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ChinaEdu Reports Fourth Quarter 2009 Results

BEIJING, March 11 /PRNewswire-Asia-FirstCall/ -- ChinaEdu Corporation (Nasdaq: CEDU) ("ChinaEdu" or the "Company"), an educational services provider in China, today announced its unaudited financial results for the fourth quarter ended December 31, 2009.(1) (in thousands, unaudited) Three Months Ended Twelve Months Ended December December Period December December Year Period Ended 31, 2008 31, 2009 over 31, 2008 31, 2009 over Currency USD USD Period % USD USD Year % Financial Data: Net revenue 12,678 13,993 10.4% 46,546 51,965 11.6% Gross profit 6,965 8,481 21.8% 29,298 31,695 8.2% Income from operations (7,216) 2,913 N/A (1,912) 11,635 N/A Net income attributable to ChinaEdu (5,711) 1,326 N/A (6,302) 5,096 N/A Adjusted EBITDA (2) (non-GAAP) 1,539 4,004 160.2% 12,492 16,011 28.2% Adjusted net income attri- butable to ChinaEdu (3) (non-GAAP) 2,491 1,722 -30.9% 6,198 6,904 11.4% Net income (loss) attributable to ChinaEdu per ADS (4) (0.308) 0.082 N/A (0.330) 0.313 N/A Adjusted net income per ADS (5) (non-GAAP)

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