Noah Education Announces Unaudited First Quarter EPS of $(0.09)

Noah Education Holdings Ltd. NED ("Noah" or "the Company"), a leading provider of education products and services in China, today announced its unaudited financial results for the first quarter ended September 30, 2010.

First Quarter Fiscal 2011 Financial Highlights

• Net revenue for the quarter decreased by 46.5% to RMB127.3 million (US$19.0 million), compared with RMB238.2 million in the first quarter of fiscal 2010, and in line with the Company's previously stated guidance of RMB123 million to RMB129 million
• Gross profit was RMB47.6 million (US$7.1 million), a 59.5% decrease compared with RMB117.5 million in the first quarter of fiscal 2010
• Operating loss was RMB33.4 million (US$5.0 million), compared with operating income of RMB32.5 million in the first quarter of fiscal 2010
• Net loss was RMB21.9 million (US$3.3 million), compared with net income of RMB37.8 million in the first quarter of fiscal 2010
• Basic and diluted losses per share were RMB0.58 (US$0.09), compared with basic and diluted earnings per share of RMB0.99 and RMB0.96 respectively for the first quarter of fiscal 2010. Non-GAAP basic and diluted losses per share, excluding share-based compensation expenses, were RMB0.52 (US$0.08), compared with basic and diluted earnings per share of RMB1.06 and RMB1.03 respectively for the first quarter of fiscal 2010