EDU FY 2011 Earnings Report — New Oriental Education & Technology Group Inc. Revenue & Financial Results | Market Cap Arena

New Oriental Education & Technology Group Inc.EDU

FY 2011 Earnings

Reported October 14, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$558M	—	$386M	—	44.4%
Op. Income	$96M	—	$77M	—	23.5%
Gross Margin	60.1%	—	61.9%	—	-1.8pp
Net Margin	18.2%	—	20.1%	—	-1.9pp
EPS (Diluted)	$0.65	—	$0.50	—	30.0%
Free Cash Flow	$166M	—	$122M	—	35.9%

Revenue Flow

Item	Amount
REVENUE	$558M
Cost of Revenue	$223M
GROSS PROFIT	$335M
R&D Expenses	$0
Selling & Marketing	$83M
General & Administrative	$155M
SG&A Expenses	$238M
Other Expenses	$0
Operating Expenses	$238M
Cost & Expenses	$461M
OPERATING INCOME	$96M
Interest Income	$13M
Interest Expense	$0
Other Income/Expenses	$14M
INCOME BEFORE TAX	$110M
Income Tax Expense	$8M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$102M
D&A	$17M
EBIT	$110M
EBITDA	$127M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$558M
Cost of Revenue	$223M
GROSS PROFIT	$335M
R&D Expenses	$0
Selling & Marketing	$83M
General & Administrative	$155M
SG&A Expenses	$238M
Other Expenses	$0
Operating Expenses	$238M
Cost & Expenses	$461M
OPERATING INCOME	$96M
Interest Income	$13M
Interest Expense	$0
Other Income/Expenses	$14M
INCOME BEFORE TAX	$110M
Income Tax Expense	$8M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$102M
D&A	$17M
EBIT	$110M
EBITDA	$127M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$102M
Depreciation & Amortization	$17M
Stock-Based Compensation	$15M
Deferred Income Tax	-$1M
Other Non-Cash Items	$2M
Change in Working Capital	$81M
OPERATING CASH FLOW	$216M
Capital Expenditure	-$50M
Acquisitions (Net)	-$631.0K
Purchases of Investments	-$140M
Sales/Maturities of Investments	$1M
Other Investing Activities	-$9M
NET CASH FROM INVESTING	-$198M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$6M
FREE CASH FLOW	$166M
Net Change in Cash	$36M

Balance Sheet

Item	Amount
Cash & Equivalents	$317M
Short-Term Investments	$296M
Net Receivables	$9M
Inventory	$25M
Other Current Assets	$788.0K
TOTAL CURRENT ASSETS	$675M
PP&E (Net)	$160M
Goodwill	$8M
Intangible Assets	$8M
Long-Term Investments	$2.0K
Tax Assets	$997.0K
Other Non-Current Assets	$11M
TOTAL NON-CURRENT ASSETS	$188M
TOTAL ASSETS	$863M
Account Payables	$10M
Short-Term Debt	$0
Deferred Revenue	$194M
Other Current Liabilities	$51M
TOTAL CURRENT LIABILITIES	$288M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1M
TOTAL LIABILITIES	$289M
Common Stock	$2M
Additional Paid-In Capital	$187M
Retained Earnings	$323M
Treasury Stock	$0
Accum. Other Comp. Income	$47M
Other Equity	$16M
TOTAL STOCKHOLDERS' EQUITY	$574M
Minority Interest	$0
TOTAL EQUITY	$574M
TOTAL LIABILITIES & EQUITY	$863M
Total Debt	$0
Net Debt	-$317M