China Distance Education Holdings Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2018; Provides Revenue Guidance for the Third Quarter and Full Year of 2018
For the six months ended March 31, 2018, the company's total net revenue increased by 21.9% to $65.6 million in the first six months of fiscal 2018 from $53.8 million in the first six months of fiscal 2017. Net revenue from online education services, books and reference materials, and other sources contributed 69.9%, 5.7% and 24.4%, respectively, of total net revenues for the first six months of fiscal 2018. As a result of the foregoing, net loss was $3.2 million compared with net income of $6.1 million in the prior year period. Non-GAAP net loss was $2.1 million compared with net income of $7.1 million in the prior year period. Net operating cash inflow decreased by 25.5% to $21.6 million in the first six months of fiscal 2018 from $29.0 million in the prior year period. Operating income was $2,198,000 compared to $5,889,000 a year ago. Loss before income taxes was $3,303,000 compared to income before income taxes of $9,113,000 a year ago. Basic and diluted net loss per ADS was $0.096 compared to diluted earnings per share of $0.185 a year ago. Non-GAAP operating income was $3,254,000 compared to $6,871,000 a year ago. Basic and diluted Non-GAAP net loss per ADS attributable to China Distance Education Holdings Limited shareholders was $0.064 compared to diluted earnings per share of $0.215 a year ago. Net loss attributable to China Distance Education Holdings Limited shareholders was $0.024 per diluted share against net income of $0.046 per diluted share a year ago.
For the third quarter of fiscal 2018, the company expects to generate total net revenue in the range of $42.5 million to $44.3 million, representing year-over-year growth of approximately 20% to 25%.
For fiscal year 2018, the company expects to generate total net revenues in the range of $155.8 million to $162.4 million, representing year-over-year growth of approximately 19% to 24%.