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New Oriental Announces Results for the Fourth Fiscal Quarter and the Fiscal Year Ended May 31, 2020

Fiscal Year Net Revenues Increased by 15.6% Year-Over-Year
Fiscal Year Student Enrollments Increased by 26.3% Year-Over-Year
Fiscal Year Net Income Attributable to New Oriental Increased by 73.6% Year-Over-Year
BEIJING, July 28, 2020 /PRNewswire/ --A New Oriental Education & Technology Group Inc. (the "Company" or "New Oriental") (NYSE: EDU), the largest provider of private educational services in China, today announced its unaudited financial results for the fourth fiscal quarter ended May 31, 2020. Financial Highlights for the Fourth Fiscal Quarter Ended May 31, 2020

Total net revenues decreased by 5.3% year-over-year to US$798.5 million for the fourth fiscal quarter of 2020.



Operating income decreased by 86.7% year-over-year to US$10.3 million for the fourth fiscal quarter of 2020.



Non-GAAP operating income ,which excludes share-based compensation expenses, decreased by 68.3% year-over-year to US$32.5 million for the fourth fiscal quarter of 2020.



Net income attributable to New Oriental decreased by 69.5% year-over-year to US$13.2 million for the fourth fiscal quarter of 2020.



Non-GAAP net income attributable to New Oriental, which excludes share-based compensation expenses and gain / (loss) from fair value change of long-term investments, decreased by 49.0% year-over-year to US$48.5 million for the fourth fiscal quarter of 2020.

Key Financial Results

(in thousands US$, except per ADS(1) data)
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