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

CIBT Reports Fiscal Year 2012 Financial Results

Stocks in this article: MBA

Reference should be made to the Company’s annual consolidated financial statements and management’s discussion and analysis which can be viewed under the Company’s profile on SEDAR at http://www.sedar.com.

“Fiscal 2012 was a year of significant turnaround for CIBT Group. The result placed us on a strong and positive trajectory with steady and solid growth. We transformed our various subsidiaries into leaner organizations with the ability to adapt to the declining economic environment,” commented Toby Chu, President, CEO, and Vice Chairman of CIBT Education Group Inc. “While we are pleased with our 5 year revenue growth from US$8.2 million in F2007 to CAD$58.0 million in F2012, both organically and through our acquisitions, we continue to be vigilant on our operating cost structure. Our Adjusted Net Income of $1.20 million speaks volumes about management’s relentless efforts to perform better with less resources. This yielded a steady revenue base but significant reduction of operating expenses from $32.9 million in F2011 to $29.6 million in F2012, a saving of $3.3 million or 10%. Our cash or cash equivalent position as at August 31, 2012 increased to $8.0 million from $6.5 million as at August 31, 2011, an increase of 23%. Our long term debt was $1.6 million as of August 31, 2012, a decline of $0.6 million (27%) from the same day last year and we expect this trend will continue on a yearly basis. This strong cash position and minimal debt ratio will allow us to act swiftly on appealing acquisition opportunities as they are identified.

It is also important to note that while the Company enjoyed a significant turn-around of its financial performance, the Company also maintained its vision of growth through global expansion. The reason revenue was relatively flat in Fiscal 2012, instead of suffering a decline as commonly seen with other industry participants as a result of the economic climate, is attributable to the growth in the number of international students at KGIC and Sprott-Shaw, which was achieved through CIBT Group’s effort to expand its recruitment networks and organize joint marketing efforts with all of its subsidiary schools, particularly in China, Korea and the Middle East. As such, the KGIC business, which has an exclusively international student base, grew by 10% (or $2.1 million) and the Sprott-Shaw international student business grew by 52% (or $2.6 million). CIBT Group is further investing in the global education sector by deploying our effective and practical Global Learning Network (”GLN”). GLN is a professional grade, fully interactive video conference delivery platform of educational content with broadcasting studios and receiving classrooms located around the world.

2 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!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

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