TAL Education Group, a leading provider of smart learning solutions in China, has released its fourth-quarter financial report. The report shows the company made a net income of $27.51 million, a significant turnaround from a net loss of $39.42 million during the same period last year.
Each American Depositary Share posted a net income of $0.04, contrasting with last year's loss of $0.06. When adjusted for attributions to TAL, the net income was $48.01 million, a remarkable recovery from the previous year's net loss of $13.09 million. The adjusted net income per ADS came out as $0.08, compared to a net loss of $0.02 in the previous year.
The company's net revenues soared by 59.7%, reaching $429.56 million, compared to $269 million in the same period of the previous year. Analysts had, on average, predicted the company's earnings to be $0.02 per share on revenues of $389.78 million, according to data complied by Thomson Reuters. Analysts' estimates usually neglect special items.
TAL shares were seen to be on the rise, gaining around 8% in pre-market activity on the New York Stock Exchange (NYSE), and trading at $13.24.
