Editorial Summary

Shenzhen-based electronic dictionary and mobile learning device maker Noah Education Holdings Ltd. (NYSE: NED) announced financial results for the quarter ending December 31, 2007, which is Noah's fiscal 2008 second quarter, after market close on Tuesday. Noah recorded net revenues of US$16.8 million, down 2.6 percent year-on-year and 49 percent quarter-on-quarter. Net income, however, was tripled year-on-year to $1.9 million, but was down from $5.9 million in the previous quarter. Digital learning device sales were down 16.5 percent year-over-year to approximately 111,00 in the quarter, while e-dictionary sales volume was down 24 percent to 229,000. Noah said that it opened six new tutoring centers in the quarter to bring its total to nine centers.