BEIJING, Feb. 28, 2020 /PRNewswire/ -- TAL Education Group
(NYSE: TAL) ("TAL" or the "Company"), a leading K-12 after-school
tutoring services provider in China, today announced preliminary estimated
revenues for the fourth quarter of fiscal year 2020 ending
February 29, 2020.
TAL currently expects its preliminary estimated total net
revenues for the fourth quarter of fiscal year 2020 to be in
the range of US$850.1 million and
US$871.9 million, representing
year-over-year growth in the range of 17% to 20%, respectively.
Without giving effect to the impact of potential change in exchange
rate between Renminbi and the U.S. Dollar, the estimated
year-over-year revenue growth rate is expected to be in the range
of 20% to 23% for the fourth quarter of fiscal year 2020. The
Company previously announced its outlook which estimated the total
net revenues for the fourth quarter to be in the range of
US$959.1 million and US$980.9 million. The weaker-than-expected
revenues are mainly due to the impact of the outbreak of
coronavirus in China and
precautionary measures taken by the Company with respect to its
offline business, which was partially offset by the growth in
student enrollments in online courses and related revenues for the
quarter.
The above preliminary estimated revenues for the fourth quarter
of fiscal year 2020 ending February 29,
2020 reflects TAL's current and preliminary view, which is
subject to uncertainty and change.
About TAL Education Group
TAL Education Group is a leading K-12 after-school tutoring
services provider in China. The
acronym "TAL" stands for "Tomorrow Advancing Life", which reflects
our vision to promote top learning opportunities for Chinese
students through both high-quality teaching and content, as well as
leading edge application of technology in the education experience.
TAL Education Group offers comprehensive tutoring services to
students from pre-school to the twelfth grade through three
flexible class formats: small classes, personalized premium
services, and online courses. Our tutoring services cover the core
academic subjects in China's
school curriculum as well as competence oriented programs. The
Company's learning center network currently covers 70 cities.
We also operate www.jzb.com, a leading online education platform
in China. Our ADSs trade on the
New York Stock Exchange under the symbol "TAL".
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
the estimated revenues for the fourth quarter of fiscal year 2020
contain forward-looking statements. The Company may also make
written or oral forward-looking statements in its reports filed
with, or furnished to, the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's ability to continue to
attract students to enroll in its courses; the Company's ability to
continue to recruit, train and retain qualified teachers; the
Company's ability to improve the content of its existing course
offerings and to develop new courses; the Company's ability to
maintain and enhance its brand; the Company's ability to maintain
and continue to improve its teaching results; the Company's ability
to compete effectively against its competitors; and risks related
to natural and other disasters, including outbreaks of health
epidemics and other extraordinary events. Further information
regarding these and other risks is included in the Company's
reports filed with, or furnished to the U.S. Securities and
Exchange Commission. All information provided in this press release
and in the attachments is as of the date of this press release, and
TAL Education Group undertakes no duty to update such information
or any forward-looking statement, except as required under
applicable law.
For further information, please contact:
Echo Yan
Investor Relations
TAL Education Group
Tel: +86 10 5292 6658
Email: ir@100tal.com
Caroline Straathof
IR Inside
Tel: +31 6 5462 4301
Email: info@irinside.com
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SOURCE TAL Education Group