Xueda Education Group – XUE – Strong double-digit growth and delivered solid performance

Xueda Education Group (NYSE: XUE) , a leading national provider of tutoring services for primary and secondary school students in China with a focus on offering personalized tutoring services, announced its unaudited financial results for the second quarter of 2012.

Financial Highlights for Second Quarter 2012

• Net Revenue Increased by 35.2% Year-Over-Year
• Total Cash Collections Increased by 52.0% Year-Over-Year
• Total Number of Learning Centers Increased by 127 Year-Over-Year to 383
• Average Hourly Course Fee Increased by 9.5% Year-Over-Year
• Company Raised Full-year Revenue Guidance to $283-293 Million
• Total net revenue for the second quarter of 2012 increased by 35.2% year-over-year to $96.9 millionfrom $71.6 million for the second quarter of 2011.
• Gross profit for the second quarter of 2012 increased by 19.1% year-over-year to $34.5 million from $29.0 million for the second quarter of 2011.
• Income from operations for the second quarter of 2012 was $12.8 million, compared to $15.6 million for the second quarter of 2011.
• Net income attributable to Xueda Education Group for the second quarter of 2012 was $13.0 million compared to net income of $15.1 million for the second quarter of 2011.
• Basic and diluted net income attributable to Xueda Education Group per American Depositary Share (“ADS”) were $0.20 for the second quarter of 2012, compared to basic net income attributable to Xueda Education Group per ADS of $0.22 and diluted net income attributable to Xueda Education Group per ADS of $0.21 for the second quarter of 2011. Each ADS represents two ordinary shares of the Company.
• Cash, cash equivalents and short-term investments as of June 30, 2012 decreased to $224.6 million from $225.7 million as of December 31, 2011.
• Total cash collections in the second quarter of 2012 increased by 52.0% year-over-year to $86.8 million from $57.1 million in the second quarter of 2011.

Operational Highlights for Second Quarter 2012

• Total number of learning centers increased to 383 as of the end of the second quarter of 2012, up from 256 learning centers as of the second quarter of 2011 and 342 learning centers as of the end of the previous quarter.
• Course hours delivered in the second quarter of 2012 increased by 20.7% year-over-year to 3.50 million hours from 2.90 million hours in the second quarter of 2011.
• Total number of students served in the second quarter of 2012 increased by 19.8% year-over-year to 79,443 students from 66,340 students in the second quarter of 2011.

About Xueda Education Group – XUE

Xueda Education Group (XUE) is a leading national provider of tutoring services for primary and secondary school students in China with a focus on offering personalized tutoring services.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.