China Bilingual Technology Education Group Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 29, 2012
April 16, 2012 at 03:06 pm EDT
China Bilingual Technology Education Group Inc. reported unaudited consolidated earnings results for the second quarter and six months ended February 29, 2012. For the quarter, the company reported revenue of $10,953,811, income from operations of $4,533,920, income before income taxes of $2,455,168 and net profit of $2,455,168 or $0.08 per basic and diluted share against revenue of $6,079,354, income from operations of $2,195,840, income before income taxes of $2,203,594 and net profit of $2,203,594 or $0.07 per basic and diluted share for the same period a year ago. The increase in revenue was primarily attributable to the acquisition of the Shanxi South School. Earnings before Interest, Taxes, Depreciation and Amortization increased 119.0% year-over-year to $5.6 million, compared to $2.5 million for the three months ended February 28, 2011.
For the six months, the company reported revenue of $21,379,797, income from operations of $7,222,354, income before income taxes of $3,107,606 and net profit of $3,107,606 or $0.10 per basic and diluted share against revenue of $12,070,703, income from operations of $4,919,676, income before income taxes of $4,939,070 and net profit of $4,939,070 or $0.16 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $3,877,159 against $2,467,764 for the same period a year ago. EBITDA increased 67.6% year-over-year to $9.3 million, compared to $5.5 million for the six months ended February 28, 2011.