ATA Withdraws Fiscal Third Quarter and Fiscal Year 2009 Guidance
January 26 2009 - 7:00AM
PR Newswire (US)
BEIJING, Jan. 26 /PRNewswire-FirstCall-Asia/ -- ATA Inc.
(NASDAQ:ATAI) ("ATA", or the "Company"), the leading provider of
computer-based testing services in China, today announced the
withdrawal of its previously announced fiscal third quarter and
fiscal year 2009 guidance. Subsequent to providing fiscal third
quarter and fiscal year 2009 guidance on November 10, 2008, the
Company has experienced further delays in the implementation of its
contract with the Ministry of Culture to provide nationwide
preparation and testing for Internet cafes in China, which
negatively impacted revenues for the fiscal third quarter. "We are
disappointed with the delay in the implementation of this important
contract with the Ministry of Culture. We had anticipated in our
previous guidance that this contract would make a strong
contribution to our third quarter and fiscal year 2009 results,"
commented Mr. Kevin Ma, Chairman and Chief Executive Officer of
ATA. "We continue to expect that this contract will make a positive
contribution to our profitable growth once it is implemented, and
we remain confident that the long-term fundamentals of our business
remain solid." Due to the difficulty in predicting the timing of
implementation of new contracts and projects in the computer-based
testing market, ATA has decided that going forward it will no
longer consider the potential effect of unimplemented contracts and
projects when providing earnings guidance. ATA plans to provide
updated guidance for fiscal year 2009 when the Company announces
its fiscal third quarter results in the second week of February,
2009. About ATA Inc.: ATA Inc. (NASDAQ:ATAI) ("ATA" or the
"Company") is the leading provider of computer-based testing
services in China. The Company offers comprehensive services for
the creation and delivery of computer-based tests based on its
proprietary testing technologies and test delivery platform. The
Company's computer-based testing services are used for professional
licensure and certification tests in various industries, including
information technology, or IT, services, banking, teaching,
securities, insurance and accounting. ATA's test center network
comprised 1,835 authorized test centers located throughout China as
of December 31, 2007, which the Company believes is the largest
test center network of any commercial testing service provider in
China. Combined with its test delivery technologies, this network
allows ATA's clients to administer large-scale nationwide tests in
a consistent, secure and cost-effective manner. ATA has delivered
over 23 million tests since it commenced operations in 1999, and in
July 2007 delivered tests to more than 200,000 test takers in a
single day for the China Banking Association, through its test
delivery platform. Safe-Harbor Statement This announcement may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"look forward to," "outlook," "forecast," "will," "expect,"
"anticipate," "future," "intend," "plan," "believe," "estimate" and
similar terminology. For example, statements by ATA and its CEO
relating to the Company's future performance and intention to
revise how it provides guidance constitute forward-looking
statements. These and any other forward-looking statements involve
various risks and uncertainties. Although the Company believes the
expectations expressed in these forward-looking statements are
reasonable and accurate, the Company cannot assure you that those
expectations will turn out to be correct. For additional
information on these and other important factors that could
adversely affect the Company's business, financial condition,
results of operations and future prospects, please refer to a more
detailed discussion of the Company's risk factors in the Company's
filings with the Securities and Exchange Commission. Contact: ATA
Inc. Carl Yeung, CFO Phone: +(86) 10 6518-1122-5107 Email: URL:
http://www.ata.net.cn/ CCG Elite Investor Relations Crocker
Coulson, President Phone: +(1) 646-213-1915 Email: Ed Job, CFA
Phone: +(1) 646-213-1914 Email: URL: http://www.ccgir.com/
DATASOURCE: ATA Inc. CONTACT: ATA Inc., Carl Yeung, CFO, +(86) 10
6518-1122-5107, ; CCG Elite Investor Relations, Crocker Coulson,
President, +1-646-213-1915, , or Ed Job, CFA, +1-646-213-1914, Web
Site: http://www.ata.net.cn/
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