Noah Education Announces Preliminary Results for the Third Quarter of 2010

SHENZHEN, China, April 30 /PRNewswire-Asia-FirstCall/ -- Noah Education Holdings Ltd. ("Noah") (NYSE: NED), a leading provider of interactive educational content and education services in China, today announced its preliminary financial results for the third quarter of fiscal 2010, which ended March 30, 2010.

The Company's financial statements for the quarter ended March 30, 2010 have not been finalized and are subject to completion of its normal quarter-end closing procedures. Therefore, the preliminary selected unaudited financial data set forth below may be subject to adjustment and the actual results could differ materially from the expected results provided.

Noah expects net revenue for the third quarter of fiscal 2010 to be about RMB253.7 million (US$37.2 million), representing an 18.3% increase over the third quarter of fiscal 2009. The Company had previously expected to generate net revenue in the range of RMB282 million to RMB293 million for the quarter.

Operating income for the quarter is expected to be about RMB32.9 million (US$4.8 million), an increase of 12.7% compared with RMB29.2 million (US$4.3 million) for the third quarter of fiscal 2009. Noah anticipates GAAP net income for the quarter to be approximately RMB36.0 million (US$5.3 million), a 4.8% increase compared with the net income of RMB34.4 million for the third quarter of fiscal 2009.

Noah will announce the third quarter of fiscal 2010 results on May 12, 2010 after the US market close and host a conference call in conjunction with the results on May 13, 2010 before the US market open, in which the Company will provide detailed quarterly results for the quarter, the quarterly revenue guidance for the fourth quarter as well as the annual guidance for the fiscal 2010.

About Noah

Noah Education Holdings Limited is a leading provider of interactive educational content and education services in China. Noah's core offering includes the development and marketing of interactive educational courseware content, electronic learning products (ELPs), software, kids' English training and after-school education services. Noah combines standardized education content with innovative digital and multimedia technologies to create a dynamic learning experience and improve academic performance for kids in China aged 3-19. Noah has developed a nationwide sales network, powerful brand image, and accessible and diverse delivery platforms to bring its innovative content to the student population. Noah also provides a kids' English training service under the brand Little New Star in its direct-owned schools and approximately 700 franchise schools throughout China. Noah was founded in 2004 and is listed on the New York Stock Exchange under the ticker symbol NED.

Forward-Looking Statement

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and contingencies, many of which are beyond our control which may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's final prospectus filed with the Securities and Exchange Commission on September 24, 2007, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to (and expressly disclaims any such obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Investor Contact:
     Jerry He
     CFO and Executive Vice
     President
     Noah Education Holdings Ltd
     Tel:   +86-755-8204-9263
     Email: [email protected]

    Investor Relations (US):
     Kelly Gawlik
     Taylor Rafferty
     Tel:   +1-212-889-4350
     Email: [email protected]

    Investor Relations (HK):
     Ruby Yim
     Taylor Rafferty
     Tel:   +852-3196-3712
     Email: [email protected]

SOURCE Noah Education Holdings Limited