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TAL Education profit misses consensus by 55.0% in fiscal Q3

TAL Education Group said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, amounted to 1 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

EPS decreased 28.9% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.5 million, a decrease of 27.4% from $9.0 million in the prior-year period.

The normalized profit margin fell to 6.5% from 12.2% in the year-earlier period.

Total revenue increased 35.1% year over year to $99.4 million from $73.5 million, and total operating expenses climbed 47.9% on an annual basis to $91.1 million from $61.6 million.

Reported net income decreased 10.9% on an annual basis to $11.5 million, or 2 cents per share, from $12.9 million, or 3 cents per share.