Noah CEO Discusses Q4 2010 Results - Earnings Call Transcript
The LNS and Wentai businesses put us in a good position in China’s education services space, and we are committed to further solidifying this position through the acquisition of additional complimentary business going forward.
Although, we have encountered various challenges in recent months, I believe we have a sound strategy in place, as well as management team committed to stabilizing our business and restoring growth. We are focused on the stabilization of our ELP business and believe the measures we have taken thus far will lead to a recovery.
At the same time, we understand the dynamics of the increasingly competitive and maturing ELP industry, and as such, we are actively working to extract and drive growth from our education services business, which continues to show robust growth prospect as a highly resilient and visibility industry and offers attractive margin profile.
With that, I will now turn the call over to Dora Li to walk you through our financial performance for the quarter.Dora LiThank you, Chairman. As you’ve seen from our release, net revenue in the fourth quarter declined 71.9% year-over-year to RMB33.5 million, as we experienced disruptions from our distribution channel realignment in each area, and we saw increase competitive pressure in the ELP space.Our actual revenue for the fourth quarter was also below our estimated revenue figure reported on July 26th due to returns recorded from discontinued distributors.DLD sales were hardest hit by these disruptions and by the increasing competition in student’s notebook. And as a result, net revenue in this segment declined to RMB0.08 million.KLD sales fell 87.9% to RMB4 million and E-dictionary revenue declined 40.2% to RMB18.9 million. E-dictionary sales held up comparatively well due to revenue we received from ODM contracts from our partnership with Franklin Electronic Publishers.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV