- Net Revenue Up 31.2% Year-Over-Year to $32.0 Million -
- Net Income Up 108.3% Year-Over-Year to $8.6 Million -
BEIJING, Feb. 21, 2017 /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 first quarter
of fiscal year 2017 ended December 31,
2016.
First Quarter Fiscal 2017 Financial and Operational
Highlights
- Total course enrollments reached 1,293,000, an increase of 8.5%
from the first quarter of fiscal 2016.
- Cash receipts from online course registration were $26.8 million, flat compared with the first
quarter of fiscal 2016. Without the impact of the Renminbi
depreciation against the U.S. Dollar, cash receipts from online
course registration increased by 7.3% year-over-year in the first
quarter of fiscal 2017.
- Net revenue increased by 31.2% to $32.0
million from $24.4 million in
the prior year period, exceeding the Company's guidance range of
$28.0 million to $29.2 million.
Xiamen NetinNet, which was acquired by the Company in May 2016, contributed net revenue from the sale
of learning simulation software of $6.5
million in the first quarter of fiscal 2017.
- Gross profit increased by 50.4% to $19.2
million from $12.8 million in
the prior year period.
- Non-GAAP[1] gross
profit increased by 50.2% to $19.2
million from $12.8 million in
the prior year period.
- Gross margin was 59.9%, compared with 52.3% in the prior year
period. Non-GAAP[1]
gross margin was 60.1%, compared with 52.5% in the prior year
period.
- Operating income increased by 125.6% to $8.0 million from $3.5
million in the prior year period.
- Non-GAAP[1]
operating income increased by 109.4% to $8.5
million from $4.0 million in
the prior year period.
- Net income increased by 108.3% to $8.6
million from $4.1 million in
the prior year period.
- Non-GAAP[1] net
income increased by 96.0% to $9.1
million from $4.6 million in
the prior year period.
- Basic and diluted net income per American Depositary Share
("ADS") were $0.260 and $0.259, respectively, compared with basic and
diluted net income per ADS of $0.116
for the first quarter of fiscal 2016. Each ADS represents four
ordinary shares.
- Basic and diluted non-GAAP[1] net income per ADS were
$0.276 and $0.275, respectively, compared with basic and
diluted non-GAAP[1] net
income per ADS of $0.131 and
$0.130, respectively, for the first
quarter of fiscal 2016.
- Cash flow from operations increased by 33.6% to $16.5 million from $12.3
million in the first quarter of fiscal 2016.
[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, "We are pleased to kick off fiscal 2017 by
achieving strong financial results driven by net revenue growth of
31.2% and net income growth that more than doubled from the same
period of last year. We exceeded our first quarter revenue guidance
range by benefiting primarily from the earlier-than-anticipated
release of exam results from certain healthcare examinations,
resulting in the early recognition of $3.1
million of revenue in the first quarter for the related
healthcare premium courses."
Mr. Zhu added, "Our first fiscal
quarter results underscore the resiliency of our business model, as
we navigate market changes while continuing to provide
best-in-class courseware and services to our students. In fiscal
2017, we will continue to strive for innovation and growth by
further penetrating our core vertical markets and launching new
courses and services in both existing and new areas, such as the
College Cooperation Program and K-12 teacher continuing education.
We also plan to continue our focus on other key growth initiatives,
including our mobile related products and Big Data solutions. In
addition, we look forward to pursuing select acquisition and
strategic investment opportunities that will complement our avenues
of growth, and further our efforts to position China Distance
Education as the premier life-long learning partner for our
students."
Mr. Mark Marostica, Co-Chief
Financial Officer of CDEL, said, "Turning to organic growth,
excluding both the operating results of Xiamen NetinNet and the
impact of the Renminbi depreciation against the U.S. Dollar, first
quarter net revenue and non-GAAP operating income increased 11.9%
and 11.1% year-over-year, respectively, and as a result, our first
quarter non-GAAP operating margin remained relatively flat
year-over-year. Looking ahead, we will continue to balance our
efforts to drive growth with a keen focus on profitability and
prudent cost controls."
First Quarter Fiscal 2017 Financial Results
Net Revenue. Total net revenue increased by 31.2%
to $32.0 million in the first quarter
of fiscal 2017 from $24.4 million in
the first quarter of fiscal 2016. Net revenue from online education
services, books and reference materials, and other sources
contributed 62.9%, 5.1% and 32.0%, respectively, of total net
revenues for the first quarter of fiscal 2017.
Online education services. Net revenue from online
education services increased by 4.8% to $20.1 million in the first quarter of fiscal 2017
from $19.2 million in the first
quarter of fiscal 2016. This increase was mainly due to strong
revenue growth in the healthcare vertical resulting from the
earlier-than-anticipated release of exam results for certain
healthcare examinations, and contributions from our accounting
vertical.
Books and reference materials. Net revenue from books and
reference materials decreased by 8.3% to $1.6 million in the first quarter of fiscal 2017
from $1.8 million in the first
quarter of fiscal 2016.
Other revenues. Net revenue from other sources increased
by 201.8% to $10.2 million in the
first quarter of fiscal 2017 from $3.4
million in the first quarter of fiscal 2016, primarily due
to Xiamen NetinNet's revenue contribution of $6.5 million in the first quarter of fiscal 2017,
and growth from business start-up training services.
Cost of Sales. Cost of sales increased by 10.3% to
$12.8 million in the first quarter of
fiscal 2017 from $11.6 million in the
first quarter of fiscal 2016. Non-GAAP1 cost of sales
increased by 10.3% to $12.8 million
in the first quarter of fiscal 2017 from $11.6 million in the first quarter of fiscal
2016. The increase was primarily due to expenses associated with
Xiamen NetinNet, as well as increased salaries and related
expenses, lecture fees, and cost of books and reference materials.
This increase was partially offset by decreased rental and related
expenses, and other miscellaneous expenses.
Gross Profit.
Gross profit increased by 50.4% to $19.2
million in the first quarter of fiscal 2017 from
$12.8 million in the prior year
period. Non-GAAP1 gross profit increased by 50.2% to
$19.2 million in the first quarter of
fiscal 2017 from $12.8 million in the
prior year period. Gross margin was 59.9% in the first quarter of
fiscal 2017, compared with 52.3% in the first quarter of fiscal
2016. Non-GAAP1 gross margin was 60.1% in the first
quarter of fiscal 2017, compared with 52.5% in the first quarter of
fiscal 2016.
Operating Expenses. Total operating expenses
increased by 24.5% to $11.7 million
in the first quarter of fiscal 2017 from $9.4 million in the prior year period.
Non-GAAP1 total operating expenses increased by 25.9% to
$11.3 million in the first quarter of
fiscal 2017 from $8.9 million in the
prior year period.
Selling expenses. Selling expenses increased by 32.5% to
$7.2 million in the first quarter of
fiscal 2017 from $5.4 million in the
prior year period. Non-GAAP1 selling expenses increased
by 32.6% to $7.2 million in the first
quarter of fiscal 2017 from $5.4
million in the prior year period. The increase was primarily
driven by increased salaries and related expenses, and increased
advertising and promotional expenses, together with expenses
associated with Xiamen NetinNet. This increase was partially offset
by decreased commissions to online agents.
General and administrative expenses. General and
administrative expenses increased by 13.6% to $4.5 million in the first quarter of fiscal 2017
from $4.0 million in the prior year
period. Non-GAAP1 general and administrative expenses
increased by 15.7% to $4.1 million in
the first quarter of fiscal 2017 from $3.5
million in the prior year period. The increase was mainly
due to expenses associated with Xiamen NetinNet, as well as
increased professional fees.
Income Tax Expense. Income tax expense increased
by 136.6% to $2.4 million in the
first quarter of fiscal 2017 from $1.0
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 108.3% to $8.6
million in the first quarter of fiscal 2017 from
$4.1 million in the prior year
period. Non-GAAP1 net income increased by 96.0% to
$9.1 million in the first quarter of
fiscal 2017 from $4.6 million in the
prior year period.
Operating Cash Flow. Net operating cash inflow
increased by 33.6% to $16.5 million
in the first quarter of fiscal 2017 from $12.3 million in the prior year period. The
operating cash inflow was mainly attributable to net income before
non-cash items generated in the first quarter of fiscal 2017. The
increase in accrued expenses and other liabilities, and deferred
revenue also contributed to the operating cash inflow. This
operating cash inflow was partially offset by the increase in
prepayment and other current assets, and decrease in income tax
payable and refundable fees.
Cash and Cash Equivalents, Term Deposits, Restricted Cash
and Short-term Investments.
Cash and cash equivalents, term deposits, restricted cash and
short-term investments as of December 31,
2016 increased by 50.4% to $106.1
million from $70.5 million as
of September 30, 2016, mainly due to
cash flow of $16.5 million generated
from operating activities in the first quarter of fiscal 2017, and
proceeds from the Zhengbao Yucai share issuance plan of
$12.2 million. This increase was
partially offset by capital expenditures of $0.9 million and payments for certain strategic
investments of $1.6 million.
Outlook
For the second quarter of fiscal 2017, the Company expects to
generate total net revenue in the range of $21.7 million to $22.9 million, representing a
year-over-year decline of approximately 10% to 5%.
The earlier-than-anticipated release of exam results for certain
healthcare examinations resulted in the recognition of $3.1 million of net revenue, for the related
healthcare premium courses, in first quarter fiscal 2017. If the
release of exam results for the aforementioned healthcare
examinations occurred in second quarter fiscal 2017 as originally
expected, the adjusted second quarter fiscal 2017 net revenue
expectation would have been $3.1
million higher, or in the range of $24.8 million to $26.0 million, representing
year-over-year growth of 2.7% to 7.7%.
The above guidance reflects the Company's current and
preliminary view, which is subject to change.
Conference Call
Management will hold a conference call at 8:00 a.m. Eastern Time the following morning on
Wednesday, February 22, 2017
(9:00 p.m. Beijing Time on
February 22, 2017) to discuss
financial results and answer questions from investors and analysts.
Listeners may access the call by dialing:
U.S. Toll Free:
|
+1-866-5194-004
|
International:
|
+65-6713-5090
|
Mainland 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 approximately two hours
after the call until March 1, 2017 by
dialing:
U.S. Toll Free:
|
+1-855-4525-696
|
International:
|
+61-2-8199-0299
|
Mainland China:
|
400-632-2162
|
Hong Kong:
|
800-963-117
|
United Kingdom:
|
0808-234-0072
|
Replay Passcode:
|
68135256
|
Additionally, 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 second quarter of fiscal year 2017 and
quotations from management in this announcement, as well as the
Company's strategic and operational plans (in particular, the
anticipated benefits of strategic growth initiatives, including the
College Cooperation Program, K-12 teacher continuing education,
Open Learning Platform, mobile related products, Big Data
solutions, as well as acquisition and strategic investments)
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: goals and growth strategies; 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; 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
|
China Distance
Education Holdings Limited
|
Consolidated
Balance Sheets
|
(in thousands of
US Dollars, except number of shares and per share
data)
|
|
|
|
|
|
|
|
|
September
30, 2016
|
|
December 31,
2016
|
|
|
(Derived from
Audited)
|
|
(Unaudited)
|
|
Assets:
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
53,677
|
|
70,063
|
|
|
Restricted
cash
|
15,547
|
|
33,406
|
|
|
Short term
investments
|
1,278
|
|
2,593
|
|
|
Accounts receivable,
net of allowance for doubtful accounts of US$563 and
US$661 as of December 31, 2016 and September 30, 2016,
respectively
|
5,454
|
|
5,402
|
|
|
Inventories
|
971
|
|
986
|
|
|
Prepayment and other
current assets
|
5,893
|
|
6,846
|
|
|
Amount due from a
related party
|
208
|
|
113
|
|
|
Deferred tax assets,
current portion
|
1,676
|
|
1,832
|
|
|
Deferred
cost
|
1,118
|
|
897
|
|
|
Total
current assets
|
85,822
|
|
122,138
|
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
Property, plant and
equipment, net
|
13,908
|
|
14,147
|
|
|
Goodwill
|
29,392
|
|
28,234
|
|
|
Long term
investments
|
3,079
|
|
4,122
|
|
|
Other intangible
assets, net
|
11,675
|
|
10,738
|
|
|
Deposit for purchase
of non-current assets
|
1,116
|
|
494
|
|
|
Other non-current
assets
|
3,928
|
|
4,237
|
|
|
Total
non-current assets
|
63,098
|
|
61,972
|
|
|
|
|
|
|
|
|
Total
assets
|
148,920
|
|
184,110
|
|
|
|
|
|
|
|
Liabilities and
equity:
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Bank
borrowings
|
15,551
|
|
29,962
|
|
|
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$25,186 and US$26,279 as of December 31, 2016
and
September 30, 2016, respectively)
|
30,564
|
|
31,916
|
|
|
Income tax payable
(including income tax payable of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$2,524
and
US$3,353 as of December 31, 2016 and September 30, 2016,
respectively)
|
5,308
|
|
5,258
|
|
|
Deferred revenue
(including deferred revenue of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$40,744
and
US$35,437 as of December 31, 2016 and September 30, 2016,
respectively)
|
36,332
|
|
41,602
|
|
|
Refundable fees
(including refundable fees of the consolidated VIE without
recourse to China Distance Education Holdings Limited of US$339 and
US$862 as
of December 31, 2016 and September 30, 2016,
respectively)
|
862
|
|
339
|
|
|
Amount due to related
parties
|
-
|
|
10,607
|
|
|
Dividend
payable
|
-
|
|
14,839
|
|
|
Total
current liabilities
|
88,617
|
|
134,523
|
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
Deferred tax
liabilities, non-current portion
|
3,831
|
|
3,717
|
|
|
Total
non-current liabilities
|
3,831
|
|
3,717
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
92,448
|
|
138,240
|
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
Ordinary shares (par
value of US$0.0001 per share at December 31, 2016 and
September 30, 2016, respectively; Authorized –500,000,000 shares at
December
31, 2016 and September 30, 2016, respectively; Issued and
outstanding –
131,854,773 and 131,729,773 shares at December 31, 2016 and
September 30,
2016, respectively)
|
13
|
|
13
|
|
|
Additional paid-in
capital
|
15,697
|
|
16,195
|
|
|
Accumulated other
comprehensive loss
|
(3,418)
|
|
(8,757)
|
|
|
Retained
Earnings
|
32,944
|
|
26,661
|
|
|
Total
China Distance Education Holdings Limited shareholder's
equity
|
45,236
|
|
34,112
|
|
|
Noncontrolling
interest
|
11,236
|
|
11,758
|
|
|
Total
equity
|
56,472
|
|
45,870
|
|
|
Total
liabilities and equity
|
148,920
|
|
184,110
|
|
|
|
|
|
|
|
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 December 31,
|
|
2015
|
|
2016
|
|
|
|
|
Sales, net of
business tax, value-added tax and related
surcharges:
|
|
|
|
|
Online education
services
|
19,187
|
|
20,106
|
|
Books and reference
materials
|
1,789
|
|
1,641
|
|
Other
revenue
|
3,392
|
|
10,236
|
|
- Sale of learning simulation
software
|
-
|
|
6,463
|
|
-
Business start-up training services
|
1,270
|
|
1,646
|
|
-
Others
|
2,122
|
|
2,127
|
|
Total
net revenues
|
24,368
|
|
31,983
|
|
|
|
|
|
Cost of
sales
|
|
|
|
|
Cost of services and
others
|
(10,945)
|
|
(11,963)
|
|
Cost of tangible
goods sold
|
(672)
|
|
(847)
|
|
Total
cost of sales
|
(11,617)
|
|
(12,810)
|
|
|
|
|
|
Gross
profit
|
12,751
|
|
19,173
|
|
|
|
|
Operating
expenses
|
|
|
|
|
Selling
expenses
|
(5,422)
|
|
(7,185)
|
|
General and
administrative expenses
|
(3,987)
|
|
(4,530)
|
|
Total
operating expenses
|
(9,409)
|
|
(11,715)
|
Other operating
income
|
185
|
|
499
|
|
|
|
|
|
Operating
income
|
3,527
|
|
7,957
|
|
|
|
|
Interest
income
|
1,019
|
|
230
|
Interest
expense
|
(146)
|
|
(119)
|
Exchange
gain
|
720
|
|
3,907
|
|
|
|
|
|
Income
before income taxes
|
5,120
|
|
11,975
|
Income tax
expense
|
(1,012)
|
|
(2,394)
|
Loss from equity
method investment
|
-
|
|
(44)
|
|
|
|
|
Net
income
|
4,108
|
|
9,537
|
Net income
attributable to noncontrolling interest
|
-
|
|
(982)
|
Net
income attributable to China Distance Education
Holdings Limited
|
4,108
|
|
8,555
|
Net income
per share:
|
|
|
|
Net income
attributable to China Distance Education Holdings
Limited
shareholders
|
|
|
|
|
Basic
|
0.029
|
|
0.065
|
|
Diluted
|
0.029
|
|
0.065
|
Net income
per ADS:
|
|
|
|
Net income
attributable to China Distance Education Holdings
Limited
shareholders
|
|
|
|
|
Basic
|
0.116
|
|
0.260
|
|
Diluted
|
0.116
|
|
0.259
|
|
|
|
|
Weighted average
shares used in calculating net income per
share:
|
|
|
|
|
Basic
|
140,510,026
|
|
131,303,833
|
|
Diluted
|
141,562,378
|
|
131,646,433
|
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 December 31,
|
|
|
2015
|
|
2016
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
Cost of
sales
|
|
11,617
|
|
12,810
|
Share-based
compensation expense in cost of sales
|
|
41
|
|
40
|
Non-GAAP cost of
sales
|
|
11,576
|
|
12,770
|
|
|
|
|
|
Selling
expenses
|
|
5,422
|
|
7,185
|
Share-based
compensation expense in selling expenses
|
|
21
|
|
21
|
Non-GAAP selling
expenses
|
|
5,401
|
|
7,164
|
|
|
|
|
|
General and
administrative expenses
|
|
3,987
|
|
4,530
|
Share-based
compensation expense in general and administrative
expenses
|
|
448
|
|
437
|
Non-GAAP general and
administrative expenses
|
|
3,539
|
|
4,093
|
|
|
|
|
|
Gross
profit
|
|
12,751
|
|
19,173
|
Share-based
compensation expenses
|
|
41
|
|
40
|
Non-GAAP gross
profit
|
|
12,792
|
|
19,213
|
|
|
|
|
|
Gross profit
margin
|
|
52.3%
|
|
59.9%
|
Non-GAAP gross profit
margin
|
|
52.5%
|
|
60.1%
|
|
|
|
|
|
Operating
income
|
|
3,527
|
|
7,957
|
Share-based
compensation expenses
|
|
510
|
|
498
|
Non-GAAP operating
income
|
|
4,037
|
|
8,455
|
|
|
|
|
|
Operating
margin
|
|
14.5%
|
|
24.9%
|
Non-GAAP operating
margin
|
|
16.6%
|
|
26.4%
|
|
|
|
|
|
Net income
|
|
4,108
|
|
8,555
|
Share-based
compensation expense
|
|
510
|
|
498
|
Non-GAAP net
income
|
|
4,618
|
|
9,053
|
|
|
|
|
|
Net income
margin
|
|
16.9%
|
|
26.7%
|
Non-GAAP net income
margin
|
|
19.0%
|
|
28.3%
|
|
|
|
|
|
Net income per
share—basic
|
|
0.029
|
|
0.065
|
Net income per
share—diluted
|
|
0.029
|
|
0.065
|
Non-GAAP net income
per share—basic
|
|
0.033
|
|
0.069
|
Non-GAAP net income
per share—diluted
|
|
0.033
|
|
0.069
|
|
|
|
|
|
Net income per ADS
attributable to China Distance Education Holdings Limited
shareholders—basic (note 1)
|
|
0.116
|
|
0.260
|
Net income per
ADS attributable to China Distance Education Holdings Limited
shareholders—diluted (note 1)
|
|
0.116
|
|
0.259
|
Non-GAAP net income
per ADS attributable to China Distance Education Holdings
Limited shareholders—basic (note 1)
|
|
0.131
|
|
0.276
|
Non-GAAP net income
per ADS attributable to China Distance Education Holdings
Limited shareholders—diluted (note 1)
|
|
0.130
|
|
0.275
|
|
|
|
|
|
Weighted average
shares used in calculating basic net income per share
|
|
140,510,026
|
|
131,303,833
|
Weighted average
shares used in calculating diluted net income per share
|
|
141,562,378
|
|
131,646,433
|
Weighted average
shares used in calculating basic non-GAAP net income per
share
|
|
140,510,026
|
|
131,303,833
|
Weighted average
shares used in calculating diluted non-GAAP net income per
share
|
|
141,562,378
|
|
131,646,433
|
|
|
|
|
|
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-financial-results-for-first-quarter-fiscal-year-2017-300410813.html
SOURCE China Distance Education Holdings Limited
Copyright . 21 PR Newswire