BEIJING, Nov. 19, 2015 /PRNewswire/ -- Xueda Education
Group (NYSE: XUE) ("Xueda" or the "Company"), a leading national
provider of personalized tutoring services for primary and
secondary school students in China, today announced its unaudited financial
results for the third quarter ended September 30, 2015.
Financial Highlights for Third Quarter 2015 Compared to Third
Quarter 2014
- Total net revenues increased 11.5% to $80.9 million from $72.6
million.
- Gross margin was 22.5%, compared to 16.5%.
- Net loss attributable to Xueda Education Group was $4.6 million, compared to net loss of
$9.7 million.
- Non-GAAP net loss[1] per ADS attributable to Xueda Education
Group was $0.06, compared to non-GAAP
net loss per ADS of $0.14.
Operational Highlights for Third Quarter 2015
- Effective student count[2] increased 9.1% year-over-year to
70,524 students, from 64,641 for the third quarter 2014.
- New student sign-ups[3] increased 14.8% year-over-year to
37,401 students, from 32,587 for the third quarter 2014.
- New learning centers were net 1 with 8 opened and 7 closed. The
total number of learning centers at the end of the third quarter
2015 was 500. Total area of learning centers decreased 1.4%
year-over-year to approximately 283,000 square meters, from
approximately 287,000 square meters in the third quarter 2014.
[1] All non-GAAP
measures exclude share-based compensation expenses. For 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.
[2] Effective student
count is the number of students whose contract amounts are at least
200RMB as of the last day of the period and have attended at least
one tutoring session within the last 180 days.
[3] New student
sign-ups is the number of students who enrolled in a Xueda program
during the quarter for the first time, or have not been enrolled in
a Xueda program for the last three calendar years.
|
Third Quarter 2015 Financial and Operating Results
Total Net Revenues
Total net revenues for the third quarter 2015 increased 11.5%
year-over-year to $80.9 million, from
$72.6 million for the third quarter
2014. The increase was due to a 9.1% increase in effective student
count and the elimination of package pricing considerations and
double-discounts that were in place in the third quarter
2014.
- Effective student count increased 9.1% to 70,524 for the third
quarter 2015, from 64,641 for the third quarter 2014.
- Average net revenue per student for the third quarter 2015
increased 2.9% to $1,205, compared to
$1,171 for the third quarter
2014.
Cost of Revenues
Cost of revenues for the third quarter 2015 increased 3.6%
year-over-year to $62.7 million, from
$60.6 million for the third quarter
2014.
Gross Profit and Gross Margin
Gross profit for the third quarter 2015 increased 51.9%
year-over-year to $18.2 million from
$12.0 million for the third quarter
2014. Gross margin for the third quarter 2015 was 22.5%, compared
to 16.5% for the third quarter 2014. The increase was largely
due to higher net revenues as cited above.
- Teaching staff cost for the third quarter 2015 increased to
$47.0 million, from $41.9 million in the third quarter 2014. The
increase in teaching staff cost was in line with revenue growth. As
a percentage of total net revenues, teaching staff cost was 58.0%
and 57.8% for the third quarters 2015 and 2014, respectively.
- Rental cost for the third quarter 2015 decreased to
$10.3 million, from $10.7 million in the third quarter 2014. As a
percentage of total net revenues, rental costs were 12.7% and
14.7%, for the third quarters 2015 and 2014, respectively.
- Depreciation cost for the third quarter 2015 decreased to 3.0%
of total net revenues, from 4.2% for the third quarter 2014.
Operating Expenses
Total operating expenses for the third quarter 2015 were
$24.2 million, unchanged from the
third quarter 2014. Total operating expenses for the third
quarter 2015 accounted for 29.9% of total net revenues, compared to
33.3% for the third quarter 2014. Total non-GAAP operating expenses
for the third quarter 2015 were $23.2
million, unchanged from the same period in 2014. Total
non-GAAP operating expenses for the third quarter 2015 comprised
28.7% of total net revenues, compared to 31.9% for the third
quarter 2014.
General and administrative expenses for the third quarter 2015
were $15.5 million, compared to
$14.2 million for the same period in
2014. The increase was mainly attributable to legal and
advisory expenses associated with the definitive merger agreement
that the Company signed with Xiamen Insight Investment Co., Ltd.
("Insight") on July 26, 2015.
Non-GAAP general and administrative expenses for the third quarter
2015 were $14.6 million, compared to
$13.2 million for the same period in
2014. Non-GAAP general and administrative expenses for the
third quarter 2015 accounted for 18.0% of total net revenues,
compared to 18.2% for the same period in 2014.
Sales and marketing expenses for the third quarter 2015 were
$8.6 million, compared to
$10.0 million for the same period in
2014. Sales and marketing expenses for the third quarter 2015
represented 10.7% of total net revenues, compared to 13.8% for the
third quarter 2014.
Operating Loss
Operating loss for the third quarter 2015 was $6.0 million, compared to operating loss of
$12.2 million for the third quarter
2014. The reduced operating loss was largely due to the increase in
net revenues. Non-GAAP operating loss for the third quarter
2015 was $5.0 million, compared to
non-GAAP operating loss of $11.2
million for the third quarter 2014.
Net Loss and Net Loss per ADS
Net loss attributable to Xueda Education Group for the third
quarter 2015 was $4.6 million,
compared to net loss of $9.7 million
for the same period in 2014. Net loss attributable to Xueda
Education Group per ADS for the third quarter 2015 was $0.07 per ADS, compared to net loss of
$0.16 per ADS for the third quarter
2014.
Non-GAAP net loss attributable to Xueda Education Group for the
third quarter 2015 was $3.6 million,
compared to non-GAAP net loss of $8.7
million for the third quarter 2014. Non-GAAP net loss
attributable to Xueda Education Group per ADS for the third quarter
2015 was $0.06 per ADS, compared to
non-GAAP net loss of $0.14 for the
third quarter 2014.
Cash Flow
Net operating cash inflow for the third quarter 2015 was
$25.5 million, compared to
$11.7 million for the third quarter
2014. The increase in net operating cash inflow was mainly due to
better cash collection. Capital expenditures for the third
quarter 2015 were $ 2.9 million,
compared to $2.4 million for the
third quarter 2014.
First Nine Months of 2015 Financial Results and Operating
Results
Total Net Revenues
Total net revenues were $287.7
million for the first nine months of 2015, an increase of
3.3% year-over-year from $278.6
million for the corresponding period in 2014.
- Total new student sign-ups were 93,564 for the first nine
months of 2015, an increase of 7.1% year-over-year from 87,380 for
the corresponding period in 2014.
- Average total revenue per student was $4,140 for the first nine months of 2015,
compared to $4,132 for the
corresponding period in 2014.
Cost of Revenues
Total cost of revenues were $201.9
million for the first nine months of 2015, an increase of
0.5% year-over-year from $200.9
million for the corresponding period in 2014.
Gross Profit and Gross Margin
Gross profit was $85.8 million for
the first nine months of 2015, an increase of 10.4% year-over-year
from $77.7 million for the
corresponding period in 2014. For the first nine months of
2015, gross margin was 29.8%, compared to 27.9% for the
corresponding period in 2014.
- Teaching staff cost was 53.8% of total net revenues for the
first nine months of 2015, compared to 49.2% for the corresponding
period in 2014.
- Rental cost was 10.8% of total net revenues for the first nine
months of 2015, compared to 11.4% for the corresponding period in
2014. The Company opened net 33 learning centers in the first nine
months of 2015, compared to opening net 49 learning centers in the
corresponding period in 2014.
Operating Expenses
Total operating expenses were $74.6
million for the first nine months of 2015, an increase of
4.6% year-over-year from $71.3
million for the corresponding period in 2014. Total
operating expenses accounted for 25.9% of total net revenues for
the first nine months of 2015, up slightly from 25.6% for the
corresponding period in 2014.
General and administrative expenses were $46.8 million for the first nine months of 2015,
an increase of 9.7% year-over-year from $42.7 million for the corresponding period in
2014. The increase was mainly attributable to legal and
advisory expenses associated with the definitive merger agreement
that the Company signed with Insight on July
26, 2015. Selling and marketing expenses were
$27.8 million for the first nine
months of 2015, slightly decreased from $28.6 million for the corresponding period in
2014.
Operating Income
Income from operations for the first nine months of 2015 was
$11.2 million, an increase of 73.7%
year-over-year from $6.4 million for
the corresponding period in 2014. The increase was primarily
attributed to higher net revenues earned in the first nine months
of 2015. Non-GAAP income from operations for the first nine
months of 2015 was $14.2 million, an
increase of 20.7% from $11.7 million
for the corresponding period in 2014.
Net Income and Net Income per ADS
Net income attributable to Xueda Education Group for the first
nine months of 2015 was $7.1 million,
an increase of 6.7% year-over-year from $6.7
million for the corresponding period in 2014. Diluted net
income attributable to Xueda Education Group per ADS for the first
nine months of 2015 was $0.11,
compared to $0.10 for the
corresponding period in 2014.
Non-GAAP net income attributable to Xueda Education Group for
the first nine months of 2015 was $10.1
million, a decrease of 15.6% year-over-year from
$12.0 million for the corresponding
period in 2014. Non-GAAP diluted income attributable to Xueda
Education Group per ADS for the first nine months of 2015 was
$0.16, compared to $0.18 for the corresponding period in 2014.
Cash Flow
Net operating cash inflow for the first nine months of 2015 was
$44.9 million, compared to
$9.1 million for the corresponding
period in 2014. The increase in net operating cash inflow was
primarily attributable to better cash collection. Capital
expenditures for the first nine months of 2015 were $8.2 million, compared to $9.5 million for the corresponding period in
2014.
Cash and Short-term Investment
As of September 30, 2015, the
Company had cash, cash equivalents and short-term investments
totaling $237.2 million, compared to
$208.5 million as of December 31, 2014. The increase was mainly due to
the increase in net operating cash inflow as discussed above.
Business Outlook
Considering the definitive merger agreement signed by the
Company with Insight on July 26,
2015, the Company does not intend to issue any forward
guidance or business outlook at this time.
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 operating expenses, adjusted general
and administrative expenses, adjusted operating income (loss),
adjusted net income (loss) and adjusted diluted net income (loss)
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.
About Xueda Education Group
Xueda Education Group ("Xueda") is a leading national provider
of personalized tutoring services for primary and secondary school
students in China. For more
information about Xueda, please visit http://ir.xueda.com.
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.
Contact:
Xueda Education Group
Ross Warner
Tel: +86-10-6427-8899 ext. 6619
Email: investor_relations@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 U.S. Dollars)
|
|
|
As
of
|
|
September
30, 2015
|
December 31,
2014
|
|
(Unaudited)
|
(Note)
|
Current
assets:
|
|
|
Cash and cash
equivalents
|
$113,179
|
$ 113,825
|
Short-term
investments
|
124,034
|
94,721
|
Prepaid expenses and
other current assets
|
16,376
|
14,813
|
Amounts due from
related parties
|
-
|
170
|
Deferred tax
assets-current
|
8,005
|
6,125
|
Total current
assets
|
261,594
|
229,654
|
|
|
|
Property and
equipment, net
|
27,893
|
30,433
|
Rental
deposits
|
4,884
|
4,893
|
Goodwill
|
855
|
875
|
Long-term
investments
|
19,088
|
9,010
|
Other noncurrent
assets
|
2,940
|
4,084
|
Total
assets
|
$317,254
|
$ 278,949
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
Current
liabilities:
|
|
|
Deferred
revenue-current (including deferred
revenue of the consolidated VIE without
recourse to the Group of $116,640 and $102,461
as of September 30, 2015 and December 31,
2014, respectively)
|
116,640
|
102,461
|
Accrued expenses and
other current liabilities
(including accrued expenses and other current
liabilities of the consolidated VIE without
recourse to the Group of $29,693 and $30,605
as of September 30, 2015 and December 31, 2014,
respectively)
|
45,962
|
32,473
|
Income taxes payable
(including income taxes
payable of the consolidated VIE without recourse
to the Group of $9,876 and $8,632 as of September
30, 2015 and December 31, 2014, respectively)
|
14,025
|
9,064
|
Deferred
income-current (including deferred income
of the consolidated VIE without recourse to the
Group of nil and nil as of September 30, 2015 and
December 31, 2014, respectively)
|
-
|
550
|
Total current
liabilities
|
176,627
|
144,548
|
Deferred
revenue-noncurrent (including deferred
revenue of the consolidated VIE without recourse
to the Group of $26,275 and $23,687 as of
September 30, 2015 and December 31, 2014,
respectively)
|
26,275
|
23,687
|
|
|
|
Total
liabilities
|
202,902
|
168,235
|
|
|
|
Total Xueda
Education Group Shareholders' equity
|
114,510
|
110,793
|
Noncontrolling
interests
|
(158)
|
(79)
|
Total
equity
|
114,352
|
110,714
|
Total liabilities
and equity
|
$ 317,254
|
$ 278,949
|
|
|
|
Note: The above financial
information as of December 31, 2014 is derived from Xueda Education
Group's
audited financial statements for the year ended December 31,
2014.
|
|
|
|
Xueda Education
Group
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
(in thousands
of U.S. Dollars, except number of ADSs and per ADS
data)
|
|
|
Three Months
Ended September 30,
|
Nine Months
Ended
September 30,
|
|
2015
|
2014
|
2015
|
2014
|
|
|
|
|
|
Net
revenues
|
$ 80,916
|
$ 72,550
|
$ 287,685
|
$ 278,614
|
Cost of
revenues(1)
|
(62,732)
|
(60,579)
|
(201,925)
|
(200,898)
|
Gross
profit
|
18,184
|
11,971
|
85,760
|
77,716
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
General and
administrative(1)
|
(15,530)
|
(14,199)
|
(46,840)
|
(42,706)
|
Selling and
marketing(1)
|
(8,625)
|
(9,977)
|
(27,753)
|
(28,582)
|
Total operating
expenses
|
(24,155)
|
(24,176)
|
(74,593)
|
(71,288)
|
(Loss) income from
operations
|
(5,971)
|
(12,205)
|
11,167
|
6,428
|
Interest
income
|
1,338
|
1,668
|
4,128
|
4,726
|
(Loss) income
before income tax expenses and loss in
equity method investment
|
(4,633)
|
(10,537)
|
15,295
|
11,154
|
Income tax
expenses
|
964
|
774
|
(6,682)
|
(4,598)
|
(Loss) income
after income tax expenses before loss in
equity method investment
|
(3,669)
|
(9,763)
|
8,613
|
6,556
|
Loss in equity method
investment
|
(929)
|
(46)
|
(1,604)
|
(46)
|
Net (loss)
income
|
(4,598)
|
(9,809)
|
7,009
|
6,510
|
Net loss attributable
to non-controlling interests, net of taxes
|
28
|
66
|
105
|
159
|
Net (loss) income
attributable to Xueda Education Group
|
(4,570)
|
(9,743)
|
7,114
|
6,669
|
|
|
|
|
|
Net (loss)
income attributable to Xueda Education Group
per ADS:
|
|
|
|
|
|
|
|
|
|
Basic
|
(0.07)
|
(0.16)
|
0.11
|
0.10
|
Diluted
|
(0.07)
|
(0.16)
|
0.11
|
0.10
|
|
|
|
|
|
Weighted average ADS numbers used in calculating
net (loss) income attributable to Xueda
Education
Group per ADS:
|
|
|
|
|
Basic
|
62,756,607
|
62,192,317
|
62,372,468
|
63,631,405
|
Diluted
|
62,756,607
|
62,192,317
|
62,943,214
|
64,901,372
|
|
|
|
(1) Includes the
following amounts of share-based compensation expenses for the
periods indicated:
|
|
|
|
|
Three Months
Ended September 30,
|
Nine Months Ended
September 30,
|
|
2015
|
2014
|
2015
|
2014
|
|
|
|
|
|
Share-based
compensation expenses included in:
|
|
|
|
|
Cost of
revenues
|
$8
|
$8
|
$24
|
$27
|
Selling and marketing
expenses
|
-
|
-
|
-
|
10
|
General and
administrative expenses
|
926
|
998
|
2,976
|
5,274
|
Total
|
$934
|
$1,006
|
$3,000
|
$5,311
|
Xueda Education
Group
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME
|
(in thousands
of U.S Dollars)
|
|
|
|
|
Three Months
Ended
September
30,
|
Nine Months Ended
September
30,
|
|
2015
|
2014
|
2015
|
2014
|
Net (loss)
income
|
$ (4,598)
|
$ (9,809)
|
$7,009
|
$6,510
|
Other comprehensive
income (loss), net of tax of nil
|
2,854
|
577
|
3,092
|
(47)
|
Total
comprehensive (loss) income
|
$ (1,744)
|
$ (9,232)
|
$10,101
|
$6,463
|
Less: Comprehensive
loss attributable to non-controlling interests
|
(1)
|
(76)
|
(79)
|
(152)
|
Total
comprehensive (loss) income attributable to Xueda Education
Group
|
$(1,743)
|
$(9,156)
|
$10,180
|
$6,615
|
Xueda Education
Group
|
UNAUDITED
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP
MEASURES
|
(in thousands
of U.S Dollars, except number of ADS and per ADS
data)
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
2015
|
|
2014
|
|
|
|
|
|
|
Cost of
revenues
|
$(62,732)
|
|
$(60,579)
|
|
Share-based
compensation expense included in cost of revenues
|
8
|
|
8
|
|
Non-GAAP cost of
revenues
|
(62,724)
|
|
(60,571)
|
|
|
|
|
|
|
General and
administrative expenses
|
(15,530)
|
|
(14,199)
|
|
Share-based
compensation expense included in general and administrative
expenses
|
926
|
|
998
|
|
Non-GAAP general and
administrative expenses
|
(14,604)
|
|
(13,201)
|
|
|
|
|
|
|
Selling and marketing
expenses
|
(8,625)
|
|
(9,977)
|
|
Share-based
compensation expense included in selling and marketing
expenses
|
-
|
|
-
|
|
Non-GAAP selling and
marketing expenses
|
(8,625)
|
|
(9,977)
|
|
|
|
|
|
|
Total operating
expenses
|
(24,155)
|
|
(24,176)
|
|
Share-based
compensation expenses
|
926
|
|
998
|
|
Non-GAAP total
operating expenses
|
(23,229)
|
|
(23,178)
|
|
|
|
|
|
|
Total cost of
revenues and operating expenses
|
(86,887)
|
|
(84,755)
|
|
Share-based
compensation expenses
|
934
|
|
1,006
|
|
Non-GAAP cost of
revenues and operating expenses
|
(85,953)
|
|
(83,749)
|
|
|
|
|
|
|
Gross
profit
|
18,184
|
|
11,971
|
|
Share-based
compensation expenses
|
8
|
|
8
|
|
Non-GAAP gross
profit
|
18,192
|
|
11,979
|
|
|
|
|
|
|
Loss from
operations
|
(5,971)
|
|
(12,205)
|
|
Share-based
compensation expenses
|
934
|
|
1,006
|
|
Non-GAAP loss from
operations
|
(5,037)
|
|
(11,199)
|
|
|
|
|
|
|
Net loss attributable
to Xueda Education Group
|
(4,570)
|
|
(9,743)
|
|
Share-based
compensation expenses
|
934
|
|
1,006
|
|
Non-GAAP net loss
attributable to Xueda Education Group
|
(3,636)
|
|
(8,737)
|
|
|
|
|
|
|
Non-GAAP net
loss attributable to Xueda Education Group per
ADS:
|
|
|
|
|
Basic
|
(0.06)
|
|
(0.14)
|
|
Diluted
|
(0.06)
|
|
(0.14)
|
|
|
|
|
|
|
Weighted average
ADS numbers used in
calculating
non-GAAP net loss attributable to Xueda Education Group per
ADS:
|
|
|
|
|
Basic
|
62,756,607
|
|
62,192,317
|
|
Diluted
|
62,756,607
|
|
62,192,317
|
|
Xueda Education
Group
|
UNAUDITED
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP
MEASURES
|
(in thousands
of U.S Dollars, except number of ADS and per ADS
data)
|
|
|
|
Nine Months Ended
September 30,
|
|
2015
|
|
2014
|
|
|
|
|
Cost of
revenues
|
$(201,925)
|
|
$(200,898)
|
Share-based
compensation expense included in cost of revenues
|
24
|
|
27
|
Non-GAAP cost of
revenues
|
(201,901)
|
|
(200,871)
|
|
|
|
|
General and
administrative expenses
|
(46,840)
|
|
(42,706)
|
Share-based
compensation expense included in general and administrative
expenses
|
2,976
|
|
5,274
|
Non-GAAP general and
administrative expenses
|
(43,864)
|
|
(37,432)
|
|
|
|
|
Selling and marketing
expenses
|
(27,753)
|
|
(28,582)
|
Share-based
compensation expense included in selling and marketing
expenses
|
-
|
|
10
|
Non-GAAP selling and
marketing expenses
|
(27,753)
|
|
(28,572)
|
|
|
|
|
Total operating
expenses
|
(74,593)
|
|
(71,288)
|
Share-based
compensation expenses
|
2,976
|
|
5,284
|
Non-GAAP operating
expenses
|
(71,617)
|
|
(66,004)
|
|
|
|
|
Total costs of
revenues and operating expenses
|
(276,518)
|
|
(272,186)
|
Share-based
compensation expenses
|
3,000
|
|
5,311
|
Non-GAAP costs of
revenues and operating expenses
|
(273,518)
|
|
(266,875)
|
|
|
|
|
Gross
profit
|
85,760
|
|
77,716
|
Share-based
compensation expenses
|
24
|
|
27
|
Non-GAAP gross
profit
|
85,784
|
|
77,743
|
|
|
|
|
Income from
operations
|
11,167
|
|
6,428
|
Share-based
compensation expenses
|
3,000
|
|
5,311
|
Non-GAAP income from
operations
|
14,167
|
|
11,739
|
|
|
|
|
Net income
attributable to Xueda Education Group
|
7,114
|
|
6,669
|
Share-based
compensation expenses
|
3,000
|
|
5,311
|
Non-GAAP net
income attributable to Xueda Education Group
|
10,114
|
|
11,980
|
|
|
|
|
Non-GAAP net
income attributable to Xueda Education Group per
ADS:
|
|
|
|
Basic
|
0.16
|
|
0.19
|
Diluted
|
0.16
|
|
0.18
|
|
|
|
|
Weighted average
ADS numbers used in
calculating
non-GAAP net income attributable to Xueda Education Group
per ADS:
|
|
|
|
Basic
|
62,372,468
|
|
63,631,405
|
Diluted
|
62,943,214
|
|
64,901,372
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/xueda-education-group-reports-third-quarter-2015-financial-results-300181709.html
SOURCE Xueda Education Group