This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Xueda Education Group Announces First Quarter 2011 Financial Results

Xueda Education Group (NYSE: XUE) (“Xueda” or the “Company”), the leading national provider of tutoring services for primary and secondary school students in China with a focus on offering personalized tutoring services, today announced its unaudited financial results for the first quarter of 2011.

First Quarter 2011 Highlights
  • Total net revenue for the first quarter 2011 increased by 64.2% year-over-year to $50.8 million from $30.9 million for the first quarter of 2010.
  • Gross profit for the first quarter 2011 increased by 67.4% to $17.2 million from $10.3 million for the first quarter of 2010.
  • Gross margin increased to 33.9% in the first quarter of 2011 from 33.2% for the first quarter of 2010.
  • Income from operations in the first quarter of 2011 increased by 58.9% to $5.8 million from $3.7 million for the first quarter of 2010.
  • Net income for the first quarter of 2011 increased by 71.0% to $5.9 million from $3.4 million for the first quarter of 2010.
  • Non-GAAP 1 net income for the first quarter of 2011 increased by 83.9% to $6.5 million from $3.5 million for the first quarter of 2010.
  • Total number of learning centers increased to 218, covering 54 cities, as of the end of the first quarter of 2011, up from 207 centers covering 53 cities as of the end of the previous quarter.
  • Course hours delivered in the first quarter of 2011 increased by 50.1% year-over-year to 2.2 million hours.
  • Total number of students served in the first quarter of 2011 increased by 54.3% year-over-year to approximately 56,700.
  • Average hourly course fee increased to $24.7 in the first quarter of 2011 from $22.5 in the first quarter of 2010.

Mr. Xin Jin, co-founder and Chief Executive Officer of Xueda, commented, “We are very pleased that our first quarter revenues once again exceeded our previously stated guidance for the quarter, as we continue to see strong demand for our differentiated, one-on-one tutoring services and benefit from our strong brand and nationwide network. We anticipate rapid growth to meet this strong demand, while at the same time we will continue to improve our service quality and brand recognition. Our performance in the first quarter continues to demonstrate that we can improve efficiency while quickly expanding the scale of our operations. Xueda has established a nationwide network, a highly recognized brand and unmatched expertise in the tutoring market, and we intend to leverage these advantages to continue our strong growth.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs