{"id":21235,"date":"2023-08-16T22:00:00","date_gmt":"2023-08-16T22:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4185543_CN85543_0"},"modified":"2023-08-16T22:00:00","modified_gmt":"2023-08-16T22:00:00","slug":"bright-scholar-announces-unaudited-financial-results-for-the-six-months-of-fiscal-2023","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=21235","title":{"rendered":"Bright Scholar Announces Unaudited Financial Results for the Six Months of Fiscal 2023"},"content":{"rendered":"
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FOSHAN, China<\/span><\/span>, Aug. 17, 2023<\/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 six months of fiscal 2023 ended February 28, 2023<\/span>.<\/p>\n

FISCAL SIX MONTHS 2023 FINANCIAL PERFORMANCE HIGHLIGHTS
<\/b>Six Months Ended February 28, 2023<\/span> (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

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

Ended February 28, 2023<\/b><\/span><\/p>\n<\/td>\n

\n

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

Ended February 28, 2022<\/b><\/span><\/p>\n<\/td>\n

\n

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

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

\n

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

\n

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

\n

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

\n

11.9 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

14.0 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

30.2 %<\/span><\/p>\n<\/td>\n

\n

29.6 %<\/span><\/p>\n<\/td>\n

\n

0.6 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

211.8 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

2.6 %<\/span><\/p>\n<\/td>\n

\n

(2.6 %)<\/span><\/p>\n<\/td>\n

\n

5.2 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

83.4 %<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

\n

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

\n

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

\n

12.9 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

331.2 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

94.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

(50.3 %)<\/span><\/p>\n<\/td>\n<\/tr>\n

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

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

\n

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

\n

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

\n

76.2 %<\/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

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

\n

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

\n

86.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

76.2 %<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

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

\n

86.1 %<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

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

\n

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

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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.<\/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 and share-based compensation expense.<\/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.) 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.) 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

<\/td>\n<\/tr>\n
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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>CATS Global Schools included 4 Stafford House locations in UK and Canada<\/span>, 4 CATS Colleges in US and UK, Cambridge School of Visual & Performing Arts and 3 independent boarding schools in UK as of February 28, 2023<\/span>.<\/p>\n