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xueda education gr-spon adr (XUE) Key Developments

Xueda Education Group Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014 and Full Year of Fiscal 2015

Xueda Education Group announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net revenues were $72.550 million against $79.405 million a year ago. Loss from operations was $12.2 million against income of $0.247 million a year ago. Loss before income tax expenses and loss in equity method investment was $10.54 million against income of $2.03 million a year ago. Net loss attributable to the company was $9.74 million against income of $1.23 million a year ago. Diluted loss per share was $0.16 against income of $0.02 a year ago. Non-GAAP loss from operations was $11.2 million against income of $1.91 million a year ago, was primarily due to lower gross profit. Non-GAAP net loss attributable to the company was $8.74 million against income of $2.89 million a year ago. Non-GAAP diluted loss per share was $0.14 against income of $0.04 a year ago. Net operating cash inflow for the third quarter 2014 was $11.7 million, compared to $19.2 million for the third quarter 2013. The decrease in net operating cash inflow was mainly due to additional staff cost and office expenses associated with expanded business operations. Capital expenditures for the third quarter 2014 were $2.4 million, nearly unchanged from $2.3 million for the third quarter 2013. For the nine months, the company reported net revenues were $278.61 million against $277.93 million a year ago. Income from operations was $6.43 million against income of $23.46 million a year ago. Income before income tax expenses and loss in equity method investment was $11.15 million against income of $28.82 million a year ago. Net income attributable to the company was $6.67 million against income of $20.42 million a year ago. Diluted income per share was $0.10 against income of $0.31 a year ago. Non-GAAP income from operations was $11.74 million against income of $27.26 million a year ago. The decrease was primarily attributed to lower gross profit in the second and third quarters of 2014. Non-GAAP net income attributable to the company was $11.98 million against income of $24.22 million a year ago. Non-GAAP diluted income per share was $0.18 against income of $0.36 a year ago. Net operating cash inflow for the first nine months of 2014 was $9.1 million, compared to $37.7 million for the corresponding period in 2013. The decrease was primarily attributed to additional staff and office expenses associated with expanded business operations. Capital expenditures for the first nine months of 2014 were $9.5 million, compared to $6.4 million for the corresponding period in 2013. The increase was largely attributable to the net 49 new learning centers added in the first nine months of 2014. For the fourth quarter 2014, the company currently expects net revenues to be at least $59.4 million, a decrease of approximately 14.1% from the year-ago period. Non-GAAP net loss attributable to Xueda Education Group per ADS to be approximately $0.25, compared to non-GAAP diluted net loss attributable to Xueda Education Group per ADS of $0.04 for the same quarter of the previous year. For the full-year 2014, the company currently expects net revenues to be at least $338.0 million, a decrease of 2.6% from the previous year. Non-GAAP net loss attributable to Xueda Education Group per ADS to be approximately $0.06, compared to non-GAAP diluted net income attributable to Xueda Education Group per ADS of $0.32 from the previous year. The company is anticipating revenue growth in 2015, and looks forward to quickly returning to healthier gross margin and profitability levels.

Xueda Education Group to Report Q3, 2014 Results on Nov 18, 2014

Xueda Education Group announced that they will report Q3, 2014 results at 5:00 PM, China Standard Time on Nov 18, 2014

Xueda Education Group, Q3 2014 Earnings Call, Nov 18, 2014

Xueda Education Group, Q3 2014 Earnings Call, Nov 18, 2014

Xueda Education Group, Annual General Meeting, Dec 02, 2014

Xueda Education Group, Annual General Meeting, Dec 02, 2014. Location: No.4 Xibahe Bei Road. Agenda: To adopt the company's audited consolidated financial statements for the fiscal year ended December 31, 2013; to ratify the appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as the company's independent auditors; and to transact any other business properly brought before the meeting.

Xueda Education Group Reports Unaudited Consolidated and Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

Xueda Education Group reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $120.810 million against $114.627 million a year ago. Income from operations was $18.331 million against $21.544 million a year ago. Income before income tax expenses was $19.923 million against $23.561 million a year ago. Net income attributable to company was $15.256 million against $17.170 million a year ago. Diluted net income attributable to company per ADS for the second quarter 2014 was $0.24 per ADS, compared to $0.26 per ADS for the second quarter 2013. Non-GAAP income from operations was $19.821 million against $22.650 million a year ago. Non-GAAP net income attributable to company was $16.746 million against $18.276 million a year ago. Basic and diluted non-GAAP net income attributable to company was $0.27 against $0.28 a year ago. The decrease in operating income was primarily due to lower gross profit. Net operating cash outflow for the second quarter 2014 was $19.7 million, compared to $5.3 million cash outflow for the second quarter 2013. The increase in net operating cash outflow was mainly due to lower cash collections from enrollment and renewals. Capital expenditures for the second quarter 2014 were $3.7 million, compared to $1.7 million for the second quarter 2013. The increase in capital expenditures was attributed to the increase in new learning centers in the second quarter 2014, compared to the net decrease of 2 learning centers in the second quarter 2013. For the six months the company reported net revenues of $206.064 million against $198.528 million a year ago. Income from operations was $18.633 million against $23.218 million a year ago. Income before income tax expenses was $21.691 million against $26.794 million a year ago. Net income attributable to company was $16.412 million against $19.187 million a year ago. Diluted net income attributable to company per ADS for the first half 2014 was $0.25, compared to $0.29 for the corresponding period in 2013. Non-GAAP income from operations was $22.938 million against $25,356 million a year ago. Non-GAAP net income attributable to company was $20.717 million against $21.325 million a year ago. Diluted non-GAAP net income attributable to company was $0.31 against $0.32 a year ago. Net operating cash outflow for the first half 2014 was $2.6 million, compared to an $18.5 million cash inflow for the corresponding period in 2013. The increase in net operating cash outflow was mainly due to lower cash collection from new enrollment and renewals. Capital expenditures for the first half 2014 were $7.1 million, compared to $4.1 million for the corresponding period in 2013. For the third quarter of 2014, the company expects net revenues to be at least $73.0 million, a decrease of approximately 8% from the same quarter of the previous year. Non-GAAP net loss attributable to company per ADS to be approximately $0.08, compared to non-GAAP diluted net income attributable to company per ADS of $0.04 for the same quarter of the previous year. This estimate assumes a full-year effective income tax rate of 27% on non-GAAP income before income tax and weighted average basic ADSs of 62.2 million. For the full year of 2014, the company expects net revenues to be at least $347.5 million, flat from the previous year. Non-GAAP diluted net income attributable to company per ADS to be at least $0.16, compared to $0.32 from the previous year, representing a 50% year-over-year decrease. This estimate assumes an effective income tax rate of 27% on non-GAAP income before income tax and weighted average diluted ADSs of 65.1 million.

 

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