This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Xueda Education Group Announces Second Quarter 2011 Financial Results

Stocks in this article: XUE

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 second quarter of 2011.

Second Quarter 2011 Highlights

  • Total net revenue for the second quarter 2011 increased by 52.6% year-over-year to $71.6 million from $47.0 million for the second quarter of 2010.
  • Gross profit for the second quarter 2011 increased by 46.4% year-over-year to $29.0 million from $19.8 million for the second quarter of 2010.
  • Income from operations for the second quarter of 2011 increased by 75.7% year-over-year to $15.6 million from $8.9 million for the second quarter of 2010.
  • Net income for the second quarter of 2011 increased by 80.2% year-over-year to $15.1 million from $8.4 million for the second quarter of 2010.
  • Total number of learning centers increased to 256, covering 61 cities, as of the end of the second quarter of 2011, up from 218 learning centers covering 54 cities as of the end of the previous quarter. As of the end of the second quarter of 2010, total number of learning centers was 157, covering 44 cities.
  • Course hours delivered in the second quarter of 2011 increased by 38.1% year-over-year to 2.9 million hours from 2.1 million hours for the second quarter of 2010.
  • Total number of students served in the second quarter of 2011 increased by 50.7% year-over-year to approximately 66,340 students from approximately 44,020 students for the second quarter of 2010.
  • Average hourly course fee in the second quarter of 2011 increased by 10.9% year-over-year to $26.2 from $23.6 in the second quarter of 2010.

Commenting on the results, Mr. Xin Jin, co-founder and Chief Executive Officer of Xueda, stated, “We are very gratified by the results of the second quarter. Our business model is returning strong results while at the same time delivering a superior educational experience to our students. A survey of thousands of our students who took the college entrance exams this year indicates that 95% of students surveyed were admitted to universities and colleges in China, and with such success it is no wonder that Xueda was selected to act as the organizer of the 2011 International Conference on Personalized Education that was held last week in Beijing. We have established Xueda as the premier provider of personalized education in China, and we intend to continue to grow through expansion of our learning center network, new offerings to students and developing our online presence. We think the future is very bright for our company.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs