Editorial Summary

Beijing-based online degree services provider ChinaEdu Corporation (Nasdaq: CEDU) reported results for the full year of 2007 on Thursday. ChinaEdu's net revenue was up 24.1 percent year-on-year to US$36.3 million in the period, while net income was down 90.3 percent year-on-year to US$300,000. In the fourth quarter, ChinaEdu recorded net revenue of $10.9 million, up 37.6 percent year-on-year, and net income of $1.3 million, up 220.6 percent from the year-ago period.

During the three month period, the number of revenue students in ChinaEdu's online degree programs increased 23 percent year-on-year to 91,000 students. Revenue generated from online degree programs hit $8.9 million, up 54.5 percent from the fourth quarter of 2006. Revenue from the company's non-online degree programs was down 6.9 percent year-on-year to $2 million. The company's non-online degree programs include international curriculum programs, private primary and secondary schools and online tutoring programs. ChinaEdu expects first quarter 2008 revenue to come in between $9 million and $9.3 million.

Prior to the company's earnings release, ChinaEdu announced that its CFO Michael Xu has resigned effective March 31 for family reasons.

Another company announcement said ChinaEdu has agreed to join Beijing Forestry University (BFU) in an exclusive 20-year joint venture for online education services. The agreement comes as ChinaEdu’s twelfth long-term partnership for adult online education services, said the announcement.