{"id":10782,"date":"2022-08-04T22:00:00","date_gmt":"2022-08-04T22:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3836448_CN36448_0"},"modified":"2022-08-04T22:00:00","modified_gmt":"2022-08-04T22:00:00","slug":"bright-scholar-announces-unaudited-financial-results-for-the-third-fiscal-quarter-of-fiscal-2022","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=10782","title":{"rendered":"Bright Scholar Announces Unaudited Financial Results for the Third Fiscal Quarter of Fiscal 2022"},"content":{"rendered":"
\n

FOSHAN, China<\/span><\/span>, Aug. 5, 2022<\/span><\/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 third fiscal quarter of fiscal 2022 ended May 31, 2022<\/span>.<\/p>\n

FINANCIAL PERFORMANCE HIGHLIGHTS
<\/b>Third Fiscal Quarter Ended May 31, 2022<\/span> Financial Highlights
<\/b>(in comparison to the same period of the last 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

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

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

\n

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

Ended May 31, 2022<\/b><\/span><\/p>\n<\/td>\n

\n

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

Ended May 31, 2021<\/b><\/span><\/p>\n<\/td>\n

\n

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

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

\n

Revenue <\/span>from continuing operations<\/span><\/p>\n<\/td>\n

\n

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

\n

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

\n

20.7 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross Profit<\/span> from continuing operations<\/span><\/p>\n<\/td>\n

\n

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

\n

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

\n

158.2 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross Margin from continuing operations<\/span><\/p>\n<\/td>\n

\n

30.9 %<\/span><\/p>\n<\/td>\n

\n

14.5 %<\/span><\/p>\n<\/td>\n

\n

16.4 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating Income\/(Loss) from continuing operations<\/span><\/p>\n<\/td>\n

\n

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

\n

(70.1)<\/span><\/p>\n<\/td>\n

\n

127.5 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating Margin from continuing operations<\/span><\/p>\n<\/td>\n

\n

4.4 %<\/span><\/p>\n<\/td>\n

\n

(19.3 %)<\/span><\/p>\n<\/td>\n

\n

23.7 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Income from discontinued operations, net of tax<\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net (Loss)\/Income for the quarter<\/span><\/p>\n<\/td>\n

\n

(7.1)<\/span><\/p>\n<\/td>\n

\n

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

\n

(104.3 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

\n

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

\n

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

\n

147.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Operating Income\/(Loss) <\/span>from continuing operations (2)<\/sup><\/span><\/p>\n<\/td>\n

\n

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

\n

(65.3)<\/span><\/p>\n<\/td>\n

\n

136.4 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Net Loss<\/span>(3)<\/sup> for the quarter<\/span><\/p>\n<\/td>\n

\n

(3.5)<\/span><\/p>\n<\/td>\n

\n

(90.2)<\/span><\/p>\n<\/td>\n

\n

96.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

2,052.6 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

Basic and Diluted Loss per Share from continuing operations<\/span><\/p>\n<\/td>\n

\n

(0.08)<\/span><\/p>\n<\/td>\n

\n

(0.73)<\/span><\/p>\n<\/td>\n

\n

89.0 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Basic and Diluted Loss per Share (5)<\/sup> for the quarter<\/span><\/p>\n<\/td>\n

\n

(0.05)<\/span><\/p>\n<\/td>\n

\n

(0.69)<\/span><\/p>\n<\/td>\n

\n

92.8 %<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Nine Months Ended May 31, 2022<\/span> Financial Highlights 
<\/b>(in comparison to the same period of the last 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

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

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

\n

Nine Months<\/b><\/span><\/p>\n

Ended May 31, 2022<\/b><\/span><\/p>\n<\/td>\n

\n

Nine Months<\/b><\/span><\/p>\n

Ended May 31, 2021<\/b><\/span><\/p>\n<\/td>\n

\n

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

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

\n

Revenue <\/span>from continuing operations<\/span><\/p>\n<\/td>\n

\n

1,311.1<\/span><\/p>\n<\/td>\n

\n

1,081.8<\/span><\/p>\n<\/td>\n

\n

21.2 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross Profit<\/span> from continuing operations<\/span><\/p>\n<\/td>\n

\n

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

\n

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

\n

127.7 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross Margin from continuing operations<\/span><\/p>\n<\/td>\n

\n

30.1 %<\/span><\/p>\n<\/td>\n

\n

16.0 %<\/span><\/p>\n<\/td>\n

\n

14.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating Loss from continuing operations<\/span><\/p>\n<\/td>\n

\n

(3.7)<\/span><\/p>\n<\/td>\n

\n

(185.7)<\/span><\/p>\n<\/td>\n

\n

98.0 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating Margin from continuing operations<\/span><\/p>\n<\/td>\n

\n

(0.3 %)<\/span><\/p>\n<\/td>\n

\n

(17.2 %)<\/span><\/p>\n<\/td>\n

\n

16.9 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Income from discontinued operations, net of tax<\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net (Loss)\/Income for the period<\/span><\/p>\n<\/td>\n

\n

(60.0)<\/span><\/p>\n<\/td>\n

\n

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

\n

(119.2 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

\n

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

\n

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

\n

121.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Operating Income\/(Loss) <\/span>from continuing operations (2)<\/sup><\/span><\/p>\n<\/td>\n

\n

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

\n

(172.2)<\/span><\/p>\n<\/td>\n

\n

105.5 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Net Loss <\/span>(3) <\/sup>for the period<\/span><\/p>\n<\/td>\n

\n

(49.9)<\/span><\/p>\n<\/td>\n

\n

(244.7)<\/span><\/p>\n<\/td>\n

\n

79.6 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

(0.5)<\/span><\/p>\n<\/td>\n

\n

42,300.6 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

Basic and Diluted Loss per Share from continuing operations<\/span><\/p>\n<\/td>\n

\n

(0.49)<\/span><\/p>\n<\/td>\n

\n

(2.13)<\/span><\/p>\n<\/td>\n

\n

77.0 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Basic and Diluted Loss per Share (5)<\/sup> for the period<\/span><\/p>\n<\/td>\n

\n

(0.41)<\/span><\/p>\n<\/td>\n

\n

(2.04)<\/span><\/p>\n<\/td>\n

\n

79.9 %<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

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

1. Adjusted gross profit\/(loss) from continuing operations is defined as gross profit\/(loss) from continuing operations excluding amortization of intangible assets.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

2. Adjusted operating income\/(loss) from continuing operations is defined as operating income\/(loss) from continuing operations excluding share-based compensation expense and amortization of intangible
assets.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

3. Adjusted net income\/(loss) is defined as net income\/(loss) excluding share-based compensation expense, amortization of intangible assets, tax effect of amortization of intangible assets and income\/(loss)
from discontinued operations, net of tax.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

4. Adjusted EBITDA is defined as net income\/(loss) excluding interest income\/(expense), net, income tax expense\/benefit; depreciation and amortization, share-based compensation expense and income\/(loss)
from discontinued operations, net of tax.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

5. 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, tax effect of amortization of intangible assets and income\/(loss) from discontinued operations, net of tax.) 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><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\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><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Overseas Schools (CATS Global Schools)<\/b><\/p>\n

CATS Global Schools include 4 Stafford House locations in UK, 4 CATS Colleges in US and UK, Cambridge School of Visual & Performing Arts and 3 independent boarding schools in UK as of May 31, 2022<\/span>.<\/p>\n