EDU FY 2008 Earnings Report — New Oriental Education & Technology Group Inc. Revenue & Financial Results | Market Cap Arena

New Oriental Education & Technology Group Inc.EDU

FY 2008 Earnings

Reported October 23, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$201M	—	$136M	—	47.3%
Op. Income	$45M	—	$208M	—	-78.2%
Gross Margin	61.6%	—	59.5%	—	2.1pp
Net Margin	24.4%	—	21.7%	—	2.7pp
EPS (Diluted)	$0.31	—	$0.20	—	55.0%
Free Cash Flow	$65M	—	$51M	—	27.1%

Revenue Flow

Item	Amount
REVENUE	$201M
Cost of Revenue	$77M
GROSS PROFIT	$124M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$78M
SG&A Expenses	$78M
Other Expenses	$0
Operating Expenses	$78M
Cost & Expenses	$156M
OPERATING INCOME	$45M
Interest Income	$8M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$53M
Income Tax Expense	$4M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$49M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$8M
EBIT	$52M
EBITDA	$60M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$201M
Cost of Revenue	$77M
GROSS PROFIT	$124M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$78M
SG&A Expenses	$78M
Other Expenses	$0
Operating Expenses	$78M
Cost & Expenses	$156M
OPERATING INCOME	$45M
Interest Income	$8M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$53M
Income Tax Expense	$4M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$49M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$8M
EBIT	$52M
EBITDA	$60M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$49M
Depreciation & Amortization	$8M
Stock-Based Compensation	$5M
Deferred Income Tax	-$195.0K
Other Non-Cash Items	$4M
Change in Working Capital	$11M
OPERATING CASH FLOW	$77M
Capital Expenditure	-$11M
Acquisitions (Net)	-$2M
Purchases of Investments	-$47M
Sales/Maturities of Investments	$618.0K
Other Investing Activities	-$73.0K
NET CASH FROM INVESTING	-$60M
Net Debt Issuance	$0
Common Stock Repurchased	-$27M
Common Dividends Paid	$0
Other Financing Activities	-$272.0K
NET CASH FROM FINANCING	-$19M
FREE CASH FLOW	$65M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$208M
Short-Term Investments	$53M
Net Receivables	$880.0K
Inventory	$11M
Other Current Assets	$861.0K
TOTAL CURRENT ASSETS	$287M
PP&E (Net)	$103M
Goodwill	$0
Intangible Assets	$4M
Long-Term Investments	$0
Tax Assets	$1M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$110M
TOTAL ASSETS	$397M
Account Payables	$7M
Short-Term Debt	$0
Deferred Revenue	$59M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$98M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$98M
Common Stock	$2M
Additional Paid-In Capital	$178M
Retained Earnings	$89M
Treasury Stock	$0
Accum. Other Comp. Income	$31M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$299M
Minority Interest	$177.0K
TOTAL EQUITY	$299M
TOTAL LIABILITIES & EQUITY	$397M
Total Debt	$0
Net Debt	-$208M