VANCOUVER, Aug. 29, 2013 /PRNewswire/ - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading technology and content provider of online learning, training courses and social media for teachers, students and education professionals, announced its financial results for the second quarter of 2013. All figures are expressed in U.S. dollars.
China Education Resources generated gross revenues of $4,052,614 in the second quarter of 2013. This is compared to gross revenue of $1,824,968 for the same period in 2012. It recorded a net profit attributable to shareholders of $123,138 as compared to a net loss attributable to shareholders of $177,321 for the same period in 2012. The strong sales in the second quarter included some sales orders deferred from the first quarter.
Q2 of 2013 financial highlights include:
Online products revenue of $2,124,335 generated during the second quarter of 2013 as compared to $739,416 during the same period in 2012;
Text book sales revenue of $1,928,279 generated during the second quarter of 2013 as compared to $1,085,552 during the same period in 2012.
During the six months ended June 30, 2013, the Company generated revenue of $6,455,983 as compared with $4,362,780 for the same period in 2012. The net loss attributable to the owners of the Company for the period was $122,941 as compared to $433,518 net profit for the same period in 2012.
"We are very pleased with our significant increasing revenue in the Q2 2013, and the operating performance of the company continues to be strong." said Chengfeng Zhou, CEO, China Education Resources. "We expect our unique and comprehensive blend of education resources and services to generate more on-line related revenue, and we are encouraged by the increasing utilization of our internet platform and educational social network, which work together with our existing online/offline products."
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.
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SOURCE China Education Resources Inc.