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 Noah Education Holdings (NYSE:NED)

Thursday, February 27, 2014

Second Quarter Fiscal 2014 Financial Results

  • Net revenue for the second quarter of fiscal 2014 increased 12.1% year-over-year to RMB70.3 million (US$11.6 million) fromRMB62.7 million.
  • Non-GAAP basic and diluted earnings per share were RMB0.17 (US$0.03) as compared to non-GAAP basic and diluted earnings per share of RMB0.14

Dong Xu, Chairman and Acting Chief Executive Officer of Noah, said, "We are pleased to report that Noah has exceeded our revenue guidance once again, in a traditionally strong second quarter. During the second quarter for fiscal 2014, our primary and secondary schools was our key revenue driver while we continued to ramp up the utilization of our kindergartens as well."

Mr. Xu continued, "Going forward, we remain focused on growing the Company's business organically and plan to roll out two to three new kindergartens in Guangdong and Zhejiang provinces in the third quarter of fiscal 2014, thereby further expanding our existing network."

Ms. Dora Li, Chief Financial Officer, added, "We have achieved a stronger margin this quarter, not only due to a strong revenue contribution, but all the more as a result of our effective cost management in the midst of a wage inflation environment."

Financial Outlook for the Third Quarter and Full Fiscal 2014

Based on current estimates and market conditions, for the third quarter of fiscal 2014, Noah expects to generate net revenue in the range of RMB54 million (US$8.9 million) to RMB57 million (US$9.4 million). For the full fiscal 2014, the Company expects to generate revenue between RMB237 million (US$39.1 million) and RMB251 million (US$41.5 million). This forecast reflects Noah's current and preliminary view, which is subject to change.


Thursday, November 21, 2013

First Quarter Fiscal 2014 Financial Results

  • Net revenue for the first quarter of fiscal 2014 increased 26.8% year-over-year to RMB49.2 million (US$8.0 million) fromRMB38.8 million
  • Non-GAAP basic and diluted losses per share were RMB0.02 (US$0.003) as compared to non-GAAP basic and diluted earnings per share of RMB0.03

Dong Xu, Chairman and Acting Chief Executive Officer of Noah, said, "We are pleased to deliver a strong first quarter for our fiscal year 2014, although the first quarter is a seasonally low season for our business. This is in line with our growth strategy as we have seen a significant increase in our revenues for this quarter through our expanded kindergartens operations, and strong organic growth in primary and secondary schools operations."

Mr. Xu continued, "Going forward, we remain focused on driving growth organically and through acquisitions. The education services industry is one of the few that have a strong resilient nature against economic cycles and we are confident that Noah will reap the full benefits with continuous organic growth through the increasing ramp up of our existing kindergartens and schools, diversifying our service offerings such as early childhood education, and collaborating with real estate developers to explore opportunities to roll out new schools and kindergartens. With our strong cash position, we are also actively pursuing acquisition opportunities to expand our geographic reach in other parts of China."

Dora Li, Chief Financial Officer of Noah, said, "Our margin for the first quarter is typically lower since kindergartens and schools are on summer break, with no revenue being recognized. In addition, costs associated with new kindergarten openings and expansion have increased as expected, causing further pressure on our gross margin in the first quarter. However, we expect this to normalize in the subsequent quarters."

Financial Outlook for the Second Quarter and Full Fiscal 2014

Based on current estimates and market conditions, for the second quarter of fiscal 2014, Noah expects to generate net revenue in the range of RMB66 million (US$9.8 million) to RMB70 million (US$11.4 million). For the full fiscal 2014, the Company expects to generate revenue between RMB237 million (US$38 million) and RMB251 million (US$41 million). This forecast reflects Noah's current and preliminary view, which is subject to change.


Thursday, August 29, 2013

Fourth Quarter Fiscal 2013 Financial Results

  • Net revenue increased 36.7% to RMB63.8 million (US$10.4 million)
  • Gross profit increased 29.7% to RMB30.0 million (US$4.9 million), and gross profit margin was 47.0%
  • Net income was RMB15.9 million (US$2.6 million), compared to a net loss of RMB 54.2million
  • Non-GAAP net income, excluding share based compensation expenses and impairment loss on goodwill and intangible assets, was RMB15.9million (US$2.6 million), compared to a Non-GAAP net income of RMB6.9 million
  • Basic and diluted earnings per share were RMB0.32 (US$0.05) as compared to basic and diluted losses per share of RMB1.57
  • Non-GAAP basic and diluted earnings per share were RMB0.32 (US$0.05) as compared to non-GAAP basic and diluted earnings per share of RMB0.10

Dong Xu, Chairman and Chief Executive Officer of Noah, said, "Our fiscal year 2013 has been a year of phenomenal profitable growth. We are very pleased that Noah has delivered and exceeded internal and external expectations across all operating metrics. Revenue increase for the fourth quarter has been driven by strong growth across all businesses, led by kindergartens at 47%."

Mr. Xu continued, "Noah is focused on providing first-class kindergarten education services, and our acquisitions of DDK Consulting and Xiaoxiao Consulting have proven a successful strategy for the Company, contributing 15.6% revenue growth in the fiscal year.

"Our organic growth has been remarkable with increased utilization across all our schools. Going forward into fiscal 2014, we will continue to drive growth of the Company organically, with focus on cost and operational efficiency to ensure a sustainable and profitable growth. In addition, with Noah's expanded portfolio, we plan to consolidate our multi-brand strategy in kindergarten with an integrated operating platform to enhance kindergarten operation and interaction with the parents of our students, as well as expand our diversified service offering further, which we believe will add long-term value to shareholders." added Mr Xu.

Dora Li, Chief Financial Officer, added, "While the fourth quarter of a fiscal year is typically a strong quarter for Noah, we are pleased to have achieved an improved blended margin of 47%, which have been helped by our operational leverage and successful cost improvement initiatives despite the rising costs of teaching staff affecting the entire sector. Our aim is to maintain a sustainable cost structure that will help Noah remain competitive in the midst of the wage inflation environment."

Financial Outlook for the First Quarter of Fiscal 2014 and Full Fiscal 2014

Based on current estimates and market conditions, for the first quarter of fiscal 2014, Noah expects to generate net revenue in the range of RMB47 million (US$7.6 million) to RMB50 million (US$8.1 million). For the full fiscal 2014, the Company expects to generate revenue between RMB237 million (US$38 million) and RMB251 million (US$41 million). This forecast reflects Noah's current and preliminary view, which is subject to change.


Tuesday, November 20, 2012

First Quarter Fiscal 2013 

  • Net revenue increased 13.5% year-over-year to RMB38.8 million (US$6.2 million)
  • Gross profit decreased by 7.1% year-over-year to RMB15.1 million (US$2.4 million), and gross profit margin was 38.9%
  • Operating loss was RMB5.2 million (US$0.8 million) as compared to an operating loss of RMB1.9 million
  • Net loss was RMB0.07 million (US$0.01 million) as compared to a net income of RMB1.8 million
  • Basic and diluted earnings per share were RMB0.01(US$0.002) as compared to basic and diluted earnings per share of RMB0.02 
  • Non-GAAP basic and diluted earnings per share were RMB0.03 (US$0.004) as compared to a non-GAAP basic and diluted loss per share of RMB0.05.

Commenting on the results, Dong Xu, Chairman and Chief Executive Officer of Noah, said, "We are pleased to deliver another quarter of solid performance driven by our primary and secondary school segment with increasing revenue contribution from the ramp up of new schools and expanded capacities from mature schools.

Mr. Xu continued, "I am also very excited to announce the successful acquisition of the kindergartens from DKK Consulting and the acquisition of XiaoXiao Consulting in this quarter. Following on from this we plan on opening another 4 new kindergartens next quarter, reinforcing the continued success of our core strategy to expand the kindergarten portfolio. With the anticipated new additions, we are pleased to be able to revise our guidance upward to reflect the contribution from these new schools."

"Our strategy remains firmly focused on driving our growth organically and through acquisitions, with the ultimate goal of delivering long-term value to our shareholders."

Dora Li, Chief Financial Officer, added, "The first quarter is usually the low season for schools and kindergartens because of the summer break. In the first quarter of fiscal 2013, we incurred a full month of cost from Yuanbo in July, which was consolidated into the group starting August last year. As a result, this drags down our overall gross margin for the first quarter of fiscal 2013. While we continue our focus on organic and acquisitive growth and ramping up existing schools, we are confident that we will achieve a healthy gross margin and breakeven at operating level for full year fiscal 2013."

Financial Outlook for the Second Quarter of Fiscal 2013 and Upward Revision of Full Fiscal 2013

Based on current estimates, market conditions and the anticipation of revenue contribution from DKK Consulting and Xiaoxiao Consulting, as well as new kindergarten openings, for the second quarter of fiscal 2013, Noah expects to generate net revenue in the range of RMB 54 million (US$8.6 million) to RMB58 million (US$9.2 million). For the full fiscal 2013, the Company expects to generate revenue between RMB 206 million (US$32.8 million) and RMB215 million (US$34.2 million). The upward revision of Full Fiscal 2013 represents an increase of 26% to 32%. This forecast reflects Noah's current and preliminary view, which is subject to change.


Thursday, August 30, 2012

Fourth Quarter Fiscal 2012 Highlights

  • Net revenue increased 57.8% year-over-year to RMB46.7 million (US$7.3 million)
  • Gross profit increased 47.5% year-over-year to RMB23.1 million (US$3.6 million), and gross profit margin was 49.5%
  • Operating loss was RMB54.4 million (US$8.6 million) as compared to an operating loss of RMB9.6 million
  • Non-GAAP operating income, excluding impairment loss on goodwill and intangible assets and share based compensation expenses, was RMB6.6 million (US$1.0 million), compared to an operating loss of RMB4.3 million
  • Net loss was RMB54.2 million (US$8.5 million) as compared to a net loss of RMB38.7 million
  • Non-GAAP net income, excluding impairment loss on goodwill and intangible assets and share based compensation expenses, was RMB6.9 million (US$1.1 million) as compared to non-GAAP net loss of RMB33.3 million
  • Basic and diluted loss per share was RMB1.57 (US$0.25) as compared to basic and diluted loss per share of RMB1.11
  • Non-GAAP basic and diluted earnings per share were RMB0.10 (US$0.02) as compared to a non-GAAP basic and diluted loss per share of RMB0.97

Commenting on the financials, Dora Li, Chief Financial Officer, said, "We are very pleased to see a continued improvement in our gross margin this quarter, and this has put us back on track to achieve breakeven for fiscal 2012. Despite the fact that we made an impairment charge on the valuations of Little News Star and Wentai Education to reflect the decline of fair value in the two brands, our business prospects and financials are continuing to go from strength to strength as evidenced by robust revenue growth and improved profitability at operating level."

Ms. Li continued, "While we will continue to expand our network through organic growth and acquisition, we expect gross margin to maintain at its current level on an annual basis, with operating costs starting to stabilize with a more scalable revenue base. We are confident that we will continue to achieve profitable growth through revenue expansion, and maintain a competitive cost base with the execution of our financial discipline."

Financial Outlook for the First Quarter of Fiscal 2013 and Full Fiscal 2013

Based on current estimates and market conditions, for the first quarter of fiscal 2013, Noah expects to generate net revenue in the range of RMB38 million (US$6.0 million) to RMB41 million(US$6.5 million). For the full fiscal 2013, the Company expects to generate revenue between RMB184 million (US$29.0 million) and RMB190 million (US$29.9 million). This forecast reflects Noah's current and preliminary view, which is subject to change.


Tuesday, February 28, 2012

Second Quarter Fiscal 2012 Financial Highlights

  • Net revenue increased 112.9% year-over-year to RMB44.9 million (US$7.1 million)
  • Gross profit increased 95.4% year-over-year to RMB20.0 million (US$3.2 million), and gross profit margin was 44.5%
  • Operating loss was RMB2.3 million (US$0.4 million), compared to operating loss of RMB7.1 million in the second quarter of fiscal 2011; excluding one-off compensation expenses relating to management resignation amounting to RMB2.8 million, operating income for the second quarter of fiscal 2012 would have been RMB0.5 million.
  • Net income was RMB2.3 million (US$0.4 million), compared to net income of RMB3.1 million in the second quarter of fiscal 2011; excluding one-off compensation expenses relating to management resignation amounting to RMB2.8 million, net income for the second quarter of fiscal 2012 would have been RMB5.1 million
  • Basic and diluted earnings per share were RMB0.03 (US$0.005), compared to basic and diluted earnings per share of RMB0.08 in the second quarter of fiscal 2011 from continuing operations
  • Non-GAAP basic and diluted earnings per share were RMB0.06 (US$0.009) from continuing operations, compared to non-GAAP basic and diluted earnings per share of RMB0.12 in the second quarter of fiscal 2011

Financial Outlook for Full Fiscal 2012 and for the Third Quarter of Fiscal 2012

Based on current estimates and market conditions, for the third quarter of fiscal 2012, Noah expects to generate net revenue in the range of RMB30 million (US$4.8 million) to RMB32 million (US$5.4 million). For the full fiscal 2012, the Company continues to expect to generate revenue between RMB145 million (US$23.4 million) andRMB155 million (US$24.9 million). This forecast reflects Noah's current and preliminary view, which is subject to change.


Friday, November 18, 2011

First Quarter 2012 Results

  • Net revenue increased 73.8% year-over-year to RMB34.2 million (US$5.4 million)
  • Gross profit increased 37.9% year-over-year to RMB16.2 million (US$2.5 million), and gross profit margin was 47.5%
  • Operating loss was RMB1.9 million (US$0.3 million), compared to an operating loss of RMB3.1 million in the first quarter of fiscal 2011
  • Net income was RMB1.8 million (US$0.3 million), compared to net income of RMB8.4 million in the first quarter of fiscal 2011. There was a RMB9.4 million one-off foreign exchange gain as a result of US dollar depreciation on intercompany loans in the same period fiscal 2011.
  • Basic and diluted earnings per share were RMB0.02 (US$0.003), compared to basic and diluted earnings per share of RMB0.21 in the first quarter of fiscal 2011 from continuing operations
  • Non-GAAP basic and diluted earnings per share were RMB0.05 (US$0.008), compared to non-GAPP basic and diluted earnings per share of RMB0.25 (US$0.03) in the first quarter of fiscal 2011 from continuing operations

Commenting on the results, Jerry He, Chief Executive Officer of Noah, said, "We are delighted to start the fiscal year with strong year-over-year growth of 73.8% in revenue reaching the higher range of guidance, and resumed profit in the first quarter after completion of transformation as guided. The robust results reflected that Wentai Education ("Wentai") and Little New Star ("LNS") continued to deliver anticipated strong growth and Yuanbo Education ("Yuanbo"), acquired in July, provided acquisitive growth driver. The results also reflected our execution of the expansion plan to open a total of four kindergartens and one school in three businesses as scheduled, which further fuelled the organic growth momentum. Together we now operate a total of 33 kindergartens, 5 schools, and 15 learning centers in 16 cities in China."

"Looking ahead, our pre-school, private primary and secondary school and supplementary education businesses will continue to see robust growth driven by rising demand for high quality services and favorable demand and supply imbalance. With a highly visible business nature, evident by our strong deferred revenue, we are confident that we will continue to have strong growth in the second quarter and meet our full year guidance. In the next quarter, we will focus on improving operating efficiency and enhancing margins, while continuing to pursue organic growth as well as acquisition opportunities with our strong cash position. We are committed to accelerating business growth with focus on sustainability and profitability so as to enhance shareholders value in the long term."

Financial Outlook for Full Fiscal 2012 and for the Second Quarter of Fiscal 2012

Based on current estimates and market conditions, for the first quarter of fiscal 2012, Noah expects to generate net revenue in the range of RMB35 million (US$5.5 million) to RMB37 million (US$5.8 million). For the full fiscal 2012, the Company continues to expect to generate revenue between RMB145 million (US$22.7 million) and RMB155 million (US$24.3 million). This forecast reflects Noah's current and preliminary view, which is subject to change.


Wednesday, October 12, 2011

SHENZHEN, China, October 12, 2011 /PRNewswire-Asia/ -- Noah Education Holdings Ltd. (NYSE: NED) ("Noah" or "the Company"), a leading provider of education services in China, today announced that it has received the final installment of RMB30 million, representing 30% of the total purchase price of RMB100 million, net of certain price adjustments pursuant to the acquisition agreement, for the sale of its Electronic Learning Products ("ELP") business and operating assets to First Win Technologies Ltd. ("First Win"), a company wholly owned by Noah co-founder, former President and Chief Operating Officer Mr. Benguo Tang. The Company completed the sale of its ELP business on June 9, 2011.

Chief Executive Officer Jerry He said, "The completion of the sale of the ELP business heralds the start of an exciting new chapter in Noah's history, as we can now focus exclusively on extending our track record of profitable growth within the education services space. China's rapidly growing, fragmented and underpenetrated education services market provides a wealth of opportunities for Noah to leverage its extensive industry expertise and healthy cash balance to continue to achieve organic and acquisitive growth within this stable, high-margin and high-visibility segment."


Wednesday, August 31, 2011

Fourth Quarter 2011 Results

  • Net revenue from the education services business (continuing business) increased 186.4% year-over-year to RMB29.6million (US$4.6 million), exceeding guidance.
  • Non-GAAP basic and diluted losses per share were RMB0.97 (US$0.15), compared to non-GAPP basic and diluted losses per share of RMB0.01 in the fourth quarter of fiscal 2010.

Commenting on the results, Jerry He, Chief Executive Officer of Noah Educations, said, "We are delighted to finish fiscal year 2011 with a brand new chapter for Noah. With the completion of the acquisition of Yuanbo Education and divestment of the ELP business, Noah has transformed into a pure education services company and firmly established our footprint in the education services segment. Further to the exciting business progress, we are very pleased to report that Noah, the two education service arms LNS and Wentai Education continued to demonstrate the anticipated profitable growth potential, strong margin and highly visible business model, by delivering a 186% and 189% net revenue and gross profit growth in the fourth quarter, concluding the fiscal year 2011 and paving for fiscal year 2012 with a strong growth momentum."

"Looking ahead, our strategic priorities will continue to be driving organic growth from LNS and Wentai Education; integrating and optimizing growth from the newly acquired Yuanbo Education and expanding our presence in the primary, secondary and supplemental education services business, while further increasing the company's presence to capture the promising growth prospects of the education services industry in China."

Financial Outlook for Full Fiscal 2012 and for the First Quarter of Fiscal 2012

Based on current estimates and market conditions, for the first quarter of fiscal 2012, Noah expects to generate net revenue in the range of RMB33 million (US$5.1million) to RMB35 million (US$5.4million). For the full fiscal 2012, the Company expects to generate revenue between RMB145 million (US$22.4 million) and RMB155 million (US$23.9 million). This forecast reflects Noah's current and preliminary view, which is subject to change.


Friday, May 13, 2011

 ThirdQuarter Results:

  • Net revenue for the quarter decreased by 71.3% to RMB72.7 million (US$11.1 million), compared with RMB253.7 million in the third quarter of fiscal 2010
  • Net loss was RMB290.9 million (US$44.4 million) compared with net income of RMB36.0 million in the third quarter of fiscal 2010
  • Non-GAAP basic and diluted losses per share, excluding share-based compensation expenses, were RMB7.99 (US$1.22), compared with basic and diluted earnings per share of RMB1.00 and RMB0.98 respectively for the third quarter of fiscal 2010

Commenting on the results, Mr. Jerry He, Noah's Chief Executive Officer ("CEO"), said, "Our education services business continued to enjoy profitable growth during the third fiscal quarter, with 115.5% top-line expansion translating into 158.2% net income growth. This quarter, we benefitted from an increased contribution from Wentai Education as the attractive margin profile of this business enabled our bottom line to outpace revenue growth.  As we continue to expand the Wentai brand, we look forward to building on this trend of profitable growth within the education services space.

Based on current estimates and market conditions, Noah expects to generate in the range of RMB24.5 million (US$3.7 million) to RMB26 million (US$4.0 million) in revenue from education services for the fourth quarter of fiscal 2011. For the full fiscal year 2011, Noah expects to generate education services revenue between RMB88.5 million (US$13.5 million) and RMB90 million (US$13.7 million).


Tuesday, March 1, 2011

Second Quarter Highlights:

  • Net revenue for the quarter decreased by 58.6% to RMB64.2 million (US$9.7 million), compared with RMB154.9 million in the second quarter of fiscal 2010
  • Gross profit was RMB17.0 million (US$2.6 million), a 76.9% decrease compared with RMB73.5 million in the second quarter of fiscal 2010
  • Net loss was RMB53.4 million (US$8.1 million), compared with net income of RMB15.4 million in the second quarter of fiscal 2010
  • Non-GAAP basic and diluted losses per share, excluding share-based compensation expenses, were RMB1.38 (US$0.21) respectively, compared with basic and diluted earnings per share of RMB0.47 and RMB0.46 respectively for the second quarter of fiscal 2010

Commenting on the results, Mr. Xu Dong, Noah's Chairman and Chief Executive Officer, said, "In the second quarter of fiscal 2011, we witnessed a very strong performance within our education services business, as revenue for this segment grew 264% year-over-year and exceeded our guidance.

Based on current estimates and market conditions, Noah expects to generate in the range of RMB22 million (US$3.3 million) to RMB23 million (US$3.5 million) in revenue from education services for the third quarter of fiscal 2011.


Tuesday, August 31, 2010

Fourth Quarter Fiscal 2010 Financial Highlights:

  • Net revenue for the quarter decreased by 71.9% to RMB33.5 million (US$4.9 million), compared with RMB119.1 million in the fourth quarter of fiscal 2009.
  • Net loss was RMB83.5 million (US$12.3 million), compared with net income of RMB17.9 million in the fourth quarter of fiscal 2009.
  • Basic and diluted loss per share were RMB2.19 (US$0.32) and RMB2.15 (US$0.32) respectively, compared with basic and diluted earnings per share of RMB0.50 for the fourth quarter of fiscal 2009.
  • Non-GAAP basic and diluted loss per share, excluding share-based compensation expense, were RMB2.13 (US$0.31) and RMB2.09 (US$0.31) respectively, compared with basic and diluted earnings per share of RMB0.57 (US$0.08) for the fourth quarter of fiscal 2009

Financial Outlook for First Quarter of Fiscal Year 2011:

  • Net revenue in the range of RMB123 million (US$18.1 million) to RMB129 million (US$19.0 million) for the first quarter of fiscal 2011, which includes RMB102.5 million to RMB106.5 million from the traditional ELP business, RMB12.5 million to RMB13.5 million from the LNS business and RMB 8 million to 9 million from Wentai Education (August 30 - September 30, 2010).
  • Basic loss per share in the first quarter of fiscal 2011 is expected to be in the range of RMB0.32 (US$0.05) to RMB0.38 (US$0.06)

Wednesday, August 11, 2010

Net loss for the second quarter of 2010 was RMB13 million (US$2 million). This compares to net income of RMB30 million for the same period in 2009. The total number of outstanding ordinary shares of the Company as of June 30, 2010 was 211 million. The weighted average number of ADSs for the second quarter of 2010 was 105.5 million. One ADS represents two ordinary shares.

 Mr. Jason Wu commented, "We believe our strategic transition will not only help us improve the status quo of weak per store output and hence upgrade store profitability, but will also serve as a defensive mechanism to mitigate the negative impact of government policies on drug prices."  

    "Industry data is projecting attractive potential growth rates for sales of household consumables, as inflation of food prices and urban expansion continues throughout China. We believe that our established store footprint, proven central procurement program, advanced computer inventory replenishment systems and well-developed logistics network will enable us to develop a successful non-pharmaceutical line of business and provide the maximum level of convenience and value to our customers."


Friday, August 28, 2009

Mr. Dong Xu, Noah's chairman and chief executive officer, said, 'We are pleased to report solid year-over-year increases in revenue for both the fourth quarter and full fiscal year 2009, as we exceeded previously stated guidance for the fourth quarter. Our margin performance is evidence of our ability to execute our growth strategy while also keeping a vigilant eye on costs. We continue to improve the efficiency of our distribution channels, and we will consistently monitor our operations to uncover new ways to streamline our operations while maintaining strong revenue performance.

Fiscal 1st Quarter 2010 Guidance Ending September a

  Fiscal 1st Quarter 2010 Guidance Fiscal 1st Quarter 2009 Reported Period Change
GAAP Revenue RMB231  to RMB237 million RMB202.6 million 14.0% to 17.0%

Source: See Release, August 24, 2009

aThe above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.



Monday, June 22, 2009

''Our continued focus on executing our business strategy has enabled us to deliver another quarter of solid results, as we once again exceeded our top line guidance,' said Rick Chen, Noah's executive vice president. 'The 16.5% net revenue growth was primarily attributable to the strong momentum in our KLD products. We anticipate KLD margins will continue to improve and expect KLD to remain one of our primary near-term growth drivers.''

4th Quarter Fiscal 2009 Guidance Ending June

  4th Quarter 2009 Guidance

4th QUARTER 2008

Period Change
GAAP Revenue RMB114 to RMB116 million RMB98 million 16% to 18%

Source: See Release

a Company forecasts reflects the Company's current and preliminary view, which is subject to change.


Tuesday, December 23, 2008

GeoInvesting Third Quarter Guidance Report

Financial Outlook for Second Quarter of Fiscal Year 2009:

 Based on current estimates and market conditions, Noah expects net revenue to be in the range of RMB132 million to RMB134 million, and net income to be in the range of RMB9 million and RMB10 million for the second quarter of fiscal 2009. This forecast reflects Noah's current and preliminary view, which is subject to change.

Converting this guidance into Dollars based on the Yen to Dollar exchange rate(6.84 YEN:$1 USD) as of 12/23/2008 yields:

Revenue:  $19.30 Million to $19.59 Million

Net Income:  $1.32 Million to $1.46 Million

 Source: PR Newswire (November 20, 2008)