{"id":13975,"date":"2022-11-30T00:15:00","date_gmt":"2022-11-30T00:15:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3949828_CN49828_0"},"modified":"2022-11-30T00:15:00","modified_gmt":"2022-11-30T00:15:00","slug":"bright-scholar-announces-unaudited-financial-results-for-the-fourth-fiscal-quarter-and-fiscal-year-2022","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=13975","title":{"rendered":"Bright Scholar Announces Unaudited Financial Results for the Fourth Fiscal Quarter and Fiscal Year 2022"},"content":{"rendered":"
\n

FOSHAN, China<\/span><\/span>, Nov. 30, 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 fourth fiscal quarter and fiscal year ended August 31<\/span>, 2022.  <\/p>\n

FINANCIAL PERFORMANCE HIGHLIGHTS<\/b><\/p>\n

Fourth Fiscal Quarter Ended August 31, 2022<\/span> Financial Highlights  <\/b><\/p>\n

(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\n\n
\n

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

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

\n

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

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

\n

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

Ended August 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

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

\n

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

\n

26.2 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

73.4 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

20.7 %<\/span><\/p>\n<\/td>\n

\n

15.1 %<\/span><\/p>\n<\/td>\n

\n

5.6 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

70.9 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

(14.7 %)<\/span><\/p>\n<\/td>\n

\n

(63.7 %)<\/span><\/p>\n<\/td>\n

\n

49.0 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

79.2 %<\/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

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

\n

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

\n

65.5 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

50.7 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

48.9 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

59.9 %<\/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

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

\n

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

\n

62.5 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n

\n

(0.66)<\/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

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

\n

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

\n

46.4 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

62.5 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Basic and Diluted Loss per ADS from discontinued operations<\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Basic and Diluted Loss per ADS (6)<\/sup> for the quarter<\/span><\/p>\n<\/td>\n

\n

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

\n

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

\n

46.4 %<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Fiscal Year 2022 Ended August 31, 2022<\/span> Financial Highlights <\/b><\/p>\n

(in comparison to 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\n\n
\n

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

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

\n

Fiscal Year 2022<\/b><\/span><\/p>\n

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

\n

Fiscal Year 2021<\/b><\/span><\/p>\n

Ended August 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

1,714.9<\/span><\/p>\n<\/td>\n

\n

1,401.8<\/span><\/p>\n<\/td>\n

\n

22.3 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

115.8 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

27.9 %<\/span><\/p>\n<\/td>\n

\n

15.8 %<\/span><\/p>\n<\/td>\n

\n

12.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

83.8 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

(3.7 %)<\/span><\/p>\n<\/td>\n

\n

(27.8 %)<\/span><\/p>\n<\/td>\n

\n

24.1 %<\/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

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net Loss for the year<\/span><\/p>\n<\/td>\n

\n

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

\n

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

\n

3.8 %<\/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

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

\n

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

\n

108.7 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

85.5 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

66.8 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

592.5 %<\/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

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

\n

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

\n

69.4 %<\/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

4.09<\/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 year<\/span><\/p>\n<\/td>\n

\n

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

\n

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

\n

65.5 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

69.4 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n

\n

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

\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Basic and Diluted Loss per ADS (6)<\/sup> for the year<\/span><\/p>\n<\/td>\n

\n

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

\n

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

\n

65.5 %<\/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, impairment loss on operating lease right-of-use assets, impairment loss on goodwill and  impairment loss on property and equipment.<\/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, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment 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, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment 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, impairment loss on operating lease right-of-use assets, impairment loss on goodwill,  impairment loss on property and equipment and income\/(loss) from discontinued operations, net of tax.) divided by the weighted average number of basic and diluted ordinary shares.<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

6.   Adjusted basic and diluted earnings\/(loss) per American depositary share (“ADS”) is defined as adjusted net income\/(loss) attributable to ADS shareholders (net income\/(loss) attributable to ADS shareholders excluding share-based compensation expense, amortization of intangible assets, tax effect of amortization of intangible assets, impairment loss on operating lease right-of-use assets, impairment loss on goodwill, impairment loss on property and equipment and income\/(loss) from discontinued operations, net of tax.) divided by the weighted average number of basic and diluted ADSs. The number of shares used in calculating basic and diluted earnings\/(loss) per ADS have been retrospectively adjusted to reflect the ADS ratio change from one ADS representing one Class A ordinary share to one ADS representing four Class A ordinary shares, which became effective on August 19, 2022.<\/span><\/p>\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 included 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 August 31, 2022<\/span>.<\/p>\n