BEIJING, Aug. 15, 2012 /PRNewswire-Asia-FirstCall/
-- China Distance Education Holdings Limited (NYSE: DL)
("CDEL", or the "Company"), a leading provider of online education
in China focusing on professional
education, reported today its unaudited financial results for the
third quarter of fiscal year 2012 ended June
30, 2012.
Third Quarter Fiscal 2012 Business and Financial
Highlights:
- Total course enrollments from continuing operations was
377,600, an increase of 16.4% from the third quarter of fiscal
2011.
- Net revenues from continuing operations increased 8.1% over the
third quarter of fiscal 2011 to US$13.1
million.
- Gross profit from continuing operations decreased 4.2% from the
third quarter of fiscal 2011 to US$6.8
million.
- Non-GAAP[1] gross profit from continuing operations decreased
8.7% over the third quarter of fiscal 2011 to US$6.8 million.
- Gross profit margin from continuing operations was 51.9%,
compared to 58.5% in the third quarter of fiscal 2011. Non-GAAP[1]
gross profit margin from continuing operations was 52.0%, compared
to 61.5% in the same period last year.
- Operating income from continuing operations was US$1.0 million, compared to US$1.1 million in the third quarter of fiscal
2011. Non-GAAP[1] operating income from continuing operations was
US$1.1 million, compared to
US$3.2 million in the third quarter
of fiscal 2011.
- Net income was US$1.3 million,
compared to US$0.9 million in the
third quarter of fiscal 2011.
- Non-GAAP[1] net income was US$1.4
million, compared to US$2.7
million in the third quarter of fiscal 2011.
- Basic and diluted net income per American
Depositary Share ("ADS") was US$0.039, compared to basic and diluted net
income per ADS of US$0.028 for the
third quarter of fiscal 2011. Each ADS represents four
ordinary shares.
- Basic and diluted non-GAAP[1] net income per ADS was
US$0.042, compared to basic and
diluted non-GAAP[1] net income per ADS of US$0.083 for the third quarter of fiscal
2011.
- Deferred revenue and refundable fees balance was US$16.9 million, a 34.5% increase from the third
quarter end of fiscal 2011.
Commenting on the results, Mr. Zhengdong
Zhu, Chairman and Chief Executive Officer said, "In the
third quarter, we continued to focus on enhancing our students'
learning experience and results and on executing our growth
strategy. However, as anticipated, our results were impacted by the
delayed timing of the Accounting Professional Qualification
Examination, or "APQE", and CPA exams. The delay has shifted
the timing of enrollments and a certain amount of GAAP revenue from
the fiscal third quarter into the fourth quarter and the next
fiscal year. We believe the impact from the delay is
primarily a matter of timing dictated by external factors, and does
not reflect on overall market demand for our products and services,
which remains strong. Our results excluding the examination
timing issues remain healthy, as we achieved revenue growth towards
the top of our guidance range while enrollment and average selling
price ("ASP") remain strong across most of our other accounting and
non-accounting verticals.
"Going forward, we will continue to focus on integrating cutting
edge online and mobile learning technologies in our delivery model
and on our content and platform development to continue to enhance
our students' learning experience and attract new students to our
programs. We expect to continue to grow at a healthy pace for the
remainder of this year and into fiscal
2013."
Ms. Ping Wei, Chief Financial
Officer of CDEL, commented, "Due to the fixed nature of a
significant portion of our costs and expenses, the delay of certain
APQE and CPA revenue from the third quarter to later quarters had a
material impact on our net income as compared to the prior year
period. We believe that this impact is due to examination
timing issues which are temporary in nature, and as a result, we
expect to deliver increased profitability in later
quarters."
Fiscal Third Quarter 2012
Unaudited Financial Results
Net
Revenues. Total net revenues from
continuing operations for the third quarter of fiscal 2012 were
US$13.1 million, representing a
year-over-year increase of 8.1% from US$12.1
million in the third quarter of fiscal 2011.
Online education services net revenues for the third quarter of
fiscal 2012 were US$9.3 million, an
increase of 4.6% from the third quarter of fiscal 2011. The
increase was a result of increased revenue in accounting test
preparation courses and healthcare courses. Such increase was
partially offset by decreased revenue from APQE and CPA courses due
to delayed timing of examinations, and accounting continuing
education courses, revenue recognition for which was impacted by
the delayed timing of course completion by students.
Net revenues from books and reference materials for the third
quarter of fiscal 2012 were US$1.1
million, an increase of 10.1% from the third quarter of
fiscal 2011, after reallocating the online course services
deliverable of US$0.5 million, which
are included in online education services net revenues.
Net revenues from others increased by 21.2% to US$2.7 million for the third quarter of fiscal
2012 from US$2.2 million in the same
period of last year. The increase was a result of increased revenue
in platform production services, offline business start-up training
courses provided by Zhengbao Yucai and other offline supplementary
training courses. Such increase was partially offset by decreased
revenue from magazine content production services and courseware
production services.
Cost of Sales. Cost of sales from continuing
operations for the third quarter of fiscal 2012 was US$6.32 million, representing a 25.5% increase
over the third quarter of fiscal 2011. Non-GAAP[1] cost of
sales from continuing operations for the third quarter of fiscal
2012 was US$6.31 million, an increase
of 35.0% over the same period last year. The increase in cost of
sales was due to increased server management fee, salaries and
related expenses, lecturer fees, cost of book and reference
materials due to the increased sales volume, and expenses incurred
by our growing business start-up training services.
Gross Profit and Gross Margin. Gross
profit from continuing operations for the third quarter of fiscal
2012 was US$6.81 million,
representing a 4.2% decrease from US$7.1
million in the same period last year. Non-GAAP[1] gross
profit from continuing operations was US$6.82 million, a decrease of 8.7%
year-over-year. Gross profit margin from continuing operations for
the third quarter of fiscal 2012 was 51.9%, compared to 58.5% in
the third quarter of fiscal 2011. Non-GAAP[1] gross profit margin
from continuing operations for the third quarter of fiscal 2012 was
52.0%, compared to 61.5% in the same period last year. The decrease
in gross profit margin was primarily due to decreased revenue from
APQE and CPA exams resulted from the delayed timing of such
examinations.
Operating Expenses. Total operating expenses from
continuing operations for the third quarter of fiscal 2012 were
US$5.8 million, a decrease of 11.7%
year-over-year. Non-GAAP[1] operating expenses from
continuing operations were US$5.7
million, representing a year-over-year increase of
18.4%.
Selling expenses from continuing operations amounted to
US$3.51 million for the third quarter
of fiscal 2012, representing an increase of 21.9%
year-over-year. Non-GAAP[1] selling expenses from continuing
operations were US$3.5 million, a
27.4% increase from the same period last year primarily as a result
of increased commissions to our online distributors. Such
increase was partially offset by a significant decrease in
advertising and promotional activities due to the delayed timing of
the APQE and CPA exams.
General and administrative expenses from continuing operations
were US$2.3 million in the third
quarter of fiscal 2012, representing an 11.1% decrease
year-over-year. Non-GAAP[1] general and administrative
expenses from continuing operations were US$2.2 million, an increase of 6.4%
year-over-year primarily due to increased salaries and related
expenses and bad debts provision of accounts receivable aging over
one year. Such increase was partially offset by decreased
professional fees.
Income Tax Expenses. Income
tax expenses for the third quarter of fiscal 2012 were US$0.3 million, compared with US$0.3 million in the same period last year.
Net Income from continuing
operations attributable to China Distance Education
Holdings Limited. Net income from continuing operations was
US$1.11 million for the third quarter
of fiscal 2012, compared to net income from continuing operations
of US$1.10 million in the same period
last year. Non-GAAP[1] net income from continuing operations for
the third quarter of fiscal 2012 was US$1.2
million, compared to non-GAAP[1] net income from continuing
operations of US$2.9 million in the
same period last year.
Net Income (Loss) from discontinued
operations attributable to China Distance Education Holdings
Limited. Net income from discontinued operations was
US$0.2 million for the third quarter
of fiscal 2012, compared to net loss from discontinued operations
of US$0.2 million in the same period
last year.
Net Income. Net income was
US$1.3 million for the third quarter
of fiscal 2012, compared to net income of US$0.9 million in the same period last year.
Non-GAAP[1] net income for the third quarter of fiscal 2012 was
US$1.4 million, compared to non-GAAP
net income of US$2.7 million in the
same period last year.
Operating Cash Flow.Net operating cash
inflow for the third quarter of fiscal 2012 was US$2.2 million, compared to a net operating cash
inflow of US$0.8 million in the same
period last year. The increase was primarily the result of
increased net income generated in the quarter, increased deferred
revenue and refundable fee as more APQE and CPA exam revenue were
deferred to later quarters, increases in accrued expenses balance
and decreases in prepaid expenses balance. Such increase was
partially offset by the increase in accounts receivable and
deferred cost balances and the decrease in tax payables.
Cash and Cash Equivalents, Term Deposits and
Restricted Cash. Cash and cash equivalents, term
deposits and restricted cash as of June 30,
2012 amounted to US$55.6
million as compared to US$54.5
million as of March 31, 2012
primarily due to US$2.2 million of
cash flow generated from operating activities in the quarter,
partially offset by US$0.9 million of
capital expenditures, US$0.3 million
of remaining dividend payment and the repurchase of US$0.2 million worth of our shares as part of our
share repurchase program.
Fourth Quarter Fiscal
2012 Guidance - The Company
expects to generate total net revenues from continuing operations
for the fourth quarter of fiscal 2012 in the range of US$15.7 million to US$16.2 million, as compared
to net revenues from continuing operations of US$13.1 million in the fourth quarter of fiscal
2011, representing a 20% to 24% year-over-year increase. This
represents our current and preliminary view, which is subject to
change.
[1] For more information about the non-GAAP financial measures
contained in this press release, please see "Use of Non-GAAP
Financial Measures" below
Conference Call
China Distance Education Holdings Limited senior management will
host a conference call at 8:00 am
(Eastern) / 5:00 am (Pacific) /
8:00 pm (Beijing/Hong
Kong) on August 16, 2012 to
discuss its third fiscal quarter 2012 financial results and recent
business activity. The conference call may be accessed by
calling +1 866 519 4004 (US), 800 930 346 (Hong Kong), 800 819 0121 (China Land-line), 400 620 8038 (China Mobile),
or 0 808 234 6646 (UK). The pass code is CDEL.
A telephone replay will be available shortly after the call
until August 24, 2012 at +1 866 214
5335 (US), 800 901 596 (Hong
Kong), 10 800 714 0386 (China North), 10 800 140 0386
(China South), or 0 800 731 7846
(UK). The Pass code is 14846513.
A live webcast of the conference call and replay will be
available on the investor relations page of China Distance
Education Holdings Limited's website at:
http://ir.cdeledu.com/versions/Financials_en/EarningsAnnouncements_en.html
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 and
other course participants obtain and maintain the skills, licenses
and certifications necessary to pursue careers in China in the areas of accounting, law,
healthcare, construction engineering, and other industries. The
Company also offers online test preparation courses to self-taught
learners pursuing higher education diplomas or degrees and to
secondary school and college students preparing for various
academic and entrance exams. In addition, the Company offers online
foreign language courses and offline business start-up training
courses. 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,"
"anticipate," "future," "intend," "plan," "believe," "is/are likely
to," "estimate" and similar statements. Among other things, the
outlook for the fourth quarter of the fiscal year 2012 and the
quotations from management in this announcement, the impact on us
of the delayed timing of the APQE and CPA exams, as well as the
Company's strategic and operational plans, contain forward-looking
statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the SEC in
its annual report to shareholders, 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 online and offline
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 online and
offline 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 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 with the SEC. The Company does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law. All information provided in this press release and
in the attachments is as of the date of this press release.
Statement Regarding Unaudited Financial Information
The unaudited financial information set forth above 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 and impairment of purchased call option for acquisition of
additional equity interest in Zhengbao Yucai that may not be
indicative of its 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 and impairment of purchased call option for acquisition of
additional equity interest in Zhengbao Yucai 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
Lingling Kong, IR manager
Tel: +86-10-8231-9999 ext1805
Email: IR@cdeledu.com
|
Investor Relations
(HK):
Mahmoud Siddig, Managing Director
Taylor Rafferty
Tel: +852 3196 3712
Email: cdel@taylor-rafferty.com
|
|
|
Financial Tables Follow
China Distance
Education Holdings Limited
|
Unaudited
Consolidated Balance Sheets
|
(in thousands of US
Dollars, except number of shares and per share data)
|
|
|
|
|
|
|
|
|
September 30,
2011
|
|
June 30, 2012
|
|
|
|
|
|
|
Assets:
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
49,738
|
|
47,591
|
|
|
Term deposit
|
7,839
|
|
7,870
|
|
|
Restricted
cash
|
2,676
|
|
141
|
|
|
Accounts receivable, net
of allowance for doubtful accounts of
US$3,190 and US$3,536 as of September 30, 2011 and June
30,
2012, respectively
|
4,661
|
|
3,642
|
|
|
Inventories
|
363
|
|
800
|
|
|
Prepayment and other
current assets
|
2,861
|
|
3,798
|
|
|
Deferred tax assets,
current portion
|
1,556
|
|
1,829
|
|
|
Deferred cost
|
1,868
|
|
1,870
|
|
|
Current assets of
discontinued operations
|
2,306
|
|
-
|
|
|
Total
current assets
|
73,868
|
|
67,541
|
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
Property, plant and
equipment, net
|
8,586
|
|
9,730
|
|
|
Goodwill
|
7,403
|
|
7,432
|
|
|
Other intangible assets,
net
|
2,382
|
|
2,012
|
|
|
Deposit for purchase of
non-current assets
|
242
|
|
266
|
|
|
Deferred tax assets,
non-current portion
|
668
|
|
582
|
|
|
Other non-current
assets
|
729
|
|
1,112
|
|
|
Total
non-current assets
|
20,010
|
|
21,134
|
|
|
|
|
|
|
|
|
Total
assets
|
93,878
|
|
88,675
|
|
|
|
|
|
|
|
Liabilities and
equity:
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
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$5,738 and
US$7,988 as
of September 30, 2011 and June 30, 2012,
respectively)
|
6,514
|
|
8,586
|
|
|
Income tax payable
(including income tax payable of the consolidated
VIE without recourse to China Distance Education
Holdings Limited
of US$2,170 and US$2,155 as of September 30, 2011 and
June 30,
2012, respectively)
|
2,329
|
|
1,946
|
|
|
Deferred revenue
(including deferred revenue of the consolidated VIE
without recourse to China Distance Education Holdings
Limited of
US$7,848 and US$13,818 as of September 30, 2011 and
June 30,
2012, respectively)
|
7,861
|
|
13,856
|
|
|
Refundable fees
(including refundable fees of the consolidated VIE
without recourse to China Distance Education Holdings
Limited of
US$2,580 and US$3,032 as of September 30, 2011 and June
30,
2012, respectively)
|
2,580
|
|
3,032
|
|
|
Current liabilities of
discontinued operations (including current
liabilities of discontinued operations of the
consolidated VIE without
recourse to China Distance Education Holdings Limited
of US$1,860
and nil as of September 30, 2011 and June 30, 2012,
respectively)
|
1,860
|
|
-
|
|
|
Total
current liabilities
|
21,144
|
|
27,420
|
|
|
|
|
|
|
|
|
Total
liabilities
|
21,144
|
|
27,420
|
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
Ordinary shares (par
value of US$0.0001 per share at September 30,
2011 and June 30, 2012, respectively; Authorized -
480,000,000
shares at September 30, 2011 and June 30, 2012;
Issued and
outstanding - 127,800,673 and 135,376,737 shares at
September 30,
2011 and June 30, 2012, respectively)
|
13
|
|
14
|
|
|
Additional paid-in
capital
|
78,804
|
|
62,699
|
|
|
Accumulated other
comprehensive income
|
4,221
|
|
4,350
|
|
|
Cumulative
deficits
|
(10,304)
|
|
(5,808)
|
|
|
Total China Distance Education Holdings Limited
shareholders' equity
|
72,734
|
|
61,255
|
|
|
Total
equity
|
72,734
|
|
61,255
|
|
|
Total
liabilities and equity
|
93,878
|
|
88,675
|
|
|
|
|
|
|
|
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,
|
|
2011
|
|
2012
|
|
|
|
|
Sales, net of
business tax, value-added tax and related
surcharges:
|
|
|
|
|
Online education
services
|
8,936
|
|
9,349
|
|
Books and reference
materials
|
1,004
|
|
1,105
|
|
Others
|
2,206
|
|
2,674
|
|
Total
net revenues
|
12,146
|
|
13,128
|
|
|
|
|
|
Cost of
sales
|
|
|
|
|
Cost of
services
|
(4,475)
|
|
(5,653)
|
|
Cost of tangible goods
sold
|
(561)
|
|
(667)
|
|
Total
cost of sales
|
(5,036)
|
|
(6,320)
|
|
|
|
|
|
Gross
profit
|
7,110
|
|
6,808
|
|
|
|
|
Operating
expenses
|
|
|
|
|
Selling
expenses
|
(2,880)
|
|
(3,511)
|
|
General and
administrative expenses
|
(2,569)
|
|
(2,283)
|
|
Impairment of purchased
call option
|
(1,115)
|
|
-
|
|
Total
operating expenses
|
(6,564)
|
|
(5,794)
|
Other operating
income
|
589
|
|
16
|
|
|
|
|
|
Operating
income
|
1,135
|
|
1,030
|
|
|
|
|
Interest
income
|
211
|
|
318
|
Exchange gain
(loss)
|
(39)
|
|
20
|
|
|
|
|
|
Income before
income taxes
|
1,307
|
|
1,368
|
Less: Income tax
expense
|
(313)
|
|
(260)
|
Net income from
continuing operations
|
994
|
|
1,108
|
Net loss of continuing
operations attributable to noncontrolling interest
|
110
|
|
-
|
|
|
|
|
|
Net income
from continuing operations attributable to
China
Distance Education Holdings Limited
|
1,104
|
|
1,108
|
|
|
|
|
Net income (loss) from
discontinued operations attributable to China
Distance
Education Holdings Limited, net of tax (including disposal
gain)
|
(189)
|
|
220
|
|
|
|
|
Net income
attributable to China Distance Education Holdings
Limited
|
915
|
|
1,328
|
Net income (loss)
per share:
|
|
|
|
Net income (loss)
attributable to China Distance Education Holdings
Limited shareholders
|
|
|
|
|
Basic from continuing
operations
|
0.008
|
|
0.008
|
|
Basic from discontinued
operations
|
(0.001)
|
|
0.002
|
|
Basic
|
0.007
|
|
0.010
|
|
|
|
|
|
|
Diluted from continuing
operations
|
0.008
|
|
0.008
|
|
Diluted from
discontinued operations
|
(0.001)
|
|
0.002
|
|
Diluted
|
0.007
|
|
0.010
|
Net income (loss)
per ADS:
|
|
|
|
Net income (loss)
attributable to China Distance Education Holdings
Limited shareholders
|
|
|
|
|
Basic from continuing
operations
|
0.033
|
|
0.033
|
|
Basic from discontinued
operations
|
(0.005)
|
|
0.006
|
|
Basic
|
0.028
|
|
0.039
|
|
|
|
|
|
|
Diluted from continuing
operations
|
0.033
|
|
0.033
|
|
Diluted from
discontinued operations
|
(0.005)
|
|
0.006
|
|
Diluted
|
0.028
|
|
0.039
|
|
|
|
|
Weighted average
shares used in calculating net
income (loss)
per share:
|
|
|
|
|
Basic
|
132,437,686
|
|
135,517,710
|
|
Diluted
|
132,441,994
|
|
136,077,742
|
China Distance
Education Holdings Limited
|
Unaudited
Reconciliation of non-GAAP measures to comparable GAAP measures
from continuing operations
|
(In thousands of US
Dollars, except number of shares, per share and per ADS
data)
|
|
|
|
|
|
Three Months
Ended June 30
|
|
|
2011
|
|
2012
|
|
|
|
|
|
Cost of sales
|
|
5,036
|
|
6,320
|
Share-based compensation
expense in cost of sales
|
|
365
|
|
13
|
Non-GAAP cost of
sales
|
|
4,671
|
|
6,307
|
|
|
|
|
|
Selling
expenses
|
|
2,880
|
|
3,511
|
Share-based compensation
expense in selling expenses
|
|
132
|
|
10
|
Non-GAAP selling
expenses
|
|
2,748
|
|
3,501
|
|
|
|
|
|
General and
administrative expenses
|
|
2,569
|
|
2,283
|
Share-based compensation
expense in general and administrative expenses
|
|
499
|
|
81
|
Non-GAAP general and
administrative expenses
|
|
2,070
|
|
2,202
|
|
|
|
|
|
Gross profit
|
|
7,110
|
|
6,808
|
Share-based compensation
expenses
|
|
365
|
|
13
|
Non-GAAP gross
profit
|
|
7,475
|
|
6,821
|
|
|
|
|
|
Gross profit
margin
|
|
58.5%
|
|
51.9%
|
Non-GAAP gross profit
margin
|
|
61.5%
|
|
52.0%
|
|
|
|
|
|
Operating
income
|
|
1,135
|
|
1,030
|
Share-based compensation
expenses
|
|
996
|
|
104
|
Impairment of purchased
call option
|
|
1,115
|
|
-
|
Non-GAAP operating
income
|
|
3,246
|
|
1,134
|
|
|
|
|
|
Operating
margin
|
|
9.3%
|
|
7.8%
|
Non-GAAP operating
margin
|
|
26.7%
|
|
8.6%
|
|
|
|
|
|
Net income attributable
to China Distance Education Holdings Limited
|
|
1,104
|
|
1,108
|
Share-based compensation
expenses
|
|
996
|
|
104
|
Impairment of purchased
call option (net, tax effect US$279)
|
|
836
|
|
-
|
Non-GAAP net income
attributable to China Distance Education Holdings
Limited
|
|
2,936
|
|
1,212
|
|
|
|
|
|
Net income margin
attributable to China Distance Education Holdings
Limited
|
|
9.1%
|
|
8.4%
|
Non-GAAP net income
margin attributable to China Distance Education Holdings
Limited
|
|
24.2%
|
|
9.2%
|
|
|
|
|
|
Net income per
share-basic
|
|
0.008
|
|
0.008
|
Net income per
share-diluted
|
|
0.008
|
|
0.008
|
Non-GAAP net income per
share-basic
|
|
0.022
|
|
0.009
|
Non-GAAP net income per
share-diluted
|
|
0.022
|
|
0.009
|
|
|
|
|
|
Net income per ADS
attributable to China Distance Education Holdings Limited
shareholders-basic (note 1)
|
|
0.033
|
|
0.033
|
Net income per ADS
attributable to China Distance Education Holdings Limited
shareholders-diluted (note 1)
|
|
0.033
|
|
0.033
|
Non-GAAP net income per
ADS attributable to China Distance Education Holdings Limited
shareholders-basic (note 1)
|
|
0.089
|
|
0.036
|
Non-GAAP net income per
ADS attributable to China Distance Education Holdings Limited
shareholders-diluted (note 1)
|
|
0.089
|
|
0.036
|
|
|
|
|
|
Weighted average shares
used in calculating basic net income per share
|
|
132,437,686
|
|
135,517,710
|
Weighted average shares used in calculating diluted net income per share
|
|
132,441,994
|
|
136,077,742
|
Weighted average shares
used in calculating basic non-GAAP net income per share
|
|
132,437,686
|
|
135,517,710
|
Weighted average shares
used in calculating diluted non-GAAP net income per
share
|
|
132,441,994
|
|
136,077,742
|
|
|
|
|
|
Note 1: Each ADS represents four ordinary shares
SOURCE China Distance Education Holdings Limited