Editorial Summary

Chinese private education company New Oriental Education & Technology Group Inc. (NYSE: EDU) announced financial results for the quarter ended February 29, 2008, the company's fiscal 2008 third quarter, before the US markets opened on Thursday. New Oriental recorded revenue of $48.1 million in the quarter, up 46.9 percent year-on-year. Net income was up 38.1 percent year-on-year to $11.6 million in the quarter. Student enrollments were up 34.8 percent year-on-year to 268,400. Through the end of February, New Oriental had 38 schools and 181 learning centers (including the 38 schools), an increase of 17 learning centers from the quarter ended November 30, 2007.

New Oriental also announced that it has signed a definitive agreement to acquire Mingshitang, a Beijing company that offers tutoring to students looking to retake their college entrance examinations. The acquisition is expected to close in June 2008.