SOURCE: Wonder International Education
PHOENIX, AZ--(Marketwire - Nov 20, 2012) - Wonder International Education and Investment Group Corporation (OTCBB: WIEI) (OTCQB: WIEI) ("Wonder" or the "Company"), an operator of information technology-focused vocational training schools in the People's Republic of China ("PRC"), today announced its financial results for the third quarter ended September 30, 2012.
Third Quarter Fiscal Year 2012 Financial Highlights:
- Revenue increased 35.3% year-over-year to $4.9 million, compared to $3.6 million in the third quarter of 2011.
- Net income increased 136.8% year-over-year to $1.1 million, compared to $0.5 million in the third quarter of 2011.
- Earnings per basic and diluted share increased 200.0% to $0.06 per share, compared to $0.02 per share in the third quarter of 2011.
- Stockholders' equity was $39.0 million as of September 30, 2012, an increase of 16.2% from $33.6 million as of December 31, 2011.
Nine Months Fiscal Year 2012 Financial Highlights:
- Revenue increased 36.1% year-over-year to $14.1 million, compared to $10.4 million for the nine months ended September 30, 2011.
- Earnings before interest, taxes, depreciation and amortization ("EBITDA") increased 83.3% year-over-year to $6.5 million, compared to $3.5 million for the nine months ended September 30, 2011.
- Net income increased 54.2% year-over-year to $5.4 million, compared to $3.5 million in the nine months ended September 30, 2011.
- Earnings per basic and diluted share increased 58.8% to $0.27 per share, compared to $0.17 per share in the nine mines ended September 30, 2011.
"Our marketing initiatives produced growth across all seven of our current schools during the quarter," stated Xiang Wei, CEO of Wonder. "The demand for vocational education remains high, and we are capitalizing on this trend. According to the Ministry of Education, vocational schools in China enroll more than 30 million students annually. Our established partnerships with employers in our operating regions provide a compelling value proposition for our students."
"We continue to work on our expansion plans," continued Mr. Wei. "Our long-term goal is to open more than 25 new schools throughout China, increasing our student population to over 50,000, providing the basis for significant ongoing shareholder value improvement."
About Wonder International
Wonder established its first school in 1993 and operates seven information technology-focused vocational training schools in seven provinces: Anhui, Jiangsu, Zhejiang, Henan, Hubei, Liaoning, and Fujian. The Company's core focus is to educate students in the lesser-developed cities of China to have the practical skills to secure higher-paying jobs.
Wonder also operates employment service agencies in more than 20 provinces and municipalities to serve their more than 20,000 graduating students annually. The Company's partnership with 30,000 corporations and 12 employment agencies will help provide jobs to Wonder's students and increase quality IT workers to support China's growing economy.
Wonder's stock is traded on the Over the Counter Bulletin Board and OTC Markets under the stock symbol WIEI.
For more information, please view http://www.wonderwiei.com.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.