Form 6-K Filing Shows Nord Anglia Corrects Q4 EPS, Says Loss Was $0.15, Not $0.13

Nord Anglia Education, Inc. NORD reports the following corrections to its press release issued 19-Nov-2014 over PR Newswire. For the three months ended August 31, 2014, exceptional expenses in the Condensed Consolidated Income Statement has been corrected to $3.4 million resulting in a loss for the period of $24.6 million and a basic and diluted loss per ordinary share of $0.25. For the three months ended August 31, 2014, the Reconciliation of EBITDA, Adjusted EBITDA and Adjusted Net Income table has been modified to reflect the loss for the period of $24.6 million as well as the correct income tax expense of $3.0 million. The resulting Adjusted Net Income for the three months ended August 31, 2014 is a loss of $14.7 million and basic and diluted Adjusted Earnings per Ordinary Share and Pro forma Adjusted Earnings per Ordinary Share are a loss of $0.15. For the three months ended August 31, 2013, basic and diluted earnings per ordinary share are a loss of $0.39, reflecting the correct weighted average ordinary shares outstanding during the period of 74.0 million. There is no change to the full fiscal year 2014 results previously reported. The full corrected release follows. Nord Anglia Education Reports Full Fiscal Year 2014 Financial Results Nord Anglia Education, Inc. NORD, the world's leading premium schools organization, today announced financial results for the fourth quarter and full year ended August 31, 2014. Fourth quarter FY2014 highlights (compared to fourth quarter FY2013): · Revenue increased 15.1% from $55.7 million to $64.1 million · Revenue from premium schools increased 22.0% from $48.7 million to $59.4 million · Adjusted EBITDA increased from $0.2 million to $1.7 million · Adjusted Net Income improved from a loss of $18.4 million to a loss of $14.7 million Full fiscal year ended August 31, 2014 highlights (compared to full year ended August 31, 2013): · Revenue increased 46.6% from $323.7 million to $474.6 million · Revenue from premium schools increased 54.6% from $295.3 million to $456.4 million · Adjusted EBITDA increased 61.5% from $79.4 million to $128.2 million · Adjusted Net Income increased from a loss of $1.4 million to a profit of $23.6 million “We are very pleased to report robust operating and financial results in quarter four of fiscal 2014, completing a year of strong performance for Nord Anglia Education,” said Andrew Fitzmaurice, Nord Anglia Education CEO. “Following our IPO in March 2014, we have further strengthened our position as market leader through same school organic growth, the opening of our new schools in Hong Kong and Dubai and the acquisition of schools in Singapore and Cambodia. We see acquisitions as an important source of growth and continue to execute on and improve our deep pipeline of opportunities in order to add new schools into our market leading network. We also continue to focus on our greenfield strategy through the development of a second campus for the British School of Chicago, due to open in September 2015, and the development of a new 2,000 seat campus for the British International School of Houston, scheduled to open in September 2016. “Our schools now educate over 20,000 students around the world and as in past years we expect that our student numbers will continue to grow during the academic year. Our commitment to ensuring that every student achieves highly is evidenced by continued year-on-year improvement in our students' academic results, which significantly exceed global averages. We believe that our focus on delivering the highest possible quality of education for our students ensures Nord Anglia Education's ongoing success,” Fitzmaurice continued.