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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Xueda Education Group Announces Second 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 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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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