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TAL Education Group Announces Unaudited Financial Results for the Fourth Fiscal Quarter and the Fiscal Year 2020

- Quarterly Results:
Net Revenues up by 18.0% Year-Over-Year
Loss from Operations was US$41.3 million, compared to Income from Operations of US$114.7 millionin the Same Period of Prior Year
Non-GAAP Loss from Operations was US$8.4 million, compared to Non-GAAP Income from Operations of US$137.0 million in the Same Period of Prior Year
Total Student Enrollments of Normal Priced Long-term Course up by 56.6% Year-Over-Year- Fiscal Year Results:
Net Revenues up by 27.7%
Income from Operations was US$137.4 million, compared to Income from Operations of US$341.6 million in Fiscal Year 2019
Non-GAAP Income from Operations wasUS$255.4 million, compared to Non-GAAP Income from Operations of US$418.9 million in Fiscal Year 2019
Quarterly Average Student Enrollments of Normal Priced Long-term Course up by 55.2% Year-Over-YearBEIJING, April 28, 2020 /PRNewswire/ -- TAL Education Group (NYSE: TAL) ("TAL" or the "Company"), a leading K-12 after-school tutoring services provider in China, today announced its unaudited financial results for the fourth quarter and the fiscal year ended February 29, 2020. Highlights for the Fourth Quarter of Fiscal Year 2020

Net revenues increased by 18.0% year-over-year to US$857.7 million from US$726.6 million in the same period of the prior year.



Loss from operations was US$41.3 million, compared to income from operations of US$114.7 million in the same period of the prior year.



Non-GAAP loss from operations, which excluded share-based compensation expenses, was US$8.4 million, compared to Non-GAAP income from operations of US$137.0 million in the same period of the prior year.



Net loss attributable to TAL was US$90.1 million, compared to net income attributable to TAL of US$99.6 million in the same period of the prior year.



Non-GAAP net loss attributable to TAL, which excluded share-based compensation expenses, was US$57.2 million, compared to Non-GAAP net income attributable to TAL of US$121.9 million in the same period of the prior year.



Basic and diluted net loss per American Depositary Share ("ADS") were both US$0.15. Non-GAAP basic and diluted net loss per ADS, which excluded share-based compensation expenses, were both US$0.10. Three ADSs represent one Class A common share.



Cash, cash equivalents and short-term investments totaled US$2,219.3 million as of February 29, 2020, compared to US$1,515.6 million as of February 28, 2019.



Total student enrollments of normal priced long-term course increased by 56.6% year-over-year to approximately 4,646,040 from approximately 2,966,400 in the same period of the prior year.

Highlights for the Fiscal Year Ended February 29, 2020
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