; projected enrollment numbers; our
plans to expand and enhance our courses and other products and
services; competition in the education and test preparation
markets; and changes of Chinese laws, regulations and policies,
including those applicable to the Internet and Internet content
providers, the education and telecommunications industries, mergers
and acquisitions, taxation and foreign exchange.
Further information regarding these and other risks is included
in the Company's annual report on Form 20-F and other documents
filed or furnished with the SEC. All information provided in this
press release is as of the date of this press release. The Company
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
Statement Regarding Unaudited Financial Information
The unaudited financial information set forth in this press
release is preliminary and subject to adjustments. Adjustments to
the financial statements may be identified when audit work is
performed for the year-end audit, which could result in significant
differences from this preliminary unaudited financial
information.
Use of Non-GAAP Financial Measures
To supplement the Company's consolidated financial results
presented in accordance with U.S. generally accepted accounting
principles, or GAAP, the Company uses the following measures
defined as non-GAAP financial measures: non-GAAP net income,
operating income, gross profit, cost of sales, selling expenses,
general and administrative expenses, net income margin, operating
margin, gross profit margin and basic and diluted earnings per ADS
and per share. The presentation of these non-GAAP financial
measures is not intended to be considered in isolation or as a
substitute for the financial information prepared and presented in
accordance with GAAP. For more information on these non-GAAP
financial measures, please see the table captioned "Reconciliations
of non-GAAP measures to comparable GAAP measures" set forth at the
end of this release.
The Company believes that these non-GAAP financial measures
provide meaningful supplemental information regarding its
performance and liquidity by excluding share-based compensation
expenses. However, non-GAAP financial measures may not be
indicative of the Company's operating performance from a cash
perspective. The Company believes that both management and
investors benefit from these non-GAAP financial measures in
assessing its performance and when planning and forecasting future
periods. These non-GAAP financial measures also facilitate
management's internal comparisons to the Company's historical
performance and liquidity. The Company computes its non-GAAP
financial measures using the same consistent method from quarter to
quarter. The Company believes these non-GAAP financial measures are
useful to investors in allowing for greater transparency with
respect to supplemental information used by management in its
financial and operational decision making. A limitation of
excluding share-based compensation expenses from the
above-mentioned line items and presenting these non-GAAP measures
is that such charges may continue to be for the foreseeable future
a significant recurring expense in our business. Management
compensates for this limitation by providing specific information
regarding the GAAP amounts excluded from each non-GAAP measure. The
accompanying table at the end of this release provides more detail
on the reconciliations between GAAP financial measures that are
most directly comparable to non-GAAP financial measures.
Contacts:
|
|
|
|
China Distance
Education Holdings Limited
Investor Relations
Department
Tel:
+86-10-8231-9999 ext1805
Email:
IR@cdeledu.com
|
The Piacente Group |
Investor Relations
Brandi
Piacente
Tel: +1
212-481-2050
Email:
dl@tpg-ir.com
|
(Financial Tables)
China Distance
Education Holdings Limited
|
Consolidated
Balance Sheets
|
(in thousands of
US Dollars, except number of shares and per share
data)
|
|
|
|
|
|
|
|
|
September 30,
2014
|
|
June
30,2015
|
|
|
(Derived from
Audited)
|
|
(Unaudited)
|
|
Assets:
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
118,075
|
|
84,548
|
|
|
Term
deposits
|
5,702
|
|
25,161
|
|
|
Restricted
cash
|
16,637
|
|
32,935
|
|
|
Accounts receivable,
net of allowance for doubtful accounts of US$105 and
US$1,250 as of June 30, 2015 and September 30, 2014,
respectively
|
1,637
|
|
2,362
|
|
|
Inventories
|
449
|
|
1,045
|
|
|
Prepayment and other
current assets
|
3,749
|
|
4,840
|
|
|
Amount due from a
related party
|
-
|
|
53
|
|
|
Deferred tax assets,
current portion
|
2,116
|
|
1,801
|
|
|
Deferred
cost
|
1,248
|
|
765
|
|
|
Total
current assets
|
149,613
|
|
153,510
|
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
Property, plant and
equipment, net
|
10,721
|
|
12,051
|
|
|
Goodwill
|
7,689
|
|
7,613
|
|
|
Other intangible
assets, net
|
1,384
|
|
1,175
|
|
|
Deposit for purchase
of non-current assets
|
94
|
|
515
|
|
|
Other non-current
assets
|
2,128
|
|
2,527
|
|
|
Total
non-current assets
|
22,016
|
|
23,881
|
|
|
|
|
|
|
|
|
Total
assets
|
171,629
|
|
177,391
|
|
|
|
|
|
|
|
Liabilities and
equity:
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Bank
borrowing
|
16,583
|
|
16,728
|
|
|
Accrued expenses and
other liabilities (including accrued expenses and other
liabilities of the consolidated VIE without recourse to China
Distance Education
Holdings Limited of US$22,569 and US$21,275 as of June 30, 2015
and
September 30, 2014, respectively)
|
22,695
|
|
25,800
|
|
|
Income tax payable
(including income tax payable of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$2,186
and
US$3,504 as of June 30, 2015 and September 30, 2014,
respectively)
|
4,209
|
|
2,932
|
|
|
Deferred revenue
(including deferred revenue of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$42,500
and
US$23,319 as of June 30, 2015 and September 30, 2014,
respectively)
|
23,423
|
|
42,523
|
|
|
Refundable fees
(including refundable fees of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$4,853
and
US$5,199 as of June 30, 2015 and September 30, 2014,
respectively)
|
5,199
|
|
4,853
|
|
|
Dividend
payable
|
-
|
|
820
|
|
|
Total
current liabilities
|
72,109
|
|
93,656
|
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
Deferred tax
liabilities, non-current portion
|
1,110
|
|
1,505
|
|
|
Total
non-current liabilities
|
1,110
|
|
1,505
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
73,219
|
|
95,161
|
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
Ordinary shares (par
value of US$0.0001 per share at June 30, 2015 and September
30, 2014, respectively; Authorized –500,000,000 shares at June 30,
2015 and
September 30, 2014, respectively; Issued and outstanding
–143,423,745 and
142,752,873 shares at June 30, 2015 and September 30, 2014,
respectively)
|
14
|
|
14
|
|
|
Additional paid-in
capital
|
77,270
|
|
58,163
|
|
|
Accumulated other
comprehensive income
|
6,220
|
|
5,107
|
|
|
Retained
Earnings
|
14,906
|
|
18,946
|
|
|
Total
equity
|
98,410
|
|
82,230
|
|
|
Total
liabilities and equity
|
171,629
|
|
177,391
|
|
|
|
|
|
|
|
China Distance
Education Holdings Limited
|
Unaudited
Consolidated Statements Of Operations
|
(in
thousands of US dollars, except number of shares, per share and per
ADS data)
|
|
|
Three Months
Ended June 30,
|
|
2014
|
|
2015
|
|
|
|
|
Sales, net of
business tax, value-added tax and related
surcharges:
|
|
|
|
|
Online education
services
|
20,595
|
|
24,353
|
|
Books and reference
materials
|
1,747
|
|
1,796
|
|
Others
|
2,635
|
|
2,643
|
|
Total
net revenues
|
24,977
|
|
28,792
|
|
|
|
|
|
Cost of
sales
|
|
|
|
|
Cost of
services
|
(9,385)
|
|
(10,415)
|
|
Cost of tangible
goods sold
|
(1,081)
|
|
(972)
|
|
Total
cost of sales
|
(10,466)
|
|
(11,387)
|
|
|
|
|
|
Gross
profit
|
14,511
|
|
17,405
|
|
|
|
|
Operating
expenses
|
|
|
|
|
Selling
expenses
|
(6,276)
|
|
(8,253)
|
|
General and
administrative expenses
|
(2,410)
|
|
(3,265)
|
|
Total
operating expenses
|
(8,686)
|
|
(11,518)
|
Other operating
income
|
166
|
|
13
|
|
|
|
|
|
Operating
income
|
5,991
|
|
5,900
|
|
|
|
|
Interest
income
|
728
|
|
810
|
Interest
expense
|
(97)
|
|
(121)
|
Exchange
loss
|
(40)
|
|
-
|
|
|
|
|
|
Income
before income taxes
|
6,582
|
|
6,589
|
Less: Income tax
expense
|
(1,316)
|
|
(1,340)
|
|
|
|
|
Net
income attributable to China Distance Education
Holdings Limited
|
5,266
|
|
5,249
|
Net income
per share:
|
|
|
|
Net income
attributable to China Distance Education Holdings
Limited
shareholders
|
|
|
|
|
Basic
|
0.037
|
|
0.037
|
|
Diluted
|
0.037
|
|
0.037
|
Net income
per ADS:
|
|
|
|
Net income
attributable to China Distance Education Holdings
Limited
shareholders
|
|
|
|
|
Basic
|
0.148
|
|
0.146
|
|
Diluted
|
0.147
|
|
0.146
|
|
|
|
|
Weighted average
shares used in calculating net income per
share:
|
|
|
|
|
Basic
|
142,615,012
|
|
142,755,463
|
|
Diluted
|
143,260,655
|
|
143,807,344
|
China Distance
Education Holdings Limited
|
Reconciliations of
non-GAAP measures to comparable GAAP measures
|
(In thousands of
US Dollars, except number of shares, per share and per ADS
data)
|
|
|
|
|
|
Three Months
Ended June 30,
|
|
|
2014
|
|
2015
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
Cost of
sales
|
|
10,466
|
|
11,387
|
Share-based
compensation expense in cost of sales
|
|
-
|
|
36
|
Non-GAAP cost of
sales
|
|
10,466
|
|
11,351
|
|
|
|
|
|
Selling
expenses
|
|
6,276
|
|
8,253
|
Share-based
compensation expense in selling expenses
|
|
-
|
|
18
|
Non-GAAP selling
expenses
|
|
6,276
|
|
8,235
|
|
|
|
|
|
General and
administrative expenses
|
|
2,410
|
|
3,265
|
Share-based
compensation expense in general and administrative
expenses
|
|
143
|
|
433
|
Non-GAAP general and
administrative expenses
|
|
2,267
|
|
2,832
|
|
|
|
|
|
Gross
profit
|
|
14,511
|
|
17,405
|
Share-based
compensation expenses
|
|
-
|
|
36
|
Non-GAAP gross
profit
|
|
14,511
|
|
17,441
|
|
|
|
|
|
Gross profit
margin
|
|
58.1%
|
|
60.5%
|
Non-GAAP gross profit
margin
|
|
58.1%
|
|
60.6%
|
|
|
|
|
|
Operating
income
|
|
5,991
|
|
5,900
|
Share-based
compensation expenses
|
|
143
|
|
487
|
Non-GAAP operating
income
|
|
6,134
|
|
6,387
|
|
|
|
|
|
Operating
margin
|
|
24.0%
|
|
20.5%
|
Non-GAAP operating
margin
|
|
24.6%
|
|
22.2%
|
|
|
|
|
|
Net income
|
|
5,266
|
|
5,249
|
Share-based
compensation expense
|
|
143
|
|
487
|
Non-GAAP net
income
|
|
5,409
|
|
5,736
|
|
|
|
|
|
Net income
margin
|
|
21.1%
|
|
18.2%
|
Non-GAAP net income
margin
|
|
21.7%
|
|
19.9%
|
|
|
|
|
|
Net income per
share—basic
|
|
0.037
|
|
0.037
|
Net income per
share—diluted
|
|
0.037
|
|
0.037
|
Non-GAAP net income
per share—basic
|
|
0.038
|
|
0.040
|
Non-GAAP net income
per share—diluted
|
|
0.038
|
|
0.040
|
|
|
|
|
|
Net income per ADS
attributable to China Distance Education Holdings Limited
shareholders—basic (note
1)
|
|
0.148
|
|
0.146
|
Net income per
ADS attributable to China Distance Education Holdings Limited
shareholders—diluted (note 1)
|
|
0.147
|
|
0.146
|
Non-GAAP net income
per ADS attributable to China Distance Education Holdings
Limited shareholders—basic (note
1)
|
|
0.152
|
|
0.161
|
Non-GAAP net income
per ADS attributable to China Distance Education Holdings
Limited shareholders—diluted (note
1)
|
|
0.151
|
|
0.160
|
|
|
|
|
|
Weighted average
shares used in calculating basic net income per share
|
|
142,615,012
|
|
142,755,463
|
Weighted average
shares used in calculating diluted net income per share
|
|
143,260,655
|
|
143,807,344
|
Weighted average
shares used in calculating basic non-GAAP net income per
share
|
|
142,615,012
|
|
142,755,463
|
Weighted average
shares used in calculating diluted non-GAAP net income per
share
|
|
143,260,655
|
|
143,807,344
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/china-distance-education-holdings-limited-reports-financial-results-for-the-third-quarter-of-fiscal-2015-and-adoption-of-up-to-10-million-share-repurchase-program-300129907.html
SOURCE China Distance Education Holdings Limited