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TAL Education profit misses consensus by 35.0% in fiscal Q1

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TAL Education profit misses consensus by 35.0% in fiscal Q1

TAL Education Group said its normalized net income for the fiscal first quarter ended May 31 came to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS increased 32.9% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $14.8 million, a gain of 50.4% from $9.9 million in the year-earlier period.

The normalized profit margin increased to 11.5% from 11.1% in the year-earlier period.

Total revenue grew 45.3% year over year to $129.4 million from $89.0 million, and total operating expenses climbed 45.7% from the prior-year period to $109.8 million from $75.4 million.

Reported net income rose 55.5% from the prior-year period to $20.1 million, or 4 cents per share, from $12.9 million, or 3 cents per share.