On January 21, Good Future (TAL.US) announced its unaudited financial results for the third quarter of fiscal year 2020 as of November 30, 2019. According to the financial report, the revenue in the third quarter of the future is USD 862.4 million, an increase of 47.2% compared with USD 586 million in the same period last year.
On January 21, Good Future (TAL.US) announced its unaudited financial results for the third quarter of fiscal year 2020 as of November 30, 2019. According to the financial report, the revenue in the third quarter of the future is USD 862.4 million, an increase of 47.2% compared with USD 586 million in the same period last year.
Operating profit increased from US $ 71 million in the same period last year to US $ 78 million in the quarter, an increase of 9.9%. Non-US accounting operating profit (without consideration of equity incentive expenses) increased from USD 92.9 million in the same period last year to USD 108.2 million this quarter, an increase of 16.4%.
Net profit was US $ 28.2 million, a year-on-year decrease of 77.2% from US $ 123.8 million.
In the third quarter of fiscal 2020, the good future revenue growth was mainly due to the increase in the total number of students (long-term regular price classes) from about 1.396 million in the same period last year to about 2.318 million in this quarter, a year-on-year increase of 66%. . As of November 30, 2019, Good Future has 794 teaching centers in 70 cities, more than 676 teaching centers in 56 cities as of February 28, 2019.
Good Future Chief Financial Officer Luo Rong said that we always insist on further developing offline business at an appropriate speed and expanding the scale of online products, and the overall business growth trend of the group will continue. We will also continue to make efforts to make use of existing product advantages and new technical resources to promote the overall business to be used more widely in a wider area.
In addition, the financial report also disclosed the change of directors in the future: Announcing the appointment of Bai Yunfeng as the company’s director, and Liu Yachao’s retirement as the company’s director, effective January 21, 2020. Bai Yunfeng will serve as chairman of the board and Zhang Bangxin will continue to serve as director of the company. Zhang Bangxin, Bai Yunfeng and Liu Yachao will continue to hold the company’s current management positions: CEO, President and Chief Operating Officer.
Total net income in the fourth quarter of fiscal 2020 is expected to be between $ 959.1 million and $ 980.9 million, a year-on-year increase of 32% to 35%. Without considering the potential impact of exchange rate movements between RMB and USD, the projected revenue growth rate for the fourth quarter of fiscal 2020 is expected to be in the range of 35% to 38%.
In October 2010, Good Future was listed on the NYSE. In the following 8 years, its stock price went out of the “slow cow” market, and continued to rise from 2.15 US dollars / share to the peak of 47.63 US dollars / share (formerly reinstated) in June 2018. The market value grew more than 21 times, exceeding New Oriental.
Good data for the first quarter of fiscal year 2020 announced on July 25 shows that the company realized revenue of US $ 702.8 million, a year-on-year increase of 27.6%, lower than market expectations; a net loss of US $ 7.304 million, a year-on-year decrease of 110.9%. This is the first loss since Good Future went public. Its stock price plummeted 11.38% that day, and it has continued to fall to $ 30.78 / share on August 5, 2019.
On October 25, 2019, Good Future will release its interim report for fiscal year 2020. Data show that it lost 21.7 million US dollars in the first six months and lost 14.4 million US dollars in the second quarter. But Good Future’s stock price has been rising all the way, and recently hit a new high of 56.93 US dollars, a range of nearly 50%.
However, after the recent financial report, Good Future Pre-Market Trading has fallen by 3.76% and the stock price is 54.02 USD.