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TAL Education's profit down 38.6% in Q3 2012

Jan. 20, 2012 (China Knowledge) - TAL Education Group<XRS>, a Beijing-based education pioneer, earned US$1.4 million in net profit attributable to shareholders in the third quarter of fiscal year 2012 ended Nov. 30, 2011, reflecting a year-on-year decline of 38.6% from US$2.3 million.

On a non-GAAP basis, the U.S.-listed firm's net profit attributable to shareholders decreased by 32.2% year on year from US$4.3million to US$2.9 million.

In the third quarter of fiscal year 2012, the company's basic and diluted earnings per America Depositary Share were US$0.02, while non-GAAP basic and diluted earnings per ADS were US$0.04.

The Chinese education service provider reaped US$40.7 million in operating revenue in the quarter ended Nov. 30, 2011, soaring 69% year on year from US$24.1 million.

At the end of last November, TAL Education had US$168.3 million in cash, whereas it had US$173.2 million in cash as of Feb. 28, 2011.

The company also expects its operating revenue for the fourth quarter of fiscal year 2012 to be in the range of US$48.1 million to US$49.8 million, representing an increase of 43% to 48% from a year earlier.

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