Press Release: Bright Scholar Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024

Dow Jones
2024-11-25
 continuing operations            79,833       35,864        5,059      467,428      503,586       71,028 
Add: Amortization of 
 intangible assets                 1,050        1,050          148        4,341        4,184          590 
Adjusted gross profit from 
 continuing operations            80,883       36,914        5,207      471,769      507,770       71,618 
 
Operating loss from 
 continuing operations         (227,621)    (941,754)    (132,827)    (161,678)    (820,443)    (115,717) 
Add: Share-based 
 compensation expenses                 -        3,240          457            -        8,101        1,143 
Add: Amortization of 
 intangible assets                 1,050        1,050          148        4,341        4,184          590 
Add: Impairment loss on 
 goodwill                        147,116      593,748       83,744      147,116      593,748       83,744 
Add: Impairment loss on 
 intangible assets                     -      258,326       36,435            -      258,326       36,435 
Add: Impairment loss on 
 property and equipment           12,891        6,607          932       12,891        6,607          932 
Add: Impairment loss on the 
 long-term investments             2,613            -            -        2,613            -            - 
Adjusted operating 
 (loss)/income from 
 continuing operations          (63,951)     (78,783)     (11,111)        5,283       50,523        7,127 
 
Net loss                       (340,318)  (1,004,684)    (141,704)    (386,823)  (1,032,861)    (145,678) 
Add: Share-based 
 compensation expenses                 -        3,240          457            -        8,101        1,143 
Add: Amortization of 
 intangible assets                 1,050        1,050          148        4,341        4,184          590 
Add: Tax effect of 
 amortization of intangible 
 assets                             (41)        (209)         (29)        (670)        (833)        (117) 
Add: Impairment loss on 
 goodwill                        147,116      593,748       83,744      147,116      593,748       83,744 
Add: Impairment loss on 
 intangible assets                     -      258,326       36,435            -      258,326       36,435 
Add: Impairment loss on 
 property and equipment           12,891        6,607          932       12,891        6,607          932 
Add: Impairment loss on the 
 long-term investments             2,613            -            -        2,613            -            - 
Less: Loss from 
 discontinued operations, 
 net of tax                     (55,240)     (49,929)      (7,042)     (27,959)    (163,791)     (23,102) 
Adjusted net (loss)/income     (121,449)     (91,993)     (12,975)    (192,573)        1,063          151 
 
Net loss attributable to 
 ordinary shareholders         (344,608)    (987,863)    (139,332)    (395,134)    (996,279)    (140,519) 
Add: Share-based 
 compensation expenses                 -        3,240          457            -        8,101        1,143 
Add: Amortization of 
 intangible assets                 1,050        1,050          148        4,341        4,184          590 
Add: Tax effect of 
 amortization of intangible 
 assets                             (41)        (209)         (29)        (670)        (833)        (117) 
Add: Impairment loss on 
 goodwill                        147,116      579,827       81,781      147,116      579,827       81,781 
Add: Impairment loss on 
 intangible assets                     -      258,326       36,435            -      258,326       36,435 
Add: Impairment loss on 
 property and equipment           12,891        6,607          932       12,891        6,607          932 
Add: Impairment loss on the 
 long-term investments             2,613            -            -        2,613            -            - 
Less: Loss from 
 discontinued operations, 
 net of tax                     (59,197)     (49,869)      (7,034)     (35,447)    (144,505)     (20,382) 
Adjusted net 
 (loss)/income attributable 
 to ordinary shareholders      (121,782)     (89,153)     (12,574)    (193,396)        4,438          627 
 
Net loss                       (340,318)  (1,004,684)    (141,704)    (386,823)  (1,032,861)    (145,678) 
Add: Interest expense, net       (2,124)        (392)         (55)        5,452        1,315          185 
Add: Income tax expense           55,301        (337)         (48)      183,208       32,908        4,641 
Add: Depreciation and 
 amortization                     14,293       11,808        1,665       63,598       48,796        6,882 
Add: Share-based 
 compensation expenses                 -        3,240          457            -        8,101        1,143 
Add: Impairment loss on 
 goodwill                        147,116      593,748       83,744      147,116      593,748       83,744 
Add: Impairment loss on 
 intangible assets                     -      258,326       36,435            -      258,326       36,435 
Add: Impairment loss on 
 property and equipment           12,891        6,607          932       12,891        6,607          932 
Add: Impairment loss on the 
 long-term investments             2,613            -            -        2,613            -            - 
Less: Loss from 
 discontinued operations, 
 net of tax                     (55,240)     (49,929)      (7,042)     (27,959)    (163,791)     (23,102) 
Adjusted EBITDA                 (54,988)     (81,755)     (11,532)       56,014       80,731       11,386 
 
Weighted average shares 
used 
  in calculating adjusted 
  net (loss)/income per 
  ordinary share: 
--Basic and Diluted 
Continuing operations        118,669,795  118,669,795  118,669,795  118,669,795  118,669,795  118,669,795 
Discontinued operations      118,669,795  118,669,795  118,669,795  118,669,795  118,669,795  118,669,795 
 
Adjusted net 
(loss)/income per share 
attributable 
  to ordinary shareholders 
--Basic                           (1.03)       (0.75)       (0.11)       (1.63)         0.04         0.01 
--Diluted                         (1.03)       (0.75)       (0.11)       (1.63)         0.04         0.01 
Adjusted net 
(loss)/income per ADS 
--Basic                           (4.12)       (3.00)       (0.44)       (6.52)         0.16         0.04 
--Diluted                         (4.12)       (3.00)       (0.44)       (6.52)         0.16         0.04 
 

View original content:https://www.prnewswire.com/news-releases/bright-scholar-announces-unaudited-financial-results-for-the-fourth-quarter-and-fiscal-year-2024-302315296.html

SOURCE Bright Scholar Education Holdings Ltd.

 

(END) Dow Jones Newswires

November 25, 2024 05:34 ET (10:34 GMT)

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