BEIJING, May 24, 2016 /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 second
quarter fiscal year 2016 ended March
31, 2016.
Second Quarter Fiscal 2016 Financial and Operational
Highlights
- 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.
- Net revenue increased by 8.1% to $24.1
million from $22.3 million in
the prior year period, in-line with the Company's guidance range of
$24.1 million to $25.2 million.
- Gross profit increased by 22.9% to $13.7
million from $11.2 million in
the prior year period.
- Non-GAAP1 gross profit increased by 22.7% to
$13.8 million from $11.2 million in the prior year period.
- Gross margin was 56.9%, compared with 50.0% in the prior year
period. Non-GAAP1 gross
margin was 57.0%, compared with 50.3% in the prior year
period.
- Operating income increased by 431.7% to $4.6 million from $0.9
million in the prior year period.
- Non-GAAP1 operating income increased by 265.3% to
$5.1 million from $1.4 million in the prior year period.
- Net income increased by 107.7% to $2.5
million from $1.2 million in
the prior year period.
- Non-GAAP1 net income increased by 73.1% to
$3.0 million from $1.8 million in the prior year period.
- Basic and diluted net income per American Depositary Share
("ADS") were $0.073, compared with
basic and diluted net income per ADS of $0.034 for the second quarter of fiscal 2015.
Each ADS represents four ordinary shares.
- Basic and diluted non-GAAP1 net income per ADS were
$0.088 and $0.087, respectively, compared with basic and
diluted non-GAAP1 net income per ADS of $0.049 for the second quarter of fiscal
2015.
- Operating cash inflow decreased by 7.7% to $12.0 million from $13.0
million in the second quarter of fiscal 2015.
[1] For more
information about the non-GAAP financial measures contained in this
press release, please see "Use of Non-GAAP Financial Measures"
below.
|
Mr. Zhengdong Zhu, Chairman and
CEO of CDEL, said, "The second quarter revenue growth of 8.1%
year-over-year was at the low end of our guidance range. Our
revenue growth was primarily led by the healthcare and accounting
verticals, and business start-up training services which delivered
year-over-year revenue growth of 17.9%, 12.2% and 47.6%,
respectively, partially offset by continued weak demand in our
engineering and construction vertical, and a decrease in revenue
from books and reference materials.
"However, our cash receipts from online course registration in
the second quarter decreased by 1.8% year-over-year, primarily due
to lower-than-anticipated cash receipts in our healthcare vertical,
which decreased by 14.9% year-over-year. We believe the decrease in
healthcare cash receipts was attributable to an earlier start to
the enrollment season for our National Practicing Medical Doctor
Qualification Examination test preparation courses, which
kicked-off in the first quarter of fiscal 2016, and a late start to
the enrollment season for our National Pharmacist Qualification
Examination test preparation courses compared with the year-ago
period. This decrease was partially offset by the growth in cash
receipts from online course registration in our accounting
vertical, which were up 10.4% year-over-year in the second
quarter.
"In March 2016, we entered into a
definitive agreement to acquire an 80% equity interest in Xiamen
NetinNet Software Co., Ltd. ("Xiamen NetinNet") for a total
consideration of RMB212 million
($32.6 million). Xiamen NetinNet is a
leading learning simulation software provider specializing in
practical accounting-related learning solutions for colleges and
universities in China. We are
delighted to announce that the acquisition of Xiamen NetinNet
closed in April 2016. The acquisition
of Xiamen NetinNet complements our suite of learning solutions for
our growing College Cooperation Program, enabling us to offer
comprehensive simulation-based learning opportunities to college
students to master critical accounting skills. In addition, the
acquisition provides both Xiamen NetinNet and us with unique
cross-selling opportunities to bolster our business relationships
with college partners. As always, we remain focused on providing
the highest quality courseware and services to meet our students'
needs as they progress in their careers." concluded Mr. Zhu.
Mr. Mark Marostica, Co-Chief
Financial Officer of CDEL, added, "Our cost control initiatives
during the second quarter contributed to broad-based margin
improvement, as we proactively managed expenses while maintaining
operating efficiency. As such, our non-GAAP gross margin increased
670 basis points year-over-year to 57.0%, and our non-GAAP
operating margin reached 21.3%, a significant improvement compared
with 6.3% in the year-ago period. Our efforts to balance
profitability and revenue growth in the second quarter resulted in
net margin improvement and non-GAAP diluted EPS growth of 77.6%
year-over-year in the second quarter. We also demonstrated prudent
use of capital in the quarter to develop our business with the
acquisition of Xiamen NetinNet. As we previously disclosed, we
anticipate the acquisition to be dilutive to our fiscal 2016
financial results, due to the seasonality of Xiamen NetinNet's
business and amortization of intangibles attributable to the
acquisition, yet slightly accretive to our fiscal 2017 financial
results, based on our preliminary assessment.
"We expect our third fiscal quarter revenue to decline primarily
due to a late start to the enrollment season for our National
Pharmacist test preparation courses, and the corresponding decrease
in healthcare cash receipts in the second fiscal quarter and in
April 2016; together with
softer-than-expected accounting cash receipts during the second
fiscal quarter and April 2016. We
will continue to focus on implementing prudent cost controls to
cushion the impact of the anticipated third quarter fiscal 2016
revenue decline on our overall profitability."
Second Quarter Fiscal 2016 Financial Results
Net Revenue. Total net revenue increased by 8.1%
to $24.1 million in the second
quarter of fiscal 2016, from $22.3
million in the second quarter of fiscal 2015. Net revenue
from online education services, books and reference materials, and
other sources contributed 78.7%, 6.5% and 14.8%, respectively, of
total net revenues for the second quarter of fiscal 2016.
Online education services. Net revenue from online
education services was $19.0 million
in the second quarter of fiscal 2016, a 12.2% increase from
$16.9 million in the second quarter
of fiscal 2015, mainly due to revenue growth in our accounting and
healthcare verticals.
Books and reference materials. Net revenue from books and
reference materials decreased by 26.1% to $1.6 million in the second quarter of fiscal 2016
from $2.1 million in the second
quarter of fiscal 2015.
Others. Net revenue from other sources increased by 9.1%
to $3.6 million in the second quarter
of fiscal 2016 from $3.3 million in
the second quarter of fiscal 2015, mainly due to higher revenue
from business start-up training courses.
Cost of Sales. Cost of sales decreased by 6.7% to
$10.4 million in the second quarter
of fiscal 2016, from $11.2 million in
the second quarter of fiscal 2015. Non-GAAP1 cost of
sales decreased by 6.6% to $10.4
million in the second quarter of fiscal 2016 from
$11.1 million in the second quarter
of fiscal 2015. The decrease was mainly due to decreased lecture
fees, cost of books and reference materials, and other
miscellaneous expenses. This decrease was partially offset by
increased salaries and related expenses.
Gross Profit. Gross profit increased by
22.9% to $13.7 million in the second
quarter of fiscal 2016 from $11.2
million in the prior year period. Non-GAAP1 gross
profit increased by 22.7% to $13.8
million in the second quarter of fiscal 2016 from
$11.2 million in the prior year
period. Gross margin was 56.9% in the second quarter of fiscal
2016, compared with 50.0% in the second quarter of fiscal 2015.
Non-GAAP1 gross margin was 57.0% in the second quarter
of fiscal 2016, compared with 50.3% in the second quarter of fiscal
2015.
Operating Expenses.Total operating expenses
decreased by 11.9% to $9.1 million in
the second quarter of fiscal 2016, from $10.3 million in the prior year period.
Non-GAAP1 total operating expenses decreased by 12.2% to
$8.7 million in the second quarter of
fiscal 2016, from $9.9 million in the
prior year period.
Selling expenses. Selling expenses decreased by 27.7% to
$5.2 million in the second quarter of
fiscal 2016 from $7.3 million in the
prior year period. Non-GAAP1 selling expenses decreased
by 27.8% to $5.2 million in the
second quarter of fiscal 2016 from $7.2
million in the prior year period. The decrease was primarily
driven by decreased commissions for the Company's online
distributors, and less spending on marketing and promotional
activities. This decrease was partially offset by increased
salaries and related expenses.
General and administrative expenses. General and
administrative expenses increased by 25.3% to $3.9 million in the second quarter of fiscal 2016
from $3.1 million in the prior year
period. Non-GAAP1 general and administrative expenses
increased by 30.6% to $3.4 million in
the second quarter of fiscal 2016 from $2.6
million in the prior year period. The increase was due to
increased professional fees, and other administrative expenses, and
a decrease in the reversal of doubtful debts, due to collection,
compared to the prior-year period.
Income Tax Expense.Income tax expense increased by
126.3% to $0.7 million in the second
quarter of fiscal 2016 from $0.3
million in the prior year period, primarily due to an
increase in taxable income.
Net Income. As a result of the foregoing, net
income increased by 107.7% to $2.5
million in the second quarter of fiscal 2016 from
$1.2 million in the prior year
period. Non-GAAP1 net income increased by 73.1% to
$3.0 million in the second quarter of
fiscal 2016 from $1.8 million in the
prior year period.
Operating Cash Flow. Net operating
cash inflow decreased by 7.7% to $12.0
million in the second quarter of fiscal 2016 from
$13.0 million in the prior year
period. The operating cash inflow was mainly attributable to net
income before non-cash items generated in the second quarter of
fiscal 2016. The increase in accrued expenses and other
liabilities, income tax payable and deferred revenue also
contributed to the operating cash inflow. This operating cash
inflow was partially offset by the increase in accounts receivable,
inventories, prepayment and other current assets, and the decrease
in refundable fees.
Cash and Cash Equivalents, Term Deposits and Restricted
Cash. Cash and cash equivalents, term deposits and
restricted cash as of March 31, 2016
decreased by 19.8% to $109.0 million
from $135.9 million as of
December 31, 2015, mainly due to the
distribution of dividends of $31.1
million, the repurchase of our ADSs on the open market of
$8.2 million, the payment of
acquisition deposit for Xiamen NetinNet Software Co., Ltd. of
$4.9 million. This decrease was
partially offset by cash flow generated from operating activities
in the second quarter of $12.0
million and a capital contribution of $4.9 million raised by Zhengbao Yucai from
issuing shares to selected employees.
Outlook
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.
The above guidance reflects the Company's current and
preliminary view, which is subject to change.
Conference Call
The Company will host a conference call at 8:00 a.m. Eastern Time on May 25, 2016 to discuss its second quarter fiscal
year 2016 financial results and recent developments. The conference
call may be accessed by dialing:
United States Toll
Free:
|
+1-866-5194-004
|
International:
|
+65-6713-5090
|
China:
|
400-620-8038
|
Hong Kong:
|
+852-3018-6771
|
United
Kingdom:
|
+44-203-6214-779
|
|
|
Passcode:
|
CDEL or DL
|
A telephone replay will be available two hours after the call
until June 1, 2016 by dialing:
United States Toll
Free:
|
+1-855-4525-696
|
International:
|
+61-2-8199-0299
|
China:
|
400-632-2162
|
Hong Kong:
|
800-963-117
|
United
Kingdom:
|
0808-234-0072
|
Replay
passcode:
|
10712104
|
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,
healthcare, 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. The Company also offers third-party developed
online courses through its 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 third quarter of fiscal year 2016 and
fiscal year 2016 and quotations from management in this
announcement, as well as the Company's strategic and operational
plans (in particular, the anticipated benefits of the Company's
acquisition of Xiamen NetinNet and the implementation of expense
control initiatives and its intended effect on the Company's net
margin improvement) 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 the Company's courses and
other products and services; future business development and
results of operations; projected revenues, profits, earnings and
other estimated financial information; projected enrollment
numbers; plans to expand and enhance courses and other products and
services; the anticipated benefits of listing of Zhengbao Yucai on
China's New Third Board;
competition in the education and test preparation markets; and
Chinese laws, regulations and policies, including those applicable
to the Internet, 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 on Following Pages)
China Distance
Education Holdings Limited
|
Consolidated
Balance Sheets
|
(in thousands of
US Dollars, except number of shares and per share
data)
|
|
|
|
|
|
|
|
September 30,
2015
|
|
March
31,2016
|
|
(Derived from
Audited)
|
|
(Unaudited)
|
Assets:
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
117,899
|
|
92,883
|
|
Term
deposits
|
4,720
|
|
-
|
|
Restricted
cash
|
16,312
|
|
16,079
|
|
Accounts receivable,
net of allowance for doubtful accounts of US$155 and US$158
as of March 31, 2016 and September 30, 2015,
respectively
|
2,800
|
|
2,725
|
|
Inventories
|
871
|
|
2,070
|
|
Prepayment and other
current assets
|
4,853
|
|
6,904
|
|
Amount due from a
related party
|
103
|
|
-
|
|
Deferred tax assets,
current portion
|
1,508
|
|
1,578
|
|
Deferred
cost
|
1,163
|
|
975
|
|
Total
current assets
|
150,229
|
|
123,214
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
Property, plant and
equipment, net
|
12,916
|
|
12,517
|
|
Goodwill
|
7,429
|
|
7,324
|
|
Long-term
investment
|
-
|
|
1,939
|
|
Other intangible
assets, net
|
1,078
|
|
919
|
|
Deposit for purchase
of non-current assets
|
93
|
|
314
|
|
Other non-current
assets
|
2,375
|
|
7,276
|
|
Total
non-current assets
|
23,891
|
|
30,289
|
|
|
|
|
|
|
Total
assets
|
174,120
|
|
153,503
|
|
|
|
|
|
Liabilities and
equity:
|
|
|
|
Current
liabilities:
|
|
|
|
|
Bank
borrowing
|
16,467
|
|
16,536
|
|
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$25,547 and US$24,129 as of March 31, 2016
and
September 30, 2015, respectively)
|
25,993
|
|
27,669
|
|
Income tax payable
(including income tax payable of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$3,162
and US$3,474
as of March 31, 2016 and September 30, 2015,
respectively)
|
4,453
|
|
3,747
|
|
Deferred revenue
(including deferred revenue of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$49,818
and
US$29,540 as of March 31, 2016 and September 30, 2015,
respectively)
|
29,563
|
|
49,913
|
|
Refundable fees
(including refundable fees of the consolidated VIE without
recourse
to China Distance Education Holdings Limited of US$1,050 and
US$5,245 as of
March 31, 2016 and September 30, 2015, respectively)
|
5,245
|
|
1,050
|
|
Total
current liabilities
|
81,721
|
|
98,915
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
Deferred tax
liabilities, non-current portion
|
1,590
|
|
1,579
|
|
Total non-current
liabilities
|
1,590
|
|
1,579
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
83,311
|
|
100,494
|
|
|
|
|
|
Equity:
|
|
|
|
|
Ordinary shares (par
value of US$0.0001 per share at March 31, 2016 and September
30, 2015, respectively; Authorized –500,000,000 shares at March 31,
2016 and
September 30, 2015, respectively; Issued and outstanding -
137,824,809 and
142,406,933 shares at March 31, 2016 and September 30, 2015,
respectively)
|
14
|
|
14
|
|
Additional paid-in
capital
|
55,598
|
|
17,829
|
|
Accumulated other
comprehensive income
|
2,735
|
|
1,244
|
|
Retained
Earnings
|
32,462
|
|
28,776
|
|
Total China
Distance Education Holdings Limited shareholder's
equity
|
90,809
|
|
47,863
|
|
Noncontrolling
interest
|
-
|
|
5,146
|
|
Total
equity
|
90,809
|
|
53,009
|
|
Total
liabilities and equity
|
174,120
|
|
153,503
|
|
|
|
|
|
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
March 31,
|
|
2015
|
|
2016
|
|
|
|
|
Sales, net of
business tax, value-added tax and related
surcharges:
|
|
|
|
Online education services
|
16,930
|
|
19,003
|
Books and reference materials
|
2,140
|
|
1,581
|
Others
|
3,266
|
|
3,563
|
Total net revenues
|
22,336
|
|
24,147
|
|
|
|
|
Cost of
sales
|
|
|
|
Cost
of services
|
(9,837)
|
|
(9,467)
|
Cost
of tangible goods sold
|
(1,321)
|
|
(946)
|
Total cost of sales
|
(11,158)
|
|
(10,413)
|
|
|
|
|
Gross
profit
|
11,178
|
|
13,734
|
|
|
|
|
Operating
expenses
|
|
|
|
Selling expenses
|
(7,259)
|
|
(5,246)
|
General and administrative expenses
|
(3,088)
|
|
(3,870)
|
Total operating expenses
|
(10,347)
|
|
(9,116)
|
Other operating
income
|
40
|
|
13
|
|
|
|
|
Operating
income
|
871
|
|
4,631
|
|
|
|
|
Interest
income
|
780
|
|
375
|
Interest
expense
|
(97)
|
|
(155)
|
Exchange
loss
|
(17)
|
|
(1,278)
|
|
|
|
|
Income before
income taxes
|
1,537
|
|
3,573
|
Less: Income tax
expense
|
(312)
|
|
(706)
|
|
|
|
|
Net
income
|
1,225
|
|
2,867
|
Net income
attributable to noncontrolling interest
|
-
|
|
(323)
|
Net income
attributable to China Distance Education Holdings
Limited
|
1,225
|
|
2,544
|
Net income per
share:
|
|
|
|
Net income
attributable to China Distance Education Holdings Limited
shareholders
|
|
|
|
Basic
|
0.009
|
|
0.018
|
Diluted
|
0.009
|
|
0.018
|
Net income per
ADS:
|
|
|
|
Net income
attributable to China Distance Education Holdings Limited
shareholders
|
|
|
|
Basic
|
0.034
|
|
0.073
|
Diluted
|
0.034
|
|
0.073
|
|
|
|
|
Weighted average
shares used in calculating net income per share:
|
|
|
|
Basic
|
142,753,373
|
|
138,762,726
|
Diluted
|
143,785,371
|
|
139,669,135
|
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 March 31,
|
|
|
2015
|
|
2016
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
Cost of
sales
|
|
11,158
|
|
10,413
|
Share-based
compensation expense in cost of sales
|
|
48
|
|
40
|
Non-GAAP cost of
sales
|
|
11,110
|
|
10,373
|
|
|
|
|
|
Selling
expenses
|
|
7,259
|
|
5,246
|
Share-based
compensation expense in selling expenses
|
|
25
|
|
21
|
Non-GAAP selling
expenses
|
|
7,234
|
|
5,225
|
|
|
|
|
|
General and
administrative expenses
|
|
3,088
|
|
3,870
|
Share-based
compensation expense in general and administrative
expenses
|
|
461
|
|
440
|
Non-GAAP general and
administrative expenses
|
|
2,627
|
|
3,430
|
|
|
|
|
|
Gross
profit
|
|
11,178
|
|
13,734
|
Share-based
compensation expenses
|
|
48
|
|
40
|
Non-GAAP gross
profit
|
|
11,226
|
|
13,774
|
|
|
|
|
|
Gross profit
margin
|
|
50.0%
|
|
56.9%
|
Non-GAAP gross profit
margin
|
|
50.3%
|
|
57.0%
|
|
|
|
|
|
Operating
income
|
|
871
|
|
4,631
|
Share-based
compensation expenses
|
|
534
|
|
501
|
Non-GAAP operating
income
|
|
1,405
|
|
5,132
|
|
|
|
|
|
Operating
margin
|
|
3.9%
|
|
19.2%
|
Non-GAAP operating
margin
|
|
6.3%
|
|
21.3%
|
|
|
|
|
|
Net income
|
|
1,225
|
|
2,544
|
Share-based
compensation expense
|
|
534
|
|
501
|
Non-GAAP net
income
|
|
1,759
|
|
3,045
|
|
|
|
|
|
Net income
margin
|
|
5.5%
|
|
10.5%
|
Non-GAAP net income
margin
|
|
7.9%
|
|
12.6%
|
|
|
|
|
|
Net income per
share--basic
|
|
0.009
|
|
0.018
|
Net income per
share--diluted
|
|
0.009
|
|
0.018
|
Non-GAAP net income
per share--basic
|
|
0.012
|
|
0.022
|
Non-GAAP net income
per share--diluted
|
|
0.012
|
|
0.022
|
|
|
|
|
|
Net income per ADS
attributable to China Distance Education Holdings Limited
shareholders--basic (note 1)
|
|
0.034
|
|
0.073
|
Net income per
ADS attributable to China Distance Education Holdings Limited
shareholders--diluted (note 1)
|
|
0.034
|
|
0.073
|
Non-GAAP net income
per ADS attributable to China Distance Education Holdings
Limited shareholders--basic (note 1)
|
|
0.049
|
|
0.088
|
Non-GAAP net income
per ADS attributable to China Distance Education Holdings
Limited shareholders--diluted (note 1)
|
|
0.049
|
|
0.087
|
|
|
|
|
|
Weighted average
shares used in calculating basic net income per share
|
|
142,753,373
|
|
138,762,726
|
Weighted average
shares used in calculating diluted net income per share
|
|
143,785,371
|
|
139,669,135
|
Weighted average
shares used in calculating basic non-GAAP net income per
share
|
|
142,753,373
|
|
138,762,726
|
Weighted average
shares used in calculating diluted non-GAAP net income per
share
|
|
143,785,371
|
|
139,669,135
|
Note 1: Each ADS
represents four ordinary shares
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/china-distance-education-holdings-limited-reports-second-quarter-fiscal-year-2016-financial-results-300273838.html
SOURCE China Distance Education Holdings Limited