RTTNews | Oct 13, 2020 04:09AM EDT

04:09 Tuesday, October 13, 2020 (RTTNews.com) - New Oriental Education & Technology Group (EDU) announced a profit for first quarter that dropped from the same period last year.

The company's bottom line totaled $174.65 million, or $1.09 per share. This compares with $208.99 million, or $1.31 per share, in last year's first quarter.

Excluding items, New Oriental Education & Technology Group reported adjusted earnings of $184.53 million or $1.15 per share for the period.

Analysts had expected the company to earn $1.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.5% to $0.99 billion from $1.07 billion last year.

New Oriental Education & Technology Group earnings at a glance:

-Earnings (Q1): $184.53 Mln. vs. $230.16 Mln. last year.-EPS (Q1): $1.15 vs. $1.44 last year.-Analysts Estimate: $1.01-Revenue (Q1): $0.99 Bln vs. $1.07 Bln last year.

-Guidance:Next quarter revenue guidance: $863.7 - $887.3 Mln

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