Noah Education Holdings, Ltd. F3Q10 (Qtr End 03/31/2010) Earnings Call Transcript
I would now like to turn the call over to Noah's Chairman and CEO, Mr. Dong Xu.
[Interpreted] Good morning, and to some, good evening. Thank you for joining us today for our third quarter 2010 results conference call.
As you would have seen from our earnings release, we delivered another quarter of healthy growth, with revenues increasing 18.3% year-over-year, gross profit up 9.5% and net income climbing 4.9%. This growth was mainly supported by more than 100% growth in our kids learning device sales and a strong performance by our Little New Star school system.Although total net revenue for the quarter did not reach our initially guided range, our business remains very healthy and we are pleased to have expanded our track record of delivering consistent growth. We remain confident in our long-term opportunities and potential and believe our ongoing strategic initiative will help us maintain our growth trajectory. As we approach the end of our 2010 fiscal year, I am pleased with our progress on both the operational and the financial front. In recent quarters, we have taken clear steps to expand our business both organically and equivocally. Within our ELP business, we have introduced a customer-focused product development and marketing strategy through which we remain arduously focused on developing products that will successfully meet the design, functionality and content needs of our customers. We are confident this strategy will allow us to remain competitive and maintain ELP revenue growth. In addition to our focus on maintaining growth in our ELP business, we remain committed to accelerating acquisitive growth within China's education services space as evidenced this quarter by the acquisition of Wentai Education. We view education services as our main growth driver going forward, and will continue to actively pursue accretive acquisitions within this segment.
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