Bright Scholar(US:BEDU)2020-11-17 19:18Financial Performance - For the first nine months of fiscal year 2020 (F9M'20), Bright Scholar's revenue increased by 46.6% year-over-year to RMB 2714.4 million, compared to RMB 1851.4 million in F9M'19[46] - Adjusted EBITDA for F9M'20 grew by 37.3% year-over-year to RMB 669.4 million, compared to RMB 487.6 million in F9M'19[46] - In the third fiscal quarter of 2020 (F3Q'20), revenue increased by 6.7% year-over-year to RMB 739.4 million, compared to RMB 692.8 million in F3Q'19[46] - Adjusted net income decreased by 7.3% to RMB 333.6 million in F9M'20 from RMB 359.8 million in F9M'19[46] - Adjusted net income decreased by 70.9% to RMB 46.6 million in F3Q'20 from RMB 160.2 million in F3Q'19[46] Business Segments - Revenue from overseas schools increased significantly by 2,204.4% to RMB 766.8 million in F9M'20 from RMB 33.3 million in F9M'19[51] - Revenue from domestic K-12 schools increased by 3.7% to RMB 1,552.1 million in F9M'20 from RMB 1,496.9 million in F9M'19[51] - Revenue from complementary education increased by 23.1% to RMB 395.5 million in F9M'20 from RMB 321.2 million in F9M'19[51] Strategic Initiatives and Outlook - The company reaffirms its revised outlook for fiscal year 2020, expecting revenue between RMB 3.37 billion and RMB 3.47 billion, representing a year-over-year increase of 31% to 35%[91] - The company expects enrollment between 51,800 and 52,800 students, representing a year-over-year increase of 11% to 13%[91] - The company plans to open 17 kindergartens and 1 international school in fiscal year 2021[92]