Ambow Education Holding Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, net revenues were $59,520,000 compared to $48,750,000 for the same period a year ago. Operating loss was $13,041,000 compared to operating income of $3,437,000 for the same period a year ago. Loss before tax and non-controlling interest was $13,754,000 compared to income of $2,072,000 for the same period a year ago. Loss from continuing operations was $13,174,000 compared to income of $1,745,000 for the same period a year ago. Net loss attributable to the company was $12,650,000 compared to net income attributable to the company of $1,549,000 for the same period a year ago. Net loss attributable to ordinary shareholders was $12,650,000 compared to net income attributable to the ordinary shareholders of $1,549,000 for the same period a year ago. Net loss from continuing operation per ADS attributable to ordinary shareholders, basic and diluted was $0.17 compared to net income from continuing operation per ADS attributable to ordinary shareholders, basic and diluted of $0.03 for the same period a year ago. Non-GAAP operating loss was $10,575,000 compared to income of $4,497,000 for the same period a year ago. Non-GAAP net loss was $10,184,000 or $0.14 per basic and diluted share compared to income of $3,042,000 or $0.04 per basic and diluted share for the same period a year ago. LBITDA was $7,207,000 compared to EBITDA of $7,561,000 for the same period a year ago. Adjusted LBITDA was $4,741,000 compared to EBITDA of $8,621,000 for the same period a year ago. The company expects total net revenues for the second quarter of 2012 to be in the range of $69.9 million to $73.0 million. The company expects net revenue for the full year of 2012 is expected to be in the range of $301.7 million to $333.5 million.