TAL Education Turns To Profit In Q4, Beats Market; Stock Up In Premarket

(RTTNews) - TAL Education Group (TAL), a smart learning solutions provider in China, reported Thursday that its fourth-quarter net income attributable was $27.51 million, compared to last year's net loss $39.42 million.

Net income per American Depositary Share was $0.04, compared to loss of $0.06 a year ago.

Adjusted net income attributable to TAL was $48.01 million, compared to last year's net loss of $13.09 million. Adjusted net income per ADS were $0.08, compared to net loss of $0.02 a year ago.

Net revenues was $429.56 million, up 59.7 percent from $269 million in the same period of the prior year.

Analysts on average expected the company to report earnings of $0.02 per share on revenues of $389.78 million, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

In pre-market activity on the NYSE, TAL shares were gaining around 8 percent to trade at $13.24.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.