China Distance Education Posts Mixed Results (DL)

China Distance Education Holdings Limited DL late on Monday released financial results that failed to meet Wall Street earnings expectations, while beating revenue estimates. China Distance Education Holdings Limited reported a 4th quarter net loss of $2.1 million, or 2 cents per share, compared to net income of $1.3 million, or 1 cent per share, a year earlier. Excluding special items, the company earned 4 cents per share. The company's revenues rose 11.6% to $11.36 million, up from $10.17 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 6 cents per share, on revenue of $10.54 million. Chairman and chief executive officer Zhengdong Zhu said, "We are pleased to report top-line results for the quarter that exceeded our guidance, despite having ceased offering ITAT contest related training and recording minimal revenue from Yucai this quarter. Our results were supported by steady enrollment increases across our course offerings with strong growth from our accounting continuous education courses, where enrollments increased 70% year-over-year. Our top-line was further supported by a material contribution from the sale of books and reference materials. China Distance Education Holdings Limited (DL) ended the Monday trading session at $5.10 per share. Analysts covering the company's stock have a consensus price target of $5.60 per share. Read more from Benzinga's Company news.