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TAL

TAL Education Slips To Loss In Q2 - Quick Facts

(RTTNews) - TAL Education Group (TAL) reported that its net loss attributable to the company for the second quarter of fiscal year 2020 was US$14.4 million, compared to net income US$77.0 million in the second quarter of fiscal year 2019.

Net loss per ADS were both US$0.02 in the second quarter of fiscal year 2020.

Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, decreased by 84.8% to US$14.5 million, from US$95.1 million in the second quarter of fiscal year 2019.

Net revenues increased by 33.8% year-over-year to US$936.6 million from US$699.8 million in the same period of the prior year. The increase was mainly driven by an increase in total Student Enrollments of normal priced long-term course, which increased by 54.5% to about 3.41 million from about 2.20 million in the same period of the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.09 per share and revenues of $914.72 million for the quarter. Analysts' estimates typically exclude special items.

The company expects total net revenues for the third quarter of fiscal year 2020 to be between US$826.2 million and US$843.8 million, representing an increase of 41% to 44% on a year-over-year basis.

The projected revenue growth rate is expected to be in the range of 45% to 48% for the third quarter of fiscal year 2020.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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