{"id":418216,"date":"2021-01-20T17:03:28","date_gmt":"2021-01-20T22:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=418216"},"modified":"2021-01-20T17:03:28","modified_gmt":"2021-01-20T22:03:28","slug":"bright-scholar-announces-unaudited-financial-results-for-the-first-fiscal-quarter-of-fy2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bright-scholar-announces-unaudited-financial-results-for-the-first-fiscal-quarter-of-fy2021\/","title":{"rendered":"Bright Scholar Announces Unaudited Financial Results for the First Fiscal Quarter of FY2021"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

FOSHAN, China<\/span>, Jan. 20, 2021<\/span> \/PRNewswire\/ — Bright Scholar Education Holdings Limited (“Bright Scholar,” the “Company,” “we” or “our”) (NYSE: BEDU), a global premier education service company, today announced its unaudited financial results for the first fiscal quarter ended November 30, 2020<\/span>.<\/p>\n

\n First Fiscal Quarter Ended November 30, 2020<\/span> Financial Highlights\u00a0
<\/b>(in comparison to the same period of\u00a0the\u00a0last fiscal year):<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n
\n RMB in million<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n

\n
\n
\n Except EPS and %<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n First Fiscal Quarter<\/b>
\n <\/span>\n <\/p>\n

\n
\n Ended November 30, 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n First Fiscal Quarter<\/b>
\n <\/span>\n <\/p>\n

\n
\n Ended November 30, 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n YoY <\/b>
\n <\/span>\n <\/p>\n

\n
\n % Change<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,051.5<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,098.0<\/span>\n <\/p>\n<\/td>\n

\n

\n (4.2%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gross Profit<\/span>\n <\/p>\n<\/td>\n

\n

\n 442.8<\/span>\n <\/p>\n<\/td>\n

\n

\n 473.8<\/span>\n <\/p>\n<\/td>\n

\n

\n (6.5%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gross Margin<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 43.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating Income<\/span>\n <\/p>\n<\/td>\n

\n

\n 228.4<\/span>\n <\/p>\n<\/td>\n

\n

\n 267.2<\/span>\n <\/p>\n<\/td>\n

\n

\n (14.5%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating Margin<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n (2.6%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Income<\/span>\n <\/p>\n<\/td>\n

\n

\n 190.9<\/span>\n <\/p>\n<\/td>\n

\n

\n 204.3<\/span>\n <\/p>\n<\/td>\n

\n

\n (6.6%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Margin<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.4%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Adjusted Gross Profit (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 450.0<\/span>\n <\/p>\n<\/td>\n

\n

\n 484.8<\/span>\n <\/p>\n<\/td>\n

\n

\n (7.2%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted Gross Margin (1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 42.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 44.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.4%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted Operating Income (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 236.3<\/span>\n <\/p>\n<\/td>\n

\n

\n 288.3<\/span>\n <\/p>\n<\/td>\n

\n

\n (18.0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted Operating Margin (2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 22.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 26.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n (3.8%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted Net Income (3)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 197.1<\/span>\n <\/p>\n<\/td>\n

\n

\n 223.0<\/span>\n <\/p>\n<\/td>\n

\n

\n (11.6%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted Net Margin (3)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 18.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.6%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted EBITDA (4)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 320.6<\/span>\n <\/p>\n<\/td>\n

\n

\n 352.5<\/span>\n <\/p>\n<\/td>\n

\n

\n (9.0%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted EBITDA Margin (4)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 30.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.6%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Basic and Diluted Earnings per Share<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.56<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.59<\/span>\n <\/p>\n<\/td>\n

\n

\n (1.9%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted Basic and Diluted Earnings per Share (5)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 1.61<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.74<\/span>\n <\/p>\n<\/td>\n

\n

\n (7.5%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

______________________________________________________________________________________________<\/p>\n

\n\n\n\n\n\n\n\n\n
\n

\n 1.\u00a0\u00a0 Adjusted gross profit\/(loss) is defined as gross profit\/(loss) excluding amortization of intangible assets. Adjusted gross margin is defined as adjusted gross profit\/(loss) divided by revenue.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n 2.\u00a0\u00a0 Adjusted operating income\/(loss) is defined as operating income\/(loss) excluding share-based compensation expense and amortization of intangible assets. Adjusted operating margin is defined as adjusted operating income\/(loss) divided by revenue.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n 3.\u00a0\u00a0 Adjusted net income\/(loss) is defined as net income\/(loss) excluding share-based compensation expense, amortization of intangible assets and tax effect of amortization of intangible assets. Adjusted net margin is defined as adjusted net income\/(loss) divided by revenue.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n 4.\u00a0\u00a0 Adjusted EBITDA is defined as net income\/(loss) excluding interest income\/(expense), net; income tax expense\/benefit; depreciation and amortization and share-based compensation expense. Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n 5.\u00a0\u00a0 Adjusted basic and diluted earnings\/(loss) per share is defined as adjusted net income\/(loss) attributable to ordinary shareholders (net income\/(loss) attributable to ordinary shareholders excluding share-based compensation expense, amortization of intangible assets and tax effect of amortization of intangible assets) divided by the weighted average number of basic and diluted ordinary shares or American depositary shares (each an “ADS”), each representing one Class A ordinary share of the Company, on an as-converted basis.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n

\n For more information on these adjusted financial measures, please see the section captioned under “Non-GAAP Financial Measures” and the tables captioned “Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n BUSINESS PERFORMANCE HIGHLIGHTS
<\/b>(in comparison to the same period of the last fiscal year) <\/p>\n

\n Domestic K-12 Schools <\/b>\n <\/p>\n

The domestic K-12 schools business comprises our international schools, bilingual schools and kindergartens in China<\/span>. <\/p>\n