www.chinaeducationresources.com
VANCOUVER,
May 31, 2013 /CNW/ - China Education
Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading
technology provider of online learning, training courses and social
media for teachers, students and education professionals, announced
its financial results for the first quarter of 2013. All figures
are expressed in U.S. dollars.
China Education Resources generated gross
revenues of $2,403,369 in the first
quarter of 2013. This is compared to gross revenue of $2,570,769 for the same period in 2012. It
recorded a net loss attributable to shareholders of $246,079 as compared to a net profit attributable
to shareholders of $610,839 for the
same period in 2012.
Q1 of 2013 financial highlights include:
Online products revenue of $1,584,044 generated during the first quarter of
2013 as compared to $1,566,985 during
the same period in 2012;
Text book sales revenue of $819,325 generated during the first quarter of
2013 as compared to $1,003,784 during
the same period in 2012. The decrease in textbook sales is due to
some customers have delayed in making the decision on whether to
purchase traditional textbook or digital textbook.
CER is also very pleased to announce that we
have signed the agreement with China Telecom (Gansu) to provide Smartphone services to our
mobile learning program which is the new solution to CER School
Platform for both of the students and teachers.
This program is a keystone to CER's business
strategy, the teachers and students interact through our school
platform, which is the centerpiece of our online education service
business. Not only do teachers and students interact through our
platform, they will propagate its use with other teachers, students
and parents. Because of its advanced features and complete
compliance with government programs, the Company expects that
educators, students and parents will gravitate to the system to
work, study, interact and develop social networks. We expect the
new functions of the school platform will be an example of the
high-growth potential of our products and business model.
In collaboration with China's education administrators and experts,
China Education Resources has been helping to transform the
curriculum of the world's largest educational system. Recognizing
the need to address education reform changes, China Education
Resources has created educational tools and curriculum for
China's entire kindergarten
through twelfth grade system. The Company is playing an integral
part in transforming China's
educational system through helping to convert the existing
educational system from a memory-based learning system to a
creative thinking and interactive approach. Presently, China Education Resources has over 1 million
kindergarten through twelfth grade teachers registered through its
Web portal. For more information, please visit
www.chinaeducationresources.com or call (604) 331-2388.
Safe Harbor Statement
Certain statements made herein, and other
statements relating to matters that are not historical facts and
statements of our beliefs, intentions and expectations about
developments, results and events which will or may occur in the
future, constitute "forward-looking information" within the meaning
of applicable securities legislation. Forward-looking information
and statements are typically identified by words such as
"anticipate", "could", "should", "expect", "seek", "may", "intend",
"likely", "plan", "estimate", "will", "believe" and similar
expressions suggesting future outcomes or statements regarding an
outlook. All such forward-looking information and statements are
based on certain assumptions and analysis made by China Education
Resources, Inc.'s management in light of their experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors management believes
are appropriate in the circumstances. These statements, however,
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking information
or statements. Important factors that could cause actual results to
differ from these forward-looking statements include those
described under the heading "Risks and Uncertainties" elsewhere in
the Company's MD&A filed at www.SEDAR.com. The reader is
cautioned not to place undue reliance on forward-looking
information or statements. Except as required by law the Company
does not assume the obligation to revise or update these forward
looking statements after the date of this document or to revise
them to reflect the occurrence of future, unanticipated events.
The TSX Venture Exchange has not reviewed, and
does not accept, responsibility for the adequacy or accuracy of the
contents of this press release.
SOURCE China Education Resources Inc.