China Distance Education Holdings (NYSE:DL) reports 2Q17 earnings

China Distance Education Holdings (NYSE:DL) reports 2Q17 earnings

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China Distance Education Holdings (NYSE:DL) reported net loss for the second quarter of $ 2.41 million or $ 0.02 per share, compared to income of $ 2.54 million or $ 0.02 per share for the year-ago quarter.

The company reported second quarter Non-GAAP net loss of $ 1.93 million or $ 0.02 per share.

The topline results for the second quarter decreased 9% to $ 21.86 million from $ 24.15 million in the same quarter last year.

Analysts polled by Thomson Reuters expected China Distance Education Holdings to report revenue of $ 25.50 million for the second quarter. Analysts estimates generally exclude one time charges / gains.

Mr. Zhengdong Zhu, Chairman and CEO, commented: The second quarter revenue decline of 9.5% year-over-year was within our guidance range. we continued to execute on our strategic growth initiatives, Furthermore, we look forward to pursuing complementary acquisition and strategic investment opportunities that will enhance our business model, and further our effort to position China Distance Education as the premier life-long learning partner for our students.

For the third quarter of fiscal 2017, DL expects Total net revenue in the range of $30.8 million to $32.3 million,