BEIJING, March 15, 2018 /PRNewswire/ -- RYB
Education, Inc. ("RYB" or the "Company") (NYSE: RYB), a leading
early childhood education service provider in China, today announced its unaudited financial
results for the fourth quarter and full year ended December 31, 2017.
Fourth Quarter 2017
Operational and Financial Summary
- Number of students enrolled at RYB directly operated
kindergartens was 21,684 as of December 31,
2017, compared with 17,900 as of December 31, 2016.
- Number of franchise play-and-learn centers and kindergartens in
operation were 946 and 210 as of December
31, 2017, respectively.
- Net revenues were $39.1 million,
compared with $32.4 million for the
fourth quarter of 2016.
- Gross profit was $7.5 million,
compared with $2.4 million for the
fourth quarter of 2016.
- Net income attributable to ordinary shareholders of RYB for the
fourth quarter of 2017 was $0.2
million, compared with $0.1
million for the fourth quarter of 2016. Adjusted net income
attributable to ordinary shareholders[1] of RYB for the
fourth quarter of 2017 was $1.9
million, compared with $0.1
million for the fourth quarter of 2016.
- Cash used in operating activities was $15.0 million during the fourth quarter of 2017,
compared with $4.8 million of cash
generated from operating activities during the fourth quarter of
2016.
[1]
Adjusted net income attributable to ordinary shareholders is a
non-GAAP financial measure, which is defined as net income
attributable to ordinary shareholders excluding share-based
compensation expenses. See "Use of Non-GAAP Financial Measures" and
"Reconciliations of GAAP and non-GAAP results" elsewhere in this
earnings release.
|
Full Year 2017 Financial Summary
- Net revenues were $140.8 million,
compared with $108.5 million for
2016.
- Gross profit was $29.5 million,
compared with $16.9 million for
2016.
- Net income attributable to ordinary shareholders of RYB for
2017 was $7.1 million, compared with
$6.5 million for 2016. Adjusted net
income attributable to ordinary shareholders of RYB for 2017 was
$11.1 million, compared with
$6.5 million for 2016.
Fourth Quarter 2017 Financial Results
Net Revenues
Net revenues for the fourth quarter of 2017 increased to
$39.1 million, from $32.4 million for the same quarter of 2016.
Service revenues for the fourth quarter of 2017 increased to
$34.8 million, from $29.0 million for the same quarter of 2016. The
increase was primarily due to an increase in the number of students
enrolled at our directly owned kindergartens and increases in
training and other service revenues.
Product revenues for the fourth quarter of 2017 increased to
$4.3 million, compared with
$3.4 million for the same quarter of
2016. The increase was primarily due to an increase in the amount
of merchandise sold through the Company's franchise network.
Cost of Revenues
Cost of revenues for the fourth quarter of 2017 was $31.6 million, compared with $30.0 million for the same quarter of 2016. Cost
of services revenues for the fourth quarter of 2017 was
$29.3 million, compared with
$28.2 million for the same quarter of
2016. The increase was primarily due to an increase in staff
compensation at the Company's directly operated kindergartens and
play-and-learn centers and, to a lesser extent, an increase in
compensation to our franchise-service-and-supervision team. Cost of
products revenues for the fourth quarter of 2017 was $2.3 million, compared with $1.8 million for the same quarter of 2016, as the
Company sold more products in the three months ended December 31, 2017.
Gross Profit and Gross Margin
Gross profit for the fourth quarter of 2017 was $7.5 million, compared with $2.4 million for the same quarter of 2016.
Operating Expenses
Total operating expenses for the fourth quarter of 2017 were
$7.6 million, compared with
$2.5 million for the same quarter of
2016. Excluding share-based compensation expenses, operating
expenses were $6.0 million.
Selling expenses for the fourth quarter of 2017 were
$0.5 million, compared with
$0.6 million for the same quarter of
2016.
General and administrative ("G&A") expenses for the fourth
quarter of 2017 were $7.1 million,
compared with $1.9 million for the
same quarter of 2016. Excluding share-based compensation expenses,
G&A expenses were $5.5 million
for the fourth quarter of 2017. The increase in G&A expense
excluding share-based compensation expenses was primarily due to
higher cash compensation cost and additional expenses incurred in
professional service fees. The share-based-compensation included in
G&A expense was $1.6 million for
the quarter.
Operating Income/Loss
Operating loss for the fourth quarter of 2017 was $0.2 million, compared with $0.1 million for the same quarter last year.
Adjusted operating income[2] was $1.5 million for the fourth quarter of 2017,
compared with a loss of $0.1 million
for the same quarter of 2016.
Net Income
Net income attributable to ordinary shareholders of RYB for the
fourth quarter of 2017 was $0.2
million, compared with $0.1
million for the same quarter of 2016. Adjusted net income
attributable to ordinary shareholders of RYB, which excludes the
impact of $1.7 million of share-based
compensation expense for the fourth quarter of 2017, was
$1.9 million, compared to
$0.1 million for the same quarter of
2016.
Basic and diluted net income per American depositary share
("ADS") attributable to ordinary shareholders of RYB for the fourth
quarter of 2017 were $0.01 and
$0.01, respectively, compared with
basic and diluted net income per ADS attributable to ordinary
shareholders of RYB of $0.00 and
$0.00, respectively for the same
quarter of 2016. Each ADS represents one Class A ordinary
share.
Adjusted basic and diluted net income per ADS attributable to
ordinary shareholders[3] of RYB for the fourth quarter
of 2017 were $0.06 and $0.06, respectively, compared with adjusted basic
and diluted net income per ADS attributable to ordinary
shareholders of RYB of $0.00 and
$0.00, respectively for the same
quarter last year.
EBITDA[4] for the fourth quarter of 2017 was
$2.3 million, compared with
$1.2 million for the same period last
year. Adjusted EBITDA[5] for the fourth quarter of 2017
was $3.9 million, compared with
$1.2 million for the same quarter of
2016.
[2]
Adjusted operating income is a non-GAAP financial measure, which is
defined as operating income excluding share-based compensation
expenses. See "Use of Non-GAAP Financial Measures" and
"Reconciliations of GAAP and non-GAAP results" elsewhere in this
earnings release.
|
[3]
Adjusted basic and diluted net income per ADS attributable to
ordinary shareholders is a non-GAAP financial measure, which is
defined as basic and diluted net income per ADS attributable to
ordinary shareholders excluding share-based compensation expenses.
See "Use of Non-GAAP Financial Measures" and "Reconciliations of
GAAP and non-GAAP results" elsewhere in this earnings
release.
|
[4] EBITDA
is defined as net income excluding depreciation, amortization and
income tax expenses. See "Use of Non-GAAP Financial Measures" and
"Reconciliations of GAAP and non-GAAP results" elsewhere in this
earnings release.
|
[5]
Adjusted EBITDA is a non-GAAP financial measure, which is defined
as net income excluding depreciation, amortization, interest
expenses, income tax expenses, and share-based compensation
expenses. See "Use of Non-GAAP Financial Measures" and
"Reconciliations of GAAP and non-GAAP results" elsewhere in this
earnings release.
|
Balance Sheet
As of December 31, 2017, the
Company had total cash, cash equivalents and term deposits of
$158.7 million, compared with
$46.7 million as of December 31, 2016.
Operating Cash Flow
Cash used in operating activities was $15.0 million during the fourth quarter of 2017,
compared with $4.8 million of cash
generated from operating activities during the fourth quarter of
2016. The cash outflow in the quarter was primarily driven by the
pay-out of IPO related disbursements and one-off refunds to
contracted and potential franchisees.
Full Year 2017 Financial Results
Net Revenues
Net revenues for 2017 was $140.8
million, compared with $108.5
million for 2016.
Service revenues for 2017 was $122.9
million, compared with $95.9
million for 2016.
Product revenues for 2017 was $17.9
million, compared with $12.6
million for 2016. The increase was primarily due to an
increase in the amount of merchandise sold through the Company's
franchise network.
Cost of Revenues
Cost of revenues for 2017 was $111.3
million, compared with $91.6
million for 2016. Cost of services revenues for 2017 was
$101.5 million, compared with
$85.4 million for 2016. The increase
was primarily due to an increase in staff compensation at the
Company's directly operated kindergartens and play-and-learn
centers and, to a lesser extent, an increase in compensation to the
franchise service and supervision team. Cost of products revenues
for 2017 was $9.8 million, compared
with $6.3 million for 2016, as the
Company sold more products in 2017.
Gross Profit
Gross profit for 2017 was $29.5
million, compared with $16.9
million for 2016.
Operating Expenses
Total operating expenses for 2017 were $20.2 million, compared with $9.3 million for 2016. Excluding share-based
compensation expenses, operating expenses were $16.3 million for 2017.
Selling expenses for 2017 were $1.8
million, compared with $1.9
million for 2016.
G&A expenses for 2017 were $18.4
million, compared with $7.4
million for 2016. Excluding share-based compensation
expenses, G&A expenses were $14.6
million for 2017. The increase was primarily due to higher
expenses incurred in staff compensation and professional service
fees.
Operating Income
Operating income for 2017 was $9.3
million, compared with $7.6
million for 2016.
Adjusted operating income for 2017 was $13.3 million, compared with $7.6 million for 2016.
Net Income
Net income attributable to ordinary shareholders of RYB for 2017
was $7.1 million, compared with
$6.5 million for 2016.
Adjusted net income attributable to ordinary shareholders of
RYB, which excludes the impact of share-based compensation expense,
for 2017 was $11.1 million, compared
with $6.5 million for 2016.
Basic and diluted net income per American depositary share
("ADS") attributable to ordinary shareholders of RYB for 2017 were
$0.29 and $0.27, respectively, compared with basic and
diluted net income per ADS attributable to ordinary shareholders of
RYB of $0.28 and $0.26, respectively for 2016. Each ADS represents
one Class A ordinary share.
Adjusted basic and diluted net income per ADS attributable to
ordinary shareholders of RYB for 2017 was $0.45 and $0.42,
respectively, compared with adjusted basic and diluted net income
per ADS attributable to ordinary shareholders of RYB of
$0.28 and $0.26, respectively for 2016.
EBITDA for 2017 was $16.5 million,
compared with $12.9 million for 2016.
Adjusted EBITDA for 2017 was $20.4
million, compared with $12.9
million for 2016.
Other Operations
Update
In late 2017, a female teacher at
RYB-operated Xintiandi kindergarten in Beijing was criminally charged with
"maltreatment of children under care" in connection with a class
she taught (the "Xintiandi incident"). The case remains under
investigation. The police have published a report rejecting as
rumors certain allegations against RYB that had circulated on
internet. Nonetheless, in the wake of the Xintiandi incident, the
Company has redoubled its efforts to raise quality standards on the
security and safety of its facilities and the management of its
faculty and staff. The Company has taken steps to implement more
stringent teacher recruitment requirements, by, among other things,
improving teacher training, raising teacher compensation, and more
closely monitoring and providing support to its staff. In addition,
the Company has taken measures to improve its security monitoring
and management system. The Company has invited parents to
participate in open classes and other efforts aiming to make its
facilities more safe and transparent. While the aforementioned
actions are expected to increase the Company's operating costs in
the near term, they are also expected to help set a strong
foundation for a stable high-quality teaching team; create a warm,
secure and harmonious environment for its students and their
parents and enable the Company to continue delivering high-quality
education. These efforts are also expected to help build long-term
growth prospects and sustain healthy financial
performance.
About RYB Education, Inc.
Founded on the core values of ''Care'' and ''Responsibility,''
RYB Education, Inc. is a leading early childhood education service
provider in China. Since opening its first play-and-learn
center in 1998, the Company has grown and flourished with the
mission to provide individualized age-appropriate education to
stimulate and nurture children so they can realize their full
potential. During its nearly two decades of operating history, the
Company has built "RYB" into a well-recognized education brand and
helped bring about many new educational practices
in China's early childhood education industry. RYB's
comprehensive early childhood education solutions meet the needs of
children from infancy to 6 years old through structured courses at
kindergartens and play-and-learn centers, as well as at-home
educational products and services.
For more information, please visit http://ir.rybbaby.com
Use of Non-GAAP Financial Measures
We use EBITDA, adjusted EBITDA, adjusted operating income,
adjusted net income, and adjusted basic and diluted net income per
ADS, each a non-GAAP financial measure, in evaluating our operating
results and for financial and operational decision-making
purposes.
EBITDA is defined as net income excluding depreciation,
amortization, interest expenses, and income tax expenses; adjusted
EBITDA is defined as net income excluding depreciation,
amortization, interest expenses, income tax expenses, and
share-based compensation expenses; adjusted operating income is
defined as operating income excluding share-based compensation
expenses; adjusted net income attributable to ordinary shareholders
is defined as net income attributable to ordinary
shareholders excluding share-based compensation expenses; and
adjusted basic and diluted net income per ADS attributable to
ordinary shareholders are defined as basic and diluted net income
per ADS attributable to ordinary shareholders excluding share-based
compensation expenses.
We believe that EBITDA, adjusted EBITDA, adjusted operating
income, adjusted net income, and adjusted basic and diluted net
income per ADS, help identify underlying trends in our business
that could otherwise be distorted by the effect of certain expenses
that we include in income from operations and net income. We
believe that EBITDA, adjusted EBITDA, adjusted operating income,
adjusted net income, and adjusted basic and diluted net income per
ADS, provide useful information about our operating results,
enhance the overall understanding of our past performance and
future prospects and allow for greater visibility with respect to
key metrics used by our management in its financial and operational
decision-making.
EBITDA, adjusted EBITDA, adjusted operating income, adjusted net
income, and adjusted basic and diluted net income per ADS, should
not be considered in isolation or construed as an alternative to
net income or any other measure of performance or as an indicator
of our operating performance. Investors are encouraged to review
the historical Adjusted financial measures to the most directly
comparable GAAP measures. EBITDA, adjusted EBITDA, adjusted
operating income, adjusted net income, and adjusted basic and
diluted net income per ADS, presented here may not be comparable to
similarly titled measures presented by other companies. Other
companies may calculate similarly titled measures differently,
limiting their usefulness as comparative measures to our data. We
encourage investors and others to review our financial information
in its entirety and not rely on a single financial measure.
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," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
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: the
Company's brand recognition and market reputation; student
enrollment in the Company's teaching facilities; the Company's
growth strategies; its future business development, results of
operations and financial condition; trends and competition in
China's early childhood education
market; changes in its revenues and certain cost or expense items;
the expected growth of the Chinese early education market; Chinese
governmental policies relating to the Company's industry and
general economic conditions in China. Further information regarding these and
other risks is included in the Company's filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
RYB
Education, Inc.
Investor Relations
Tel: 86-10-8767-5752
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: ryb@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(in thousands of
U.S. dollars)
|
|
|
As
of
|
|
December
31,
2017
|
December 31,
2016
|
Current
assets:
|
|
|
Cash and cash
equivalents
|
158,691
|
46,256
|
Term
deposits
|
-
|
432
|
Accounts receivable,
net
|
901
|
1,022
|
Inventories
|
3,549
|
3,043
|
Prepaid expenses and
other current assets
|
9,541
|
9,414
|
Amounts due from
related parties
|
126
|
3,816
|
Total current
assets
|
172,808
|
63,983
|
|
|
|
Non-current
assets:
|
|
|
Restricted
cash
|
543
|
372
|
Property, plant and
equipment, net
|
40,163
|
29,411
|
Goodwill
|
428
|
401
|
Long-term
investments
|
256
|
378
|
Deferred tax
assets
|
12,430
|
6,951
|
Other non-current
assets
|
3,110
|
2,914
|
Total
assets
|
229,738
|
104,410
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
Current
liabilities:
|
|
|
Prepayments from
customers, current portion(including
prepayments from customers of the consolidated VIE
without recourse to the Group of $ 11,963 and $16,570 as
of December 31, 2017 and 2016, respectively)
|
11,968
|
16,576
|
Accrued expenses and
other current liabilities(including
accrued expenses and other current liabilities of the
consolidated VIE without recourse to the Group of $ 49,742
and $36,063 as of December 31, 2017 and 2016,
respectively)
|
51,854
|
36,436
|
Income taxes
payable(including income taxes payable of
the consolidated VIE without recourse to the Group of
$ 8,505 and $ 5,498 as of December 31, 2017 and 2016,
respectively)
|
10,534
|
5,869
|
Deferred revenue,
current portion(including deferred
revenue of the consolidated VIE without recourse to the
Group of $22,327 and $20,446 as of December 31, 2017
and 2016, respectively)
|
22,666
|
21,406
|
Total current
liabilities
|
97,022
|
80,287
|
|
|
|
|
|
|
|
|
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Continued)
|
(in thousands of
U.S. dollars)
|
|
As
of
|
|
December
31,
2017
|
December 31,
2016
|
Non-current
liabilities:
|
|
|
Prepayments from
customers, non-current portion
(including prepayments from customers of the consolidated
VIE without recourse to the Group of $ 8,542 and $5,908 as
of December 31, 2017 and 2016, respectively)
|
8,542
|
5,908
|
Deferred revenue,
non-current portion (including deferred
revenue of the consolidated VIE without recourse to the
Group of $8,505 and $6,742 as of December 31, 2017 and
2016, respectively)
|
10,396
|
8,242
|
Other non-current
liabilities (including other non-current
liabilities of the consolidated VIE without recourse to the
Group of $ 8,483 and $6,012 as of December 31, 2017 and
2016, respectively)
|
8,484
|
6,012
|
Total
liabilities
|
124,444
|
100,449
|
|
|
|
Equity
|
|
|
Ordinary
shares
|
29
|
23
|
Additional paid-in
capital
|
129,134
|
36,420
|
Statutory
reserve
|
2,678
|
2,156
|
Accumulated other
comprehensive income
|
783
|
381
|
Accumulated
deficit
|
(28,879)
|
(35,472)
|
Total RYB
Education, Inc. shareholders' equity
|
103,745
|
3,508
|
Non-controlling
interest
|
1,549
|
453
|
Total
equity
|
105,294
|
3,961
|
Total liabilities
and total equity
|
229,738
|
104,410
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
(in thousands of
U.S. dollars, except share, ADS, per share and per ADS
data)
|
|
|
|
|
Three Months
Ended
December 31,
|
Year
Ended
December
31,
|
2017
|
2016
|
2017
|
2016
|
Net
revenues:
|
|
|
|
|
Services
|
34,755
|
28,998
|
122,869
|
95,936
|
Products
|
4,306
|
3,434
|
17,934
|
12,577
|
Total net
revenues
|
39,061
|
32,432
|
140,803
|
108,513
|
Cost of
revenues:
|
|
|
|
|
Services
|
29,292
|
28,194
|
101,522
|
85,356
|
Products
|
2,292
|
1,845
|
9,755
|
6,260
|
Total cost of
revenues
|
31,584
|
30,039
|
111,277
|
91,616
|
Gross
profit
|
7,477
|
2,393
|
29,526
|
16,897
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
Selling
Expenses
|
536
|
643
|
1,774
|
1,922
|
General and
administrative
|
7,106
|
1,895
|
18,418
|
7,424
|
Total operating
expenses
|
7,642
|
2,538
|
20,192
|
9,346
|
|
|
|
|
|
Operating (loss)
income
|
(165)
|
(145)
|
9,334
|
7,551
|
Interest
income
|
435
|
42
|
563
|
107
|
Government subsidy
income
|
443
|
210
|
863
|
573
|
Loss on disposal of
subsidiaries
|
-
|
-
|
(168)
|
-
|
|
|
|
|
|
Income before
income taxes
|
713
|
107
|
10,592
|
8,231
|
Less: Income tax
expense
|
486
|
26
|
3,812
|
2,155
|
|
|
|
|
|
Income before loss
in equity method
investments
|
227
|
81
|
6,780
|
6,076
|
Loss from equity
method investment
|
(117)
|
(189)
|
(239)
|
(189)
|
|
|
|
|
|
Net income
(loss)
|
110
|
(108)
|
6,541
|
5,887
|
Less: Net loss
attributable to noncontrolling
interest
|
(89)
|
(201)
|
(574)
|
(618)
|
|
|
|
|
|
Net income
attributable to ordinary
shareholders of RYB
|
199
|
93
|
7,115
|
6,505
|
|
|
|
|
|
|
|
|
|
|
Net income per share
attributable to ordinary
shareholders of RYB Education, Inc.
|
|
|
|
|
Basic
|
0.01
|
0.00
|
0.29
|
0.28
|
Diluted
|
0.01
|
0.00
|
0.27
|
0.26
|
Net income per ADS
attributable to ordinary
shareholders of RYB Education, Inc. (Note 1)
|
|
|
|
|
Basic
|
0.01
|
0.00
|
0.29
|
0.28
|
Diluted
|
0.01
|
0.00
|
0.27
|
0.26
|
Weighted average
shares used in calculating
net income per ordinary share
|
|
|
|
|
Basic
|
29,213,801
|
23,163,801
|
24,735,445
|
23,163,801
|
Diluted
|
31,678,204
|
24,864,290
|
26,566,657
|
24,682,525
|
|
Note 1: Each ADS
represents one Class A ordinary share.
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME
|
(in thousands of
U.S. dollars)
|
|
|
|
|
Three Months
Ended December 31,
|
Year
Ended
December
31,
|
|
2017
|
2016
|
2017
|
2016
|
Net income
|
110
|
(108)
|
6,541
|
5,887
|
Other comprehensive
income (loss), net of tax of
nil:
|
|
|
|
|
Change in cumulative
foreign currency translation
adjustments
|
115
|
(94)
|
410
|
(99)
|
Total
comprehensive income
|
225
|
(202)
|
6,951
|
5,788
|
Less: Comprehensive
loss attributable to non-
controlling interest
|
(120)
|
(224)
|
(566)
|
(630)
|
Comprehensive
income attributable to RYB
Education, Inc.
|
345
|
22
|
7,517
|
6,418
|
RECONCILIATION
OF GAAP and non-GAAP results
|
(in thousands of U.S.
dollars, except share, ADS, per share and per ADS
data)
|
|
|
Three Months
Ended December 31,
|
Year
Ended
December
31,
|
|
2017
|
2016
|
2017
|
2016
|
|
|
|
|
|
Operating
income
|
(165)
|
(145)
|
9,334
|
7,551
|
Share-based
compensation expenses
|
1,654
|
-
|
3,990
|
-
|
Adjusted operating
income
|
1,489
|
(145)
|
13,324
|
7,551
|
|
|
|
|
|
Net income
attributable to RYB
|
199
|
93
|
7,115
|
6,505
|
Share-based
compensation expenses
|
1,654
|
-
|
3,990
|
-
|
Adjusted net income
attributable to RYB
|
1,853
|
93
|
11,105
|
6,505
|
|
|
|
|
|
Net income
|
110
|
(108)
|
6,541
|
5,887
|
Add: Income tax
expense
|
486
|
26
|
3,812
|
2,155
|
Depreciation of property, plant and equipment
|
1,668
|
1,329
|
6,099
|
4,831
|
EBITDA
|
2,264
|
1,247
|
16,452
|
12,873
|
Share-based
compensation expenses
|
1,654
|
-
|
3,990
|
-
|
Adjusted
EBITDA
|
3,918
|
1,247
|
20,442
|
12,873
|
|
|
|
|
|
Net income per ADS
attributable to RYB- Basic
(Note1)
|
0.01
|
0.00
|
0.29
|
0.28
|
Net income per ADS
attributable to RYB- Diluted
(Note1)
|
0.01
|
0.00
|
0.27
|
0.26
|
|
|
|
|
|
Adjusted net income
per ADS attributable to RYB-
Basic (Note1)
|
0.06
|
0.00
|
0.45
|
0.28
|
Adjusted Net income
per ADS attributable to RYB-
Diluted (Note1)
|
0.06
|
0.00
|
0.42
|
0.26
|
|
|
|
|
|
Weighted average
shares used in calculating
basic net income per ADS (Note1)
|
29,213,801
|
23,163,801
|
24,735,445
|
23,163,801
|
Weighted average
shares used in calculating
diluted net income per ADS (Note1)
|
31,678,204
|
24,864,290
|
26,566,657
|
24,682,525
|
|
|
|
|
|
Adjusted net income
per share- Basic
|
0.06
|
0.00
|
0.45
|
0.28
|
Adjusted net income
per share- Diluted
|
0.06
|
0.00
|
0.42
|
0.26
|
|
Note 1: Each ADS
represents one Class A ordinary share.
|
View original
content:http://www.prnewswire.com/news-releases/ryb-education-inc-reports-fourth-quarter-and-full-year-2017-financial-results-300614550.html
SOURCE RYB Education, Inc.