Continuing operations                       0.16         0.13         0.16 
Discontinued operations                     0.05            -            - 
 
 
                BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED 
        UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
                          (Amounts in thousands) 
 
                                         Three Months Ended November 30, 
                                       ----------------------------------- 
                                          2023               2024 
                                       -----------  ---------------------- 
                                           GBP         GBP         USD 
 
Net cash used in operating activities      (2,327)     (5,657)     (7,207) 
 
Net cash (used in)/ generated from 
 investing activities                      (1,965)       3,561       4,522 
 
Net cash used in financing activities        (210)     (4,442)     (5,641) 
 
Effect of exchange rate changes on 
 cash and cash equivalents, and 
 restricted cash                               627       (263)       (333) 
 
Net change in cash and cash 
 equivalents,                              (3,875)     (6,819)     (8,658) 
and restricted cash 
 
Cash and cash equivalents, and 
 restricted cash                            61,697      54,325      68,987 
at beginning of the period 
 
Cash and cash equivalents, and 
 restricted cash                            57,822      47,506      60,329 
at end of the period 
                                       -----------  ----------  ---------- 
 
 
                BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED 
               Reconciliations of GAAP and Non-GAAP Results 
 (Amounts in thousands, except for shares and per share data, income per 
                          share, income per ADS) 
 
                                        Three Months Ended November 30, 
                                     ------------------------------------- 
                                        2023                2024 
                                     -----------  ------------------------ 
                                         GBP          GBP          USD 
 
Gross profit from continuing 
 operations                               17,863       13,043       16,563 
Add: Amortization of intangible 
 assets                                      116          113          143 
Adjusted gross profit from 
 continuing operations                    17,979       13,156       16,706 
 
Operating income from continuing 
 operations                                6,287        4,771        6,058 
Add: Share-based compensation 
 expenses                                      -          345          438 
Add: Amortization of intangible 
 assets                                      116          113          143 
Adjusted operating income from 
 continuing operations                     6,403        5,229        6,639 
 
Net income                                 6,601        4,012        5,095 
Add: Share-based compensation 
 expenses                                      -          345          438 
Add: Amortization of intangible 
 assets                                      116          113          143 
Add: Tax effect of amortization of 
 intangible assets                          (23)         (23)         (29) 
Less: Income from discontinued 
 operations, net of tax                    1,599            -            - 
Adjusted net income                        5,095        4,447        5,647 
 
Net income attributable to ordinary 
 shareholders                              6,098        3,737        4,746 
Add: Share-based compensation 
 expenses                                      -          345          438 
Add: Amortization of intangible 
 assets                                       88           86          109 
Add: Tax effect of amortization of 
 intangible assets                          (18)         (18)         (23) 
Less: Income from discontinued 
 operations, net of tax                    1,408            -            - 
Adjusted net income attributable to 
 ordinary shareholders                     4,760        4,150        5,270 
 
Net income                                 6,601        4,012        5,095 
Add: Interest income, net                   (94)         (59)         (75) 
Add: Income tax expense                    1,449          814        1,034 
Add: Depreciation and amortization         1,279        1,266        1,608 
Add: Share-based compensation 
 expenses                                      -          345          438 
Less: Income from discontinued 
 operations, net of tax                    1,599            -            - 
Adjusted EBITDA                            7,636        6,378        8,100 
 
Weighted average shares used 
  in calculating adjusted net 
  income per ordinary share: 
--Basic                              118,669,795  118,669,795  118,669,795 
--Diluted                            118,669,795  119,283,889  119,283,889 
 
Adjusted net income per share 
attributable 
  to ordinary shareholders 
--Basic                                     0.04         0.04         0.04 
--Diluted                                   0.04         0.03         0.04 
 
Adjusted net income per ADS 
--Basic and diluted                         0.16         0.14         0.18 
 

View original content:https://www.prnewswire.com/news-releases/bright-scholar-announces-unaudited-financial-results-for-the-first-quarter-of-fiscal-year-2025-302359512.html

SOURCE Bright Scholar Education Holdings Ltd.

(END) Dow Jones Newswires

January 24, 2025 05:00 ET (10:00 GMT)