Dora Li, our CFO will walk you through our financial and operational performance as well as guidance for the next quarter. Dora, please.
Thank you Mr. Xu. As Mr. Xu just mentioned, we are very pleased to see more continued strong momentum into the second quarter of fiscal 2012 with both top line and bottom line showing strengths. Turning to the detailed financial results for the second quarter of fiscal year 2012, as they are available in our earnings release, I would like to highlight a few key financial metrics with you. All numbers will be in RMB unless otherwise stated.
On slide four, net revenue for the quarter was up 113% year-over-year. The strong growth was mainly driven by organic developments of existing Wentai Education and Little New Star businesses, and a full-quarter revenue contribution from Yuanbo Education. If you recall, Yuanbo Education only started to contribute to our top line in August during our July to September quarter.The revenue growth was higher than our guidance and was also partly due to the fact that the forecast is not factored in 1Q revenues as it only finalized all items in the second quarter. For the quarter, Wentai accounted for 54% of net revenues. Little New Star accounted for 23% and Yuanbo 22%. On slide five, starting this quarter we will report our revenue in terms of business services namely, kindergarten, primary and secondary schools and supplemental education. Revenues from the kindergarten services this quarter was RMB23 million, up 315% year-over-year, accounting for 50% of net revenue. Revenues from primary and the secondary school services was RMB15 million, up 57% year-over-year, and accounted for 33% of net revenues. Revenues from supplemental education services was RMB7 million, up 21% year-over-year and accounted for about 17% of net revenue. Read the rest of this transcript for free on seekingalpha.com
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts