China Distance Education reports Q4 EPS 55c, one estimate 33c
Reports Q4 revenue $68.7M, one estimate $63.27M. Reports Q4: gross margin 63.2% vs. 51.2% last year; Total course enrollments were 1.13M, up 40.6% from last year. CEO Zhengdong Zhu says: "We ended FY19 on a positive note, with fourth quarter revenue growth of 28.1% year-over-year, above our guidance range. Our fourth quarter revenue performance was primarily driven by continued strength from our industry-leading accounting vertical, together with higher-than-anticipated revenue from our legal vertical, primarily due to the earlier release of exam results for the objective section of the Legal Professional Qualification Exam compared with the same period last year. Total course enrollments were up 40.6% year-over-year in the fourth quarter, primarily due to significant enrollment growth in accounting continuing education courses. Cash receipts from online course registration grew 21.6% year-over-year in the fourth quarter, contributing to the robust growth of cash receipts of 33.1% in fiscal 2019, due in large part to the popularity of our longer duration premium and elite classes."