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TAL Education profit misses consensus by 39.7% in fiscal Q3

TAL Education Group said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, amounted to 1 cents per share, compared with the S&P Capital IQ consensus estimate of 2 cents per share.

EPS climbed 7.0% year over year from 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.0 million, an increase of 7.3% from $6.5 million in the prior-year period.

The normalized profit margin fell to 4.9% from 6.5% in the year-earlier period.

Total revenue increased 43.1% year over year to $142.2 million from $99.4 million, and total operating expenses grew 45.5% year over year to $132.6 million from $91.1 million.

Reported net income fell 13.9% from the prior-year period to $9.9 million, or 2 cents per share, from $11.5 million, or 2 cents per share.