Xueda Education Group Reports Fourth Quarter and Full Year 2012 Financial Results

  Xueda Education Group Reports Fourth Quarter and Full Year 2012 Financial
                                   Results

Company Beats Fourth Quarter and Full Year Guidance

Fourth Quarter 2012 Net Revenue of $59.6 Million Increased by 24.9%
Year-Over-Year

Full Year 2012 Net Revenue of $293.2 Million Increased by 32.2% Year-Over-Year

Expects First Quarter 2013 EPADS Growth of 50.0% to 100.0% Year-Over-Year

PR Newswire

BEIJING, Feb. 27, 2013

BEIJING, Feb. 27, 2013 /PRNewswire/ -- Xueda Education Group (NYSE: XUE)
("Xueda" or the "Company"), a 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 fourth quarter and fiscal year 2012 ended December 31, 2012.

Fourth Quarter 2012 Quick View

  oTotal net revenue for the fourth quarter of 2012 increased by 24.9%
    year-over-year to $59.6 million from $47.8 million for the fourth quarter
    of 2011.
  oGross profit for the fourth quarter of 2012 increased by 28.2%
    year-over-year to $8.9 million from $6.9 million for the fourth quarter of
    2011.
  oNet loss attributable to Xueda Education Group for the fourth quarter of
    2012 decreased to $8.1 million from $9.9 million for the fourth quarter of
    2011.
  oDiluted net loss attributable to Xueda Education Group per American
    Depositary Share ("ADS") was $0.12 for the fourth quarter of 2012,
    compared to $0.15 for the fourth quarter of 2011.
  oCash, cash equivalents and short-term investments as of December 31, 2012
    increased to $239.2 million from $225.7 million as of December 31, 2011.

Full Year 2012 Quick View

  oTotal net revenue for full year 2012 increased by 32.2% year-over-year to
    $293.2 million from $221.7 million for full year 2011.
  oGross profit for full year 2012 increased by 12.2% year-over-year to $73.5
    million from $65.5 million for full year 2011.
  oNet income attributable to Xueda Education Group for full year 2012 was
    $2.0 million, compared to $4.8 million for full year 2011.
  oDiluted net income attributable to Xueda Education Group per ADS was $0.03
    for full year 2012, compared to $0.07 for full year 2011.
  oCourse hours[1] delivered per square meter of learning centers for full
    year 2012 decreased by 15.3% year-over-year to 36.7 hours from 43.3 hours
    for full year 2011.
  oTotal number of students served for full year 2012 increased by 18.6%
    year-over-year to 138,688 students from 116,900 students for full year
    2011.
  oTotal number of learning centers was 383 as of December 31, 2012, up from
    295 learning centers as of December 31, 2011.

Commenting on the results, Mr. Xin Jin, co-founder and Chief Executive Officer
of Xueda, stated, "I am glad to see that our fourth quarter net revenue
exceeded the high-end of our previous guidance, continuing the trend of solid
revenue growth in each and every quarter of 2012. With a total net increase of
88 learning centers, I believe we successfully achieved our primary goal for
2012, which enables us to continue to grow organically going forward. For
2013, our key focus is to expand our gross margins and achieve healthy net
profits. Based on our strong competitive position, we are confident that we
can achieve those objectives."

"In the past 12 years, Xueda has been focusing on personalized tutoring and
has successfully deployed it through the one-on-one format. Instead of being
an exam-focused educator, we have differentiated ourselves by being a
people-focused educator and helping our students achieve not only academic
success but also personal growth." Mr. Jin concluded.

Ms. Christine Lu-Wong, Chief Financial Officer of Xueda, added, "I'm very
pleased that the more I learn about the Company, the more I'm convinced that
Xueda now has the foundation in place that will enable us to fully leverage
our leading brand and reach to grow not only our revenue but also our
profitability. As such, despite a currently common perception that the
personalized tutoring business model is not scalable, I'm confident that our
2013 financial results will prove that Xueda and its personalized tutoring
business model can effectively scale and achieve sustainable profits."

Fourth Quarter 2012 Financial and Operating Results

Total Net Revenue

Total net revenue in the fourth quarter of 2012 increased by 24.9%
year-over-year to $59.6 million from $47.8 million in the fourth quarter of
2011. $8.5 million, or 71.9%, of the increase in net revenue was contributed
by the increase in course hours delivered and the remaining $3.3 million, or
28.1%, of the increase was contributed by the increase in the average hourly
course fee from the same period of last year to the fourth quarter of 2012.

  oTotal number of students served in the fourth quarter of 2012 increased by
    15.7% year-over-year to 61,887 students from 53,489 students in the fourth
    quarter of 2011. Course hours delivered in the fourth quarter of 2012
    increased by 16.5% year-over-year to 2.1 million hours from 1.8 million
    hours in the fourth quarter of 2011.
  oAverage hourly course fee in the fourth quarter of 2012 increased by 5.5%
    year-over-year to $28.6 from $27.1 in the fourth quarter of 2011.

Cost of Revenue

Cost of revenue in the fourth quarter of 2012 increased by 24.3%
year-over-year to $50.7 million from $40.8 million in the fourth quarter of
2011. This increase was primarily due to an increase of $6.0 million in
teaching staff cost and an increase of $3.7 million in rental cost and
depreciation cost.

  oTeaching staff cost accounted for 58.5% of total net revenue in the fourth
    quarter of 2012, compared to 60.6% in the fourth quarter of 2011.
    Full-time headcount of teaching staff totaled 13,210, including 9,517
    instructors, 2,096 education consultants and 1,597 study counselors, as of
    December 31, 2012.
  oRental and depreciation accounted for 23.0% of total net revenue in the
    fourth quarter of 2012, compared to 20.9% in the fourth quarter of 2011.

Gross Profit and Gross Margin

Gross profit in the fourth quarter of 2012 increased by 28.2% year-over-year
to $8.9 million from $6.9 million in the fourth quarter of 2011. Gross margin
in the fourth quarter of 2012 was 14.9%, compared to 14.5% in the fourth
quarter of 2011. The 40 basic points improvement in gross margin was mainly
attributable to enhanced efficiency of learning centers and teaching staff,
partially offset by higher rental and depreciation cost.

  oCourse hours delivered per full-time instructor in the fourth quarter of
    2012 increased by 2.0% year-over-year to 208 hours from 204 hours in the
    fourth quarter of 2011.
  oCourse hours delivered per square meter of learning centers were 7.4 hours
    for both the fourth quarter of 2012 and the fourth quarter of 2011.

Operating Expenses

Total operating expenses increased slightly to $19.7 million in the fourth
quarter of 2012, compared to $18.5 million in the same period of 2011. Total
operating expenses accounted for 33.1% of total net revenue in the fourth
quarter of 2012, compared to 38.7% a year ago, reflecting effective cost
controls and higher operating leverage.

General and administrative expenses of $13.0 million in the fourth quarter of
2012 improved to 21.7% of total net revenue, compared to 23.4% a year ago, due
to effective cost controls. Selling and marketing expenses of $6.8 million in
the fourth quarter of 2012 improved to 11.3% of total net revenue, compared to
15.3% a year ago, benefiting from the use of more effective marketing
channels.

Operating Loss

Loss from operations in the fourth quarter of 2012 was $10.7 million, compared
to $11.3 million for the fourth quarter of 2011. Non-GAAP loss from operations
for the fourth quarter in 2012 was $9.9 million, compared to $10.7 million for
the fourth quarter of 2011.

Net Loss and Net Loss per ADS

Net loss attributable to Xueda Education Group for the fourth quarter of 2012
was $8.1 million, compared to $9.9 million in the fourth quarter of 2011.
Diluted net loss attributable to Xueda Education Group per ADS for the fourth
quarter of 2012 was $0.12, compared to $0.15 for the fourth quarter of 2011.

Non-GAAP net loss[2] attributable to Xueda Education Group for the fourth
quarter of 2012 was $7.3 million, compared to $9.3 million for the fourth
quarter of 2011. Non-GAAP diluted net loss attributable to Xueda Education
Group per ADS for the fourth quarter of 2012 was $0.11, compared to $0.14 for
the fourth quarter of 2011.

Fiscal Year 2012 Financial and Operating Results

Total Net Revenue

Total net revenue in 2012 increased by 32.2% year-over-year to $293.2 million
from $221.7 million in 2011. $45.6 million, or 63.8%, of the increase in net
revenue was contributed by the increase in course hours delivered and the
remaining of the increase $25.9 million, or 36.2%, of the increase was
contributed by the increase in the average hourly course fee from 2011.

  oTotal number of students served in 2012 increased by 18.6% year-over-year
    to 138,688 students from 116,900 students in 2011. Course hours delivered
    in 2012 increased by 17.6% year-over-year to 10.6 million hours from 9.0
    million hours in 2011.
  oAverage hourly course fee in 2012 increased by 8.5% year-over-year to
    $28.0 from $25.8 in 2011.

Cost of Revenue

Cost of revenue in 2012 increased by 40.6% year-over-year to $219.7 million
from $156.2 million in 2011. This increase was primarily due to an increase of
$41.2 million in teaching staff cost and an increase of $17.8 million in
rental cost and depreciation cost.

  oTeaching staff accounted for 53.6% of total net revenue in 2012, compared
    to 52.3% in 2011.
  oRental and depreciation accounted for 17.5% of total net revenue in 2012,
    compared to 15.2% in 2011.

Gross Profit and Gross Margin

Gross profit in 2012 increased by 12.2% year-over-year to $73.5 million from
$65.5 million in 2011. Gross margin in 2012 was 25.1%, compared to 29.5% in
2011. The decrease in gross margin was primarily attributable to the higher
cost in teaching staff, rental and other costs related to new-opened learning
centers.

  oCourse hours delivered per full-time instructors in 2012 increased by 6.8%
    year-over-year to 975 hours from 913 hours in 2011.
  oCourse hours delivered per square meter of learning centers for full year
    2012 decreased by 15.3% year-over-year to 36.7 hours in 2012 from 43.3
    hours in 2011.

Operating Expenses

Total operating expenses was $77.8 million in 2012, compared to $62.4 million
in 2011. Total operating expenses accounted for 26.5% of total net revenue in
2012, compared to 28.1% a year ago, benefitting from effective cost controls
and higher operating leverage.

General and administrative expenses of $46.4 million in 2012 improved to 15.8%
of total net revenue, compared to 16.4% a year ago, due to effective cost
controls. Selling and marketing expenses of $31.3 million in 2012 improved to
10.7% of total net revenue, compared to 11.7% a year ago.

Operating Loss

Loss from operations in 2012 was $4.1 million, compared to income from
operations of $3.5 million in 2011. Non-GAAP loss from operations in 2012 was
$0.9 million, compared to Non-GAAP income from operations of $7.6 million in
2011.

Net Income and Net Income per ADS

Net income attributable to Xueda Education Group in 2012 was $2.0 million,
compared to $4.8 million in 2011. Diluted net income attributable to Xueda
Education Group per ADS in 2012 was $0.03, compared to $0.07 in 2011.

Non-GAAP net income attributable to Xueda Education Group in 2012 was $5.1
million, compared to $8.9 million in 2011. Non-GAAP diluted net income
attributable to Xueda Education Group per ADS in 2012 was $0.08, compared to
$0.13 in 2011.

Balance Sheet

As of December 31, 2012, the Company had cash and cash equivalents plus
short-term investments totaling $239.2 million, compared to $225.7 million as
of December 31, 2011.

Deferred revenues were $133.8 million as of December 31, 2012, compared to
$101.4 million as of December 31, 2011.

Business Outlook

For the first quarter of 2013, the Company currently expects:

  oNet revenue to be in the estimated range of $79.0 million to $80.0
    million, an increase of 17.6% to 19.0% from the same quarter of the
    previous year.
  oNon-GAAP diluted net income attributable to Xueda Education Group per ADS
    to be in the estimated range of $0.03 to $0.04, an increase of 50.0% to
    100.0% from the same quarter of the previous year. This estimate assumes
    an effective income tax rate of 25% and weighted average ADSs of 65.8
    million.

For the full year 2013, the Company currently expects:

  oNet revenue to be in the estimated range of $342.0 to $352.0 million, an
    increase of 16.6% to 20.0% from the previous year.

This guidance is based on the current market conditions and reflects the
Company's current and preliminary estimates of market and operating conditions
and customer demand, which are all subject to change.

[1] Definition of "course hour" in this press release refer to 60-minute of
    tutoring.
    All non-GAAP measures exclude share-based compensation expenses. For
[2] further details on non-GAAP measures, please refer to the reconciliation
    tables and a detailed discussion of the Company's use of non-GAAP
    information set forth elsewhere in this press release.

Non-GAAP Financial Measures

To supplement the financial measures calculated in accordance with U.S. GAAP,
this press release includes certain non-GAAP financial measures of adjusted
net income and adjusted diluted earnings per ADS, each of which is adjusted to
exclude share-based compensation expenses. The Company believes excluding such
expenses from its non-GAAP financial measures is useful for its management and
investors to assess and analyze the Company's core operating results as such
expenses are not directly attributable to the underlying performance of the
Company's business operations and do not impact its cash earnings. The Company
also believes that these non-GAAP financial measures are important to help
investors understand the Company's current financial performance and future
prospects and compare business trends among different reporting periods on a
consistent basis. These non-GAAP financial measures should be considered in
addition to financial measures presented in accordance with U.S. GAAP, but
should not be considered as a substitute for, or superior to, financial
measures presented in accordance with U.S. GAAP. For a reconciliation of each
of these non-GAAP financial measures to the most directly comparable U.S. GAAP
financial measure, please see the financial information included elsewhere in
this press release.

Conference Call

Xueda will hold a conference call and live webcast at 7:00 p.m. EST on
Wednesday, February 27, 2013 (which corresponds to 8:00 a.m. Beijing/Hong Kong
Time on Thursday, February 28, 2013) to discuss the results and answer
questions from investors. Listeners may access the call by dialing:

US Toll Free:            +1-866-519-4004
US Toll/International:   +1-718-354-1231
Hong Kong Toll Free:     800-930-346
Hong Kong Toll:          852-2475-0994
China Toll Free          800-819-0121
China Toll Free (Mobile) 400-620-8038
Conference ID:           86635188

The conference call will be available live via webcast on the Investors
section of Xueda's website at http://ir.xueda.com. The archive replay will be
available on Xueda's website shortly after the call.

A replay of the conference call may be accessed through March 7, 2013 by
dialing:

United States Toll Free: +1-855-452-5696
International:           +61-2-8199-0299
Conference ID:           86635188

Forward-looking Statements

All statements included in this press release, other than statements or
characterizations of historical fact, are forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on our current expectations, market
and operating conditions, estimates and projections about our industry,
management's beliefs, and certain assumptions made by us, all of which are
subject to change. Forward-looking statements can often be identified by words
such as "anticipates," "expects," "intends," "plans," "predicts," "believes,"
"seeks," "estimates," "may," "will," "should," "would," "could," "potential,"
"continue," "ongoing," "targets" and similar expressions, and variations or
negatives of these words. These forward-looking statements are not guarantees
of future results and are subject to risks and uncertainties beyond our
control, which could cause our actual results to differ materially and
adversely from those expressed in any forward-looking statement. Further
information regarding these and other risks, uncertainties or factors is
included in our filings with the U.S. Securities and Exchange Commission. We
do not undertake any obligation to update any forward-looking statement as a
result of new information, future events or otherwise, except as required
under applicable law.

About Xueda Education Group

Xueda Education Group ("Xueda") is a leading national provider of tutoring
services for primary and secondary school students in China with a focus on
offering personalized tutoring services. For more information about Xueda,
please visit ir.xueda.com.

Contact:

Xueda Education Group
Sophia Zhou
Tel: +86-10-6427-8899 ext. 6619
Email: zhouqi_1@xueda.com

Asia Bridge Capital Limited
Wendy Sun
Tel: +86-10-8556-9033 (China)
+1-888-550-8392 (U.S.)
Email: wendy.sun@asiabridgegroup.com

Xueda Education Group
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands of US Dollars)
                                                 As of
                                                 December 31,   December 31,
                                                 2012           2011
                                                                (Note)
Current assets:
Cash and cash equivalents                        $211,944       $217,746
Short-term investments                           27,287         7,944
Prepaid expenses and other current assets        12,911         18,645
Amounts due from related parties                 1,592          43
Deferred tax assets-current                      4,335          3,618
Total current assets                             258,069        247,996
Property and equipment, net                      40,616         35,613
Acquired intangible assets, net                  563            -
Rental deposits                                  4,493          3,787
Goodwill                                         3,729          863
Available-for-sale securities                    5,125          -
Other non-current assets                         4,831          1,576
Total assets                                     $317,426       $289,835
Liabilities and shareholders' equity
Current liabilities:
Deferred revenues-current (including deferred
revenues of the consolidated VIE without
recourse to the Company of $105,027 and $79,095  105,027        79,095
as of December 31, 2012 and December 31, 2011,
respectively)
Accrued expenses and other current liabilities
(including accrued expenses and other current
liabilities of the consolidated VIE without      26,318         21,733
recourse to the Company of $24,212 and $19,145
as of December 31, 2012 and December 31, 2011,
respectively)
Dividends payable (including dividends payable
of the consolidated VIE without recourse to the  22,665         -
Company of $nil and $nil as of December 31, 2012
and December 31, 2011, respectively)
Income taxes payable (including income taxes
payable of the consolidated VIE without recourse
to the Company of $4,583 and $4,047 as of        4,329          4,047
December 31, 2012 and December 31, 2011,
respectively)
Deferred income-current (including deferred
income of the consolidated VIE without recourse  347            371
to the Company of $nil and $nil as of December
31, 2012 and December 31, 2011, respectively)
Total current liabilities                        158,686        105,246
Deferred revenues-noncurrent (including deferred
revenues of the consolidated VIE without
recourse to the Company of $28,765 and $22,309   28,765         22,309
as of December 31, 2012 and December 31, 2011,
respectively)
Deferred income-noncurrent (including deferred
income of the consolidated VIE without recourse  607            929
to the Company of $nil and $nil as of December
31, 2012 and December 31, 2011, respectively)
Deferred tax liabilities-noncurrent (including
deferred tax liabilities of the consolidated VIE
without recourse to the Company of $141 and $nil 141            -
as of December 31, 2012 and December 31, 2011,
respectively)
Total liabilities                                188,199        128,484
Total Xueda Education Group's equity             127,864        161,351
Noncontrolling interests                         1,363          -
Total equity                                     129,227        161,351
Total liabilities and equity                     $317,426       $289,835
Note: The above financial information as of and for the year ended December
31, 2011 is derived from Xueda Education Group's audited financial statements
for the year ended December 31, 2011.

Xueda Education Group
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands of US Dollars, except number of ADSs and per ADS data)
                             Three Months Ended December Twelve Months Ended
                             31,                         December 31,
                             2012          2011          2012       2011
Net revenues                 $59,630       $47,750       $293,157   $221,738
Cost of revenues             (50,737)      (40,814)      (219,655)  (156,222)
Gross profit                 8,893         6,936         73,502     65,516
Operating expenses
General and administrative   (12,953)      (11,156)      (46,427)   (36,425)
Selling and marketing        (6,760)       (7,303)       (31,336)   (25,940)
Total operating expenses     (19,713)      (18,459)      (77,763)   (62,365)
Government subsidies         137           201           164        357
(Loss) Income from           (10,683)      (11,322)      (4,097)    3,508
operations
Interest income              1,772         1,491         6,722      3,766
(Loss) Income before income  (8,911)       (9,831)       2,625      7,274
tax expenses
Income tax benefit (expense) 687           (64)          (876)      (2,484)
Net (loss) income            (8,224)       (9,895)       1,749      4,790
Less: Noncontrolling         (130)         -             (216)      -
interests, net of taxes
Net (loss) income
attributable to Xueda        (8,094)       (9,895)       1,965      4,790
Education Group
Net (loss) income
attributable to Xueda
Education Group per ADS:
Net (loss) income
attributable to Xueda
Education Group
Basic                        (0.12)        (0.15)        0.03       0.07
Diluted                      (0.12)        (0.15)        0.03       0.07
Weighted average ADS numbers
used in calculating net
(loss) income attributable
to Xueda Education Group per
ADS:
Basic                        65,049,506    67,847,771    65,658,002 68,872,588
Diluted                      65,049,506    67,847,771    65,888,103 71,134,457

Xueda Education Group
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands of US Dollars )
                               Three Months Ended December Twelve Months Ended
                               31,                         December 31,
                               2012           2011         2012      2011
Net (loss) income              $(8,224)       $(9,895)     $1,749    $4,790
Other comprehensive income,    140            (82)         250       118
net of tax:
Foreign currency translation adjustments
Unrealized holding gain on
investment in                  307            -            339       -
available-for-sale securities,
net of tax
Total comprehensive (loss)     (7,777)        (9,977)      2,338     4,908
income
Less: comprehensive loss
attributable to                (126)          -            (208)     -
non-controlling interest
Total comprehensive (loss)
income attributable to Xueda   $(7,651)       $(9,977)     $2,546    $4,908
Education Group

Xueda Education Group
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHARE-BASED COMPENSATION
(In thousands of US Dollars )
                                    Three Months Ended   Twelve Months Ended
                                    December 31,         December 31,
                                    2012       2011      2012       2011
Share-based compensation expenses
included in:
Cost of revenues                    $1         $1        $5         $6
Selling and marketing expenses      1          2         5          11
General and administrative expenses 817        620       3,156      4,092
Total                               $819       $623      $3,166     $4,109

Xueda Education Group
UNAUDITED RECONSILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP
MEASURES
(in thousands of US Dollars )
                                             Three Months Ended December 31,
                                             2012            2011
Cost of revenues                             $(50,737)       $(40,814)
Share-based compensation expense included in 1               1
cost of revenues
Non-GAAP cost of revenues                    (50,736)        (40,813)
General and administrative expenses          (12,953)        (11,156)
Share-based compensation expense included in 817             620
general and administrative expenses
Non-GAAP general and administrative expenses (12,136)        (10,536)
Selling and marketing expenses               (6,760)         (7,303)
Share-based compensation expense included in 1               2
selling and marketing expenses
Non-GAAP selling and marketing expenses      (6,759)         (7,301)
Total costs of revenues and operating        (70,450)        (59,273)
expenses
Share-based compensation expenses            819             623
Non-GAAP costs and operating expenses        (69,631)        (58,650)
Gross profit                                 8,893           6,936
Share-based compensation expenses            1               1
Non-GAAP gross profit                        8,894           6,937
Loss from operations                         (10,683)        (11,322)
Share-based compensation expenses            819             623
Non-GAAP loss from operations                (9,864)         (10,699)
Net loss attributable to Xueda Education     (8,094)         (9,895)
Group
Share-based compensation expenses            819             623
Non-GAAP net loss attributable to Xueda      (7,275)         (9,272)
Education Group
Non-GAAP net loss attributable to Xueda
Education Group per ADS:
Basic                                        (0.11)          (0.14)
Diluted                                      (0.11)          (0.14)
Weighted average ADS numbers used in
calculating non-GAAP net loss attributable
to Xueda Education Group per ADS:
Basic                                        65,049,506      67,847,771
Diluted                                      65,049,506      67,847,771

Xueda Education Group
UNAUDITED RECONSILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP
MEASURES
(in thousands of US Dollars)
                                             Twelve Months Ended December 31,
                                             2012             2011
Cost of revenues                             $(219,655)       $(156,222)
Share-based compensation expense included in 5                6
cost of revenues
Non-GAAP cost of revenues                    (219,650)        (156,216)
General and administrative expenses          (46,427)         (36,425)
Share-based compensation expense included in 3,156            4,092
general and administrative expenses
Non-GAAP general and administrative expenses (43,271)         (32,333)
Selling and marketing expenses               (31,336)         (25,940)
Share-based compensation expense included in 5                11
selling and marketing expenses
Non-GAAP selling and marketing expenses      (31,331)         (25,929)
Total costs of revenues and operating        (297,418)        (218,587)
expenses
Share-based compensation expenses            3,166            4,109
Non-GAAP costs and operating expenses        (294,252)        (214,478)
Gross profit                                 73,502           65,516
Share-based compensation expenses            5                6
Non-GAAP gross profit                        73,507           65,522
(Loss) income from operations                (4,097)          3,508
Share-based compensation expenses            3,166            4,109
Non-GAAP (loss) income from operations       (931)            7,617
Net income attributable to Xueda Education   1,965            4,790
Group
Share-based compensation expenses            3,166            4,109
Non-GAAP net income attributable to Xueda    5,131            8,899
Education Group
Non-GAAP net income attributable to Xueda
Education Group per ADS:
Basic                                        0.08             0.13
Diluted                                      0.08             0.13
Weighted average ADS numbers used in
calculating non-GAAP net income attributable
to Xueda Education Group per ADS:
Basic                                        65,658,002       68,872,588
Diluted                                      65,888,103       71,134,457



SOURCE Xueda Education Group

Website: http://ir.xueda.com
 
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