Research and Trading Portal for US-listed China Stocks · April 27, 2017
China Tracker - Details for Ambow Education Holding (AMBO)
Ambow Education Holding
"We will continue to focus on growing our Tutoring and Career Enhancement services organically and satisfying the immense demand for these services through our diversified offerings. Turning to acquisitions, we are going to continue our disciplined strategy to expand Ambow's footprint and offerings throughout China. We completed one acquisition during the quarter and we are in the process of closing another. We expect our acquisition will contribute less than 10% of our annual revenue. During the second quarter, we maintained our market leadership position in Career Enhancement, experiencing strong revenue and enrollment growth for consecutive quarters. We continue to experience growth in the demand for our broad range of Career Enhancement products and services, which are tailor made to improve an individual's competitive edge in the job market. In addition, we announced new joint cooperation agreements with Cisco, Apple and Microsoft."
"I also want to mention a notable accomplishment during the quarter. Two of our Changsha K-12 School students, one Science and one Fine Arts major, received the highest scores on the Chinese National University Entrance Exam in Hunan Province. As part of our strategic plan, we have been developing international programs in two of our K-12 schools since 2008. We are excited to report that we have achieved excellent academic results in these programs, with over 40% of our first-year international program graduates admitted to top 100 global universities. These are exceptional achievements, especially for private K-12 Schools, and a true reflection of our commitment to improving teaching quality."
The Company expects total net revenues in the third quarter of 2011 to be in the range of $64 million to $67 million, and net revenue for 2011 full-year to be in the estimated range of $276 million to $280 million.
Ambow Education Holding is pleased to guide today that it expects net revenues for the third quarter of 2011 to be between $64 million to $67 million. The company is further providing net revenues guidance for 2011 which is expected to be between $276 million to $280 million, representing a 27.1 % - 28.8% year-over-year increase compared to 2010. The net revenues the company is guiding towards for 2011 would represent a record high since the company's inception and reflect substantial growth in our career enhancement and tutoring segments, from 2010.
Ambow Education Holding announces that it remains firmly confident in its long-term business outlook, and is comfortable with the revenue guidance previously provided. The revenue guidance for the second quarter of 2011 is to be in the range of $74.8 million to $76.4 million, as provided in the last earnings call on May 18, 2011.
Ambow expects total net revenues in the fourth quarter of 2010 to be in the range of $55.3 million to $58.3 million. "We aim to continue to strengthen our market leadership position in existing regions through organic growth. In new regions in which we plan to expand, we will continue to build on our successful acquisition strategy, acquiring top players in the local markets that meet our financial, managerial, and operational criteria. This strategy enables us to quickly enter into and grow in key markets, while leveraging best local leadership, and lowering our operational risk."