- Quarterly Results:
Net Revenues up by 18.0% Year-Over-Year
Loss from Operations was
Non-GAAP Loss from Operations was
Total Student Enrollments of Normal Priced Long-term Course up by 56.6% Year-Over-Year
- Fiscal Year Results:
Net Revenues up by 27.7%
Income from Operations was
Non-GAAP Income from Operations was
Quarterly Average Student Enrollments of Normal Priced Long-term Course up by 55.2% Year-Over-Year
Highlights for the Fourth Quarter of Fiscal Year 2020
- Net revenues increased by 18.0% year-over-year to
US$857.7 million fromUS$726.6 million in the same period of the prior year. - Loss from operations was
US$41.3 million , compared to income from operations ofUS$114.7 million in the same period of the prior year. - Non-GAAP loss from operations, which excluded share-based compensation expenses, was
US$8.4 million , compared to Non-GAAP income from operations ofUS$137.0 million in the same period of the prior year. - Net loss attributable to TAL was
US$90.1 million , compared to net income attributable to TAL ofUS$99.6 million in the same period of the prior year. - Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was
US$57.2 million , compared to Non-GAAP net income attributable to TAL ofUS$121.9 million in the same period of the prior year. - Basic and diluted net loss per American Depositary Share ("ADS") were both
US$0.15 . Non-GAAP basic and diluted net loss per ADS, which excluded share-based compensation expenses, were bothUS$0.10 . Three ADSs represent one Class A common share. - Cash, cash equivalents and short-term investments totaled
US$2,219.3 million as ofFebruary 29, 2020 , compared toUS$1,515.6 million as ofFebruary 28, 2019 . - Total student enrollments of normal priced long-term course increased by 56.6% year-over-year to approximately 4,646,040 from approximately 2,966,400 in the same period of the prior year.
Highlights for the Fiscal Year Ended
- Net revenues increased by 27.7% year-over-year to
US$3,273.3 million fromUS$2,563.0 million in fiscal year 2019. - Income from operations decreased by 59.8% to
US$137.4 million fromUS$341.6 million in fiscal year 2019. - Non-GAAP income from operations, which excluded share-based compensation expenses, decreased by 39.0% to
US$255.4 million fromUS$418.9 million in fiscal year 2019. - Net loss attributable to TAL was
US$110.2 million , compared to net income attributable to TAL ofUS$367.2 million in fiscal year 2019. - Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was
US$7.7 million , compared to Non-GAAP net income attributable to TAL ofUS$444.5 million in fiscal year 2019. - Basic and diluted net loss per ADS were both
US$0.19 . Non-GAAP basic and diluted net income per ADS, excluding share-based compensation expenses, were bothUS$0.01 . - Average student enrollments of normal priced long-term course per quarter during fiscal year 2020 increased by 55.2% year-over-year to approximately 3,023,840 from approximately 1,948,350 in fiscal year 2019.
- Total physical network increased from 676 learning centers in 56 cities as of
February 28, 2019 to 871 learning centers in 70 cities as ofFebruary 29, 2020 .
Financial and Operating Data——Fourth Quarter and Fiscal Year 2020
(In US$ thousands, except per ADS data, student enrollments and percentages)
Three Months Ended |
|||
February 28/29, |
|||
2019 |
2020 |
Pct. Change |
|
Net revenues |
726,561 |
857,682 |
18.0% |
Operating income/(loss) |
114,706 |
(41,256) |
(136.0%) |
Non-GAAP operating income/(loss) |
136,981 |
(8,392) |
(106.1%) |
Net income/(loss) attributable to TAL |
99,612 |
(90,074) |
(190.4%) |
Non-GAAP net income/(loss) attributable to TAL |
121,887 |
(57,210) |
(146.9%) |
Net income/(loss) per ADS attributable to TAL – basic |
0.17 |
(0.15) |
(186.8%) |
Net income/(loss) per ADS attributable to TAL – |
0.17 |
(0.15) |
(191.1%) |
Non-GAAP net income/(loss) per ADS attributable to |
0.21 |
(0.10) |
(145.0%) |
Non-GAAP net income/(loss) per ADS attributable to |
0.20 |
(0.10) |
(147.3%) |
Total Student Enrollments of normal priced long-term |
2,966,400 |
4,646,040 |
56.6% |
Fiscal Year Ended |
|||
February 28/29, |
|||
2019 |
2020 |
Pct. Change |
|
Net revenues |
2,562,984 |
3,273,308 |
27.7% |
Operating income |
341,582 |
137,443 |
(59.8%) |
Non-GAAP operating income |
418,859 |
255,386 |
(39.0%) |
Net income/(loss) attributable to TAL |
367,236 |
(110,195) |
(130.0%) |
Non-GAAP net income attributable to TAL |
444,513 |
7,748 |
(98.3%) |
Net income/(loss) per ADS attributable to TAL – basic |
0.64 |
(0.19) |
(128.8%) |
Net income/(loss) per ADS attributable to TAL – |
0.61 |
(0.19) |
(130.3%) |
Non-GAAP net income per ADS attributable to TAL – |
0.78 |
0.01 |
(98.3%) |
Non-GAAP net income per ADS attributable to TAL – |
0.74 |
0.01 |
(98.3%) |
Average Student Enrollments of normal priced long- |
1,948,350 |
3,023,840 |
55.2% |
"Our fourth fiscal quarter revenue performance was impacted by the outbreak of COVID-19 and the resulting precautionary measures with respect to our offline business. The negative impact on our offline business was partially offset by the growth in student enrollments in online courses and related revenues for the quarter," said
"We maintain the utmost caution for the safety and health of all our students and employees and make any short-term adjustments to our business operations when needed. For the longer term, as an established and one of the leading companies in
Financial Results for the Fourth Quarter of Fiscal Year 2020
Net Revenues
In the fourth quarter of fiscal year 2020, TAL reported net revenues of
Operating Costs and Expenses
In the fourth quarter of fiscal year 2020, operating costs and expenses were
Cost of revenues increased by 32.6% to
Selling and marketing expenses increased by 78.6% to
General and administrative expenses increased by 30.5% to
Total share-based compensation expenses allocated to the related operating costs and expenses increased by 47.5% to
Impairment loss on intangible assets and goodwill was
Gross Profit
Gross profit increased by 7.5% to
Income/(loss) from Operations
Loss from operations was
Other Income/(Expense)
Other expense was
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was
Income Tax Expense
Income tax expense was
Net Income/(loss) Attributable to
Net loss attributable to TAL was
Basic and Diluted Net Income/(loss) per ADS
Basic and diluted net loss per ADS were both
Capital Expenditures
Capital expenditures for the fourth quarter of fiscal year 2020 were
Cash, Cash Equivalents, and Short-Term Investments
As of
Deferred Revenue
As of
Financial Results for the Fiscal Year Ended
Net Revenues
For fiscal year 2020, TAL reported net revenues of
Operating Costs and Expenses
In fiscal year 2020, operating costs and expenses were
Cost of revenues grew by 26.1% to
Selling and marketing expenses increased by 76.2% to
General and administrative expenses increased by 37.1% to
Total share-based compensation expenses allocated to the related operating costs and expenses increased by 52.6% to
Impairment loss on intangible assets and goodwill was
Gross Profit
Gross profit grew by 29.0% to
Income/(loss) from Operations
Income from operations decreased by 59.8% to
Other Income/(Expense)
Other expense was
Impairment Loss on Long-term Investments
Impairment loss on long-term investments was
Income Tax Expense
Income tax expense was
Net Income/(loss) Attributable to
Net loss attributable to TAL was
Basic and Diluted Net Income/(loss) per ADS
Basic and diluted net loss per ADS were both
Capital Expenditures
Capital expenditures for fiscal year 2020 were
Business Outlook
Based on our current estimates, total net revenues for the first quarter of fiscal year 2021 are expected to be between
If not taking into consideration the impact of potential change in exchange rate between Renminbi and the
These estimates reflect the Company's current expectation, which is subject to change.
Recent Developments
TAL today announced that it had recently entered into a definitive agreement to further invest
Previously Released Unaudited Quarterly Financial Statements
As TAL previously announced on
Adoption of Share Repurchase Plan
On
This share repurchases may be made by the Company and/or its management from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/ or through other legally permissible ways in accordance with applicable rules and regulations. The timing and extent of any purchases will depend upon market conditions, the trading price of ADSs and other factors. TAL's board of directors will review the share repurchase plan periodically and may authorize adjustment to its terms and size accordingly. TAL plans to fund any share repurchases made under this plan from the Company's available cash balance.
Conference Call
The Company will host a conference call and live webcast to discuss its financial results for the fourth fiscal quarter of fiscal year 2020 ended
Please note that you will need to pre-register for conference call participation, using the link provided below. Upon registering, you will be sent participant dial-in numbers, Direct Event passcode and unique registrant ID by email.
Conference call registration link: http://apac.directeventreg.com/registration/event/1398186. It will automatically direct you to the registration page of "TAL Education Group Fourth Quarter and Fiscal Year 2020 Earnings Conference Call", where you may fill in your details for RSVP. When you are requested to submit a participant conference ID, please enter the number "1398186".
In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), Direct Event passcode and unique registrant ID) provided in the confirmation email that you have received following your pre-registration.
A live and archived webcast of the conference call will be available on the Investor Relations section of TAL's website at https://ir.100tal.com/.
A telephone replay of the conference call will be available through
The dial-in details for the replay are as follows:
- |
+1-855-452-5696 |
- |
800-963-117 |
- International toll: |
+61-2-8199-0299 |
Conference ID: |
1398186 |
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
About
We also operate www.jzb.com, a leading online education platform in
About Non-GAAP Financial Measures
In evaluating its business, TAL considers and uses the following measures defined as non-GAAP financial measures by the
TAL believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses that may not be indicative of its operating performance from a cash perspective. TAL believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to TAL's historical performance and liquidity. TAL computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. TAL believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a significant recurring expense in the Company's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.
For further information, please contact:
Investor Relations
Tel: +86 10 5292 6658
Email: ir@100tal.com
IR Inside
Tel: +31 6 5462 4301
Email: info@irinside.com
|
||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
||||
(In thousands of |
||||
As of |
As of |
|||
|
|
|||
2019 |
2020 |
|||
ASSETS |
||||
Current assets |
||||
Cash and cash equivalents |
|
|
||
Restricted cash-current |
9,227 |
28,084 |
||
Short-term investments |
268,424 |
345,457 |
||
Inventory |
7,750 |
25,832 |
||
Amounts due from related parties-current |
3,341 |
3,642 |
||
Income tax receivables |
7,204 |
11,548 |
||
Prepaid expenses and other current assets |
202,630 |
207,352 |
||
Total current assets |
1,745,716 |
2,495,781 |
||
Restricted cash-non-current |
7,334 |
13,235 |
||
Amounts due from related parties-non-current |
1,747 |
- |
||
Property and equipment, net |
287,877 |
366,656 |
||
Deferred tax assets-non-current |
29,179 |
79,534 |
||
Rental deposits |
56,135 |
72,721 |
||
Intangible assets, net |
74,776 |
58,985 |
||
Land use right, net |
- |
204,853 |
||
|
414,228 |
378,913 |
||
Long-term investments |
850,695 |
571,601 |
||
Long-term prepayments and other non-current assets |
267,404 |
85,275 |
||
Operating lease right-of-use assets |
- |
1,243,692 |
||
Total assets |
|
|
||
LIABILITIES AND EQUITY |
||||
Current liabilities |
||||
Accounts payable (including accounts payable of the |
|
|
||
Deferred revenue-current (including deferred revenue-current |
433,610 |
780,167 |
||
Amounts due to related parties-current (including amounts due |
24,375 |
4,361 |
||
Accrued expenses and other current liabilities (including |
365,195 |
552,650 |
||
Income tax payable (including income tax payable of the |
38,743 |
46,650 |
||
Short-term debt and current portion of long-term debt |
210,027 |
- |
||
Bond payable, current portion (including bond payable, current |
5,275 |
- |
||
Operating lease liabilities, current portion (including |
- |
304,960 |
||
Total current liabilities |
1,183,718 |
1,806,558 |
||
Deferred revenue-non-current (including deferred revenue- |
2,497 |
833 |
||
Amounts due to related parties-non-current (including amounts |
196 |
- |
||
Deferred tax liabilities-non-current (including deferred tax |
17,738 |
7,789 |
||
Other non-current liabilities (including other non-current |
465 |
- |
||
Long-term debt (including long-term debt of the consolidated |
- |
261,950 |
||
Operating lease liabilities, non-current portion (including |
- |
949,919 |
||
Total liabilities |
1,204,614 |
3,027,049 |
||
Equity |
||||
Class A common shares |
127 |
133 |
||
Class B common shares |
71 |
67 |
||
Class A common shares issuable |
1,977 |
- |
||
Additional paid-in capital |
1,485,521 |
1,675,640 |
||
Statutory reserve |
58,690 |
82,712 |
||
Retained earnings |
920,314 |
786,097 |
||
Accumulated other comprehensive income/(loss) |
17,047 |
(28,913) |
||
|
2,483,747 |
2,515,736 |
||
Noncontrolling interest |
46,730 |
28,461 |
||
Total equity |
2,530,477 |
2,544,197 |
||
Total liabilities and equity |
|
|
|
|||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
(In thousands of |
|||||||
For the Three Months Ended |
For the Fiscal Year Ended |
||||||
February 28/29, |
February 28/29, |
||||||
2019 |
2020 |
2019 |
2020 |
||||
Net revenues |
|
|
|
|
|||
Cost of revenues (note 1) |
306,174 |
405,882 |
1,164,454 |
1,468,569 |
|||
Gross profit |
420,387 |
451,800 |
1,398,530 |
1,804,739 |
|||
Operating expenses (note 1) |
|||||||
Selling and marketing |
136,196 |
243,204 |
484,000 |
852,808 |
|||
General and administrative |
169,553 |
221,245 |
579,672 |
794,957 |
|||
Impairment loss on intangible |
|||||||
assets and goodwill |
- |
28,998 |
- |
28,998 |
|||
Total operating expenses |
305,749 |
493,447 |
1,063,672 |
1,676,763 |
|||
Government subsidies |
68 |
391 |
6,724 |
9,467 |
|||
Income/(loss) from operations |
114,706 |
(41,256) |
341,582 |
137,443 |
|||
Interest income |
10,285 |
19,430 |
59,614 |
72,991 |
|||
Interest expense |
(5,747) |
(3,857) |
(17,628) |
(11,820) |
|||
Other income/(expense) |
24,706 |
(4,679) |
131,727 |
(95,297) |
|||
Impairment loss on long-term |
(7,247) |
(2,774) |
(58,091) |
(153,970) |
|||
Income/(loss) before income tax |
136,703 |
(33,136) |
457,204 |
(50,653) |
|||
Income tax expense |
(33,236) |
(63,592) |
(76,504) |
(69,328) |
|||
Loss from equity method investments |
(5,114) |
(1,775) |
(16,186) |
(7,670) |
|||
Net income/(loss) |
|
|
|
|
|||
Add: Net loss attributable to |
1,259 |
8,429 |
2,722 |
17,456 |
|||
Total net income/(loss) |
|
|
|
|
|||
Net income/(loss) per common |
|||||||
Basic |
|
|
|
|
|||
Diluted |
0.5 |
(0.45) |
1.83 |
(0.56) |
|||
Net income/(loss) per ADS |
|||||||
Basic |
|
|
|
|
|||
Diluted |
0.17 |
(0.15) |
0.61 |
(0.19) |
|||
Weighted average shares used in |
|||||||
Basic |
191,020,638 |
199,095,944 |
189,951,643 |
198,184,370 |
|||
Diluted |
200,670,945 |
199,095,944 |
200,224,934 |
198,184,370 |
|||
Note1: Share-based compensation expenses are included in the operating costs and expenses as follows: |
|||||||
For the Three Months |
For the Fiscal Year |
||||||
Ended February 28/29, |
Ended February 28/29, |
||||||
2019 |
2020 |
2019 |
2020 |
||||
Cost of revenues |
|
|
|
|
|||
Selling and marketing expenses |
3,331 |
6,405 |
10,454 |
19,356 |
|||
General and administrative expenses |
18,744 |
26,217 |
66,117 |
97,513 |
|||
Total |
|
|
|
|
|||
Note 2: Three ADSs represent one Class A common Share. |
|
|||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF |
|||||||
(In thousands of |
|||||||
For the Three Months Ended |
For the Fiscal Year Ended |
||||||
February 28/29, |
February 28/29, |
||||||
2019 |
2020 |
2019 |
2020 |
||||
Net income/(loss) |
|
|
|
|
|||
Other comprehensive |
53,507 |
5,703 |
(116,237) |
(47,825) |
|||
Comprehensive income/(loss) |
151,860 |
(92,800) |
248,277 |
(175,476) |
|||
Add: Comprehensive loss |
694 |
8,236 |
3,681 |
19,321 |
|||
Comprehensive income/(loss) |
|
|
|
|
|
|||||||
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures |
|||||||
(In thousands of |
|||||||
For the Three Months |
For the Fiscal Year |
||||||
Ended February 28/29, |
Ended February 28/29, |
||||||
2019 |
2020 |
2019 |
2020 |
||||
Cost of revenues |
|
|
|
|
|||
Share-based compensation expense |
200 |
242 |
706 |
1,074 |
|||
Non-GAAP cost of revenues |
305,974 |
405,640 |
1,163,748 |
1,467,495 |
|||
Selling and marketing expenses |
136,196 |
243,204 |
484,000 |
852,808 |
|||
Share-based compensation expense |
3,331 |
6,405 |
10,454 |
19,356 |
|||
Non-GAAP selling and marketing expenses |
132,865 |
236,799 |
473,546 |
833,452 |
|||
169,553 |
221,245 |
579,672 |
794,957 |
||||
General and administrative expenses |
|||||||
Share-based compensation expense |
18,744 |
26,217 |
66,117 |
97,513 |
|||
Non-GAAP general and |
150,809 |
195,028 |
513,555 |
697,444 |
|||
Operating costs and expenses |
611,923 |
899,329 |
2,228,126 |
3,145,332 |
|||
Share-based compensation expense |
22,275 |
32,864 |
77,277 |
117,943 |
|||
Non-GAAP operating costs and |
589,648 |
866,465 |
2,150,849 |
3,027,389 |
|||
Income/(loss) from operations |
114,706 |
(41,256) |
341,582 |
137,443 |
|||
Share based compensation expenses |
22,275 |
32,864 |
77,277 |
117,943 |
|||
Non-GAAP income/(loss) from |
136,981 |
(8,392) |
418,859 |
255,386 |
|||
Net income/(loss) attributable to |
99,612 |
(90,074) |
367,236 |
(110,195) |
|||
Share based compensation expenses |
22,275 |
32,864 |
77,277 |
117,943 |
|||
Non-GAAP net income/(loss) |
|
|
|
|
|||
Net income/(loss) per ADS |
|||||||
Basic |
|
|
|
|
|||
Diluted |
0.17 |
(0.15) |
0.61 |
(0.19) |
|||
Non-GAAP Net income/(loss) per |
|||||||
Basic |
|
|
|
|
|||
Diluted |
0.20 |
(0.10) |
0.74 |
0.01 |
|||
ADSs used in calculating net |
|||||||
Basic |
573,061,914 |
597,287,832 |
569,854,929 |
594,553,110 |
|||
Diluted |
602,012,835 |
597,287,832 |
600,674,802 |
594,553,110 |
|||
ADSs used in calculating |
|||||||
Non-GAAP net income/(loss) per |
|||||||
Basic |
573,061,914 |
597,287,832 |
569,854,929 |
594,553,110 |
|||
Diluted |
602,012,835 |
597,287,832 |
600,674,802 |
620,891,562 |
Annex
Corrections to Certain Line Items of Previously Released Financial Statements for the First, Second and Third Quarters of Fiscal Year 2020
As
The Company is setting forth hereby corrections for the transactions at issue, which mainly include a reversal of net revenues, cost of revenues, general and administrative, inventory, prepaid expenses and other current assets, accounts payable and accrued expenses and other current liabilities. The accumulated negative impact for the first three quarters of fiscal year 2020 on net revenues and net income attributable to
|
||||||||
CORRECTED LINE ITEMS OF UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
(In thousands of |
||||||||
As of |
As of |
As of |
||||||
As previously |
As revised (note 1) |
As previously |
As revised
|
As previously |
As revised
|
|||
ASSETS |
||||||||
Current assets |
||||||||
Inventory |
10,880 |
10,880 |
12,456 |
12,456 |
21,288 |
22,006 |
||
Prepaid expenses and other current assets |
199,730 |
169,161 |
213,904 |
162,221 |
244,873 |
161,165 |
||
Total current assets |
2,146,075 |
2,115,506 |
1,788,436 |
1,736,753 |
3,007,136 |
2,924,146 |
||
Total assets |
|
|
|
|
|
|
||
LIABILITIES AND EQUITY |
||||||||
Current liabilities |
||||||||
Accounts payable |
|
|
|
|
|
|
||
Accrued expenses and other current liabilities |
361,707 |
360,520 |
401,359 |
402,509 |
503,781 |
504,854 |
||
Total current liabilities |
1,684,275 |
1,662,566 |
1,338,162 |
1,304,474 |
2,187,891 |
2,131,518 |
||
Total liabilities |
2,518,258 |
2,496,549 |
2,171,588 |
2,137,900 |
3,307,872 |
3,251,499 |
||
Equity |
||||||||
Retained earnings |
913,010 |
904,158 |
898,610 |
880,631 |
926,787 |
900,193 |
||
Accumulated other comprehensive loss |
(16,635) |
(16,643) |
(55,997) |
(56,013) |
(34,400) |
(34,423) |
||
|
2,540,600 |
2,531,740 |
2,513,596 |
2,495,601 |
2,594,126 |
2,567,509 |
||
Total equity |
2,583,152 |
2,574,292 |
2,554,585 |
2,536,590 |
2,630,823 |
2,604,206 |
||
Total liabilities and equity |
|
|
|
|
|
|
|
|||||||||||
CORRECTED LINE ITEMS OF UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||||||
(In thousands of |
|||||||||||
For the Three Months Ended |
For the Three Months Ended |
For the Three Months Ended |
|||||||||
|
|
|
|||||||||
As previously |
As revised (note 1) |
As previously |
As revised |
As previously |
As revised |
||||||
|
|
|
|
|
|
||||||
Net revenues |
|||||||||||
Cost of revenues |
316,875 |
296,371 |
418,803 |
404,499 |
385,122 |
361,817 |
|||||
Gross profit |
385,895 |
377,043 |
517,823 |
508,696 |
477,235 |
467,200 |
|||||
Operating expenses |
|||||||||||
General and administrative |
175,585 |
175,585 |
190,056 |
190,056 |
209,491 |
208,071 |
|||||
Total operating expenses |
330,984 |
330,984 |
453,314 |
453,314 |
400,438 |
399,018 |
|||||
Income from operations |
57,318 |
48,466 |
69,939 |
60,812 |
78,036 |
69,421 |
|||||
(Loss)/income before income |
(11,644) |
(20,496) |
(24,131) |
(33,258) |
44,852 |
36,237 |
|||||
Net (loss)/income |
(10,216) |
(19,068) |
(17,373) |
(26,500) |
25,035 |
16,420 |
|||||
Total net (loss)/income |
|
|
|
|
|
|
|||||
Net (loss)/income per common |
|||||||||||
Basic |
|
|
|
|
|
|
|||||
Diluted |
(0.04) |
(0.08) |
(0.07) |
(0.12) |
0.14 |
0.09 |
|||||
Net (loss)/income per ADS |
|||||||||||
Basic |
|
|
|
|
|
|
|||||
Diluted |
(0.01) |
(0.03) |
(0.02) |
(0.04) |
0.05 |
0.03 |
|
|||||||||||
CORRECTED LINE ITEMS OF UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) |
|||||||||||
(In thousands of |
|||||||||||
For the Three Months Ended |
For the Three Months Ended |
For the Three Months Ended |
|||||||||
|
|
|
|||||||||
As previously |
As revised (note 1) |
As previously |
As revised |
As previously |
As revised |
||||||
Net (loss)/income |
|
|
|
|
|
|
|||||
Other comprehensive |
(34,948) |
(34,956) |
(40,759) |
(40,767) |
22,202 |
22,195 |
|||||
Comprehensive |
(45,164) |
(54,024) |
(58,132) |
(67,267) |
47,237 |
38,615 |
|||||
Comprehensive |
|
|
|
|
|
|
|||||
Note 1: The transaction at issue has immaterial impact to fiscal year 2019. The impact is included in the condensed consolidated financial statements as of and for the |
View original content:http://www.prnewswire.com/news-releases/tal-education-group-announces-unaudited-financial-results-for-the-fourth-fiscal-quarter-and-the-fiscal-year-2020-301048133.html
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