EDU FY 2009 Earnings Report — New Oriental Education & Technology Group Inc. Revenue & Financial Results | Market Cap Arena

New Oriental Education & Technology Group Inc.EDU

FY 2009 Earnings

Reported October 19, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$293M	—	$201M	—	45.6%
Op. Income	$61M	—	$45M	—	34.4%
Gross Margin	61.7%	—	61.6%	—	0.1pp
Net Margin	20.9%	—	24.4%	—	-3.5pp
EPS (Diluted)	$0.40	—	$0.31	—	29.0%
Free Cash Flow	$81M	—	$65M	—	24.2%

Revenue Flow

Item	Amount
REVENUE	$293M
Cost of Revenue	$112M
GROSS PROFIT	$181M
R&D Expenses	$0
Selling & Marketing	$39M
General & Administrative	$81M
SG&A Expenses	$120M
Other Expenses	$0
Operating Expenses	$120M
Cost & Expenses	$232M
OPERATING INCOME	$61M
Interest Income	$7M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$68M
Income Tax Expense	$7M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$11M
EBIT	$61M
EBITDA	$72M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$293M
Cost of Revenue	$112M
GROSS PROFIT	$181M
R&D Expenses	$0
Selling & Marketing	$39M
General & Administrative	$81M
SG&A Expenses	$120M
Other Expenses	$0
Operating Expenses	$120M
Cost & Expenses	$232M
OPERATING INCOME	$61M
Interest Income	$7M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$68M
Income Tax Expense	$7M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$11M
EBIT	$61M
EBITDA	$72M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$61M
Depreciation & Amortization	$11M
Stock-Based Compensation	$17M
Deferred Income Tax	-$1M
Other Non-Cash Items	-$106.0K
Change in Working Capital	$10M
OPERATING CASH FLOW	$97M
Capital Expenditure	-$16M
Acquisitions (Net)	-$470.0K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$6M
NET CASH FROM INVESTING	-$22M
Net Debt Issuance	$8.0K
Common Stock Repurchased	-$35M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$30M
FREE CASH FLOW	$81M
Net Change in Cash	$46M

Balance Sheet

Item	Amount
Cash & Equivalents	$255M
Short-Term Investments	$60M
Net Receivables	$2M
Inventory	$15M
Other Current Assets	$2M
TOTAL CURRENT ASSETS	$348M
PP&E (Net)	$110M
Goodwill	$3M
Intangible Assets	$4M
Long-Term Investments	$2.0K
Tax Assets	$1M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$122M
TOTAL ASSETS	$469M
Account Payables	$9M
Short-Term Debt	$0
Deferred Revenue	$75M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$118M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$157.0K
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$157.0K
TOTAL LIABILITIES	$118M
Common Stock	$2M
Additional Paid-In Capital	$166M
Retained Earnings	$147M
Treasury Stock	$0
Accum. Other Comp. Income	$23M
Other Equity	$13M
TOTAL STOCKHOLDERS' EQUITY	$351M
Minority Interest	$238.0K
TOTAL EQUITY	$351M
TOTAL LIABILITIES & EQUITY	$469M
Total Debt	$0
Net Debt	-$255M