China Liberal Education Holdings Inc. (NASDAQ: CLEU) stock declined by 4.47% at last close whereas the CLEU stock price gained by 8.19% in the pre-market trading session. China Liberal, based in Beijing, is a Chinese educational services company. It offers a broad array of services, such as combined Sino-foreign academic programs, overseas study consulting services, and much more.
CLEU stock’ Financial Update
On December 3, 2021, China Liberal Education announced its financial earnings for the initial six months of the fiscal year 2021. Given below are the highlights:
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- For the six months ending June 30, 2021, revenue declined by 18.5 percent year over year to $1.85 million from $2.27 million the previous year.
- For the six months ending June 30, 2021, gross profit climbed by 74.3 percent to $1.37 million, up from $0.79 million the previous year.
- For the first half of 2021 and 2020, gross margins were 74.2 percent and 34.7 percent, respectively.
- In the first half of 2021, income from operations was $0.30 million, relative to a loss of $0.11 million for the same period last year.
- For the six months ended June 30, 2021, net income was $0.23 million, while the net loss for the first half of 2020 was $0.08 million.
- For the six months ended June 30, 2021, basic and diluted earnings per share were $0.03, relative to basic and diluted loss per share of $0.02 for the first half of 2020.
Furthermore,
The current COVID-19 epidemic may have an even greater impact on the Company’s operations. Since Chinese universities/colleges have restarted on-site teaching since May 2020 and the enrollment in the Company’s sino-foreign jointly managed education programmes with two colleges enhanced during the 2021 academic school year, the Company’s revenue from sino-foreign jointly managed academic programmes was not greatly affected for the six months ended June 30, 2021.
Due to the uncertainty surrounding foreign travel, it is projected that the COVID-19 epidemic would continue to prevent students from pursuing their abroad education in the near future, negatively impacting the income stream of overseas study advisory services.
