Key Developments For ChinaEdu Corporation
ChinaEdu Corporation (CEDU.O) (Consolidated Issue listed on NASDAQ Global Market)
ChinaEdu Corporation Issues Q4 2009 Revenue Guidance Below Analysts' Estimates
ChinaEdu Corporation announced that for the fourth quarter of 2009, it expects total net revenue to be in the range of RMB88 million to RMB92 million or $12.9 million to $13.5 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $13.6 million for the fourth quarter of 2009.
ChinaEdu Corporation Reinstates Open Market Buyback
ChinaEdu Corporation announced that the Company will reinstate the share buyback program authorized by the Board of Directors in June 2008 as the management team believes the current price levels do not reflect the fundamental strength of the Company's business. The method, timing and amount of any repurchases will depend on market conditions, the trading price of the ADSs and other factors, and such repurchases will be subject to, and in compliance with, relevant rules under United States securities regulations. The share repurchase program may be suspended, modified or discontinued at any time. About ChinaEdu
ChinaEdu Corporation Issues Q3 2009 Revenue Guidance In Line With Analysts' Estimates
ChinaEdu Corporation announced that for third quarter of 2009, it expects its total net revenue to be in the range of RMB84 million($12 million) to RMB88 million ($13 million). According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $13 million for the same period.
ChinaEdu Corporation Signed New University Partners
ChinaEdu Corporation announced that it has signed education cooperation agreements with Jiangsu University and Fujian Radio and TV University. Jiangsu University is currently applying for approval to provide online degree education by the Ministry of Education in China. Under the agreement, the Company will provide exclusive technology and support services to Jiangsu University's adult education college for the next six years prior to the approval for the online degree program. Once online degree approval is granted, the Company will provide Jiangsu University with exclusive technology and support services for a period of 10 years.
ChinaEdu Corporation Issues Q2 2009 Outlook In Line With Analysts' Estimates
ChinaEdu Corporation announced that for the second quarter of 2009, it expects total net revenue to be in the range of RMB 83 million ($12.1 million) to RMB 87 million ($12.7 million). According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $12.7 million for the same period.
