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TAL Education profit misses consensus by 35.6% in fiscal Q2


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TAL Education profit misses consensus by 35.6% in fiscal Q2

TAL Education Group said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS increased 9.7% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $23.8 million, a gain of 10.6% from $21.5 million in the year-earlier period.

The normalized profit margin dropped to 13.7% from 17.6% in the year-earlier period.

Total revenue rose 41.6% on an annual basis to $173.3 million from $122.4 million, and total operating expenses grew 46.0% from the prior-year period to $134.1 million from $91.9 million.

Reported net income increased from the prior-year period to $65.7 million, or 12 cents per share, from $30.8 million, or 6 cents per share.