www.chinaeducationresources.com
VANCOUVER,
Aug. 29, 2013 /CNW/ - China Education
Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading
technology and content provider of online learning, training
courses and social media for teachers, students and education
professionals, announced its financial results for the second
quarter of 2013. All figures are expressed in U.S. dollars.
China Education Resources generated gross
revenues of $4,052,614 in the second
quarter of 2013. This is compared to gross revenue of $1,824,968 for the same period in 2012. It
recorded a net profit attributable to shareholders of $123,138 as compared to a net loss attributable
to shareholders of $177,321 for the
same period in 2012. The strong sales in the second quarter
included some sales orders deferred from the first quarter.
Q2 of 2013 financial highlights include:
Online products revenue of $2,124,335 generated during the second quarter of
2013 as compared to $739,416 during
the same period in 2012;
Text book sales revenue of $1,928,279 generated during the second quarter of
2013 as compared to $1,085,552 during
the same period in 2012.
During the six months ended June 30, 2013, the Company generated revenue of
$6,455,983 as compared with
$4,362,780 for the same period in
2012. The net loss attributable to the owners of the Company for
the period was $122,941 as compared
to $433,518 net profit for the same
period in 2012.
"We are very pleased with our significant
increasing revenue in the Q2 2013, and the operating performance of
the company continues to be strong." said Chengfeng Zhou, CEO, China Education
Resources. "We expect our unique and comprehensive blend of
education resources and services to generate more on-line related
revenue, and we are encouraged by the increasing utilization of our
internet platform and educational social network, which work
together with our existing online/offline products."
In collaboration with China's education administrators and experts,
China Education Resources has been helping to transform the
curriculum of the world's largest educational system. Recognizing
the need to address education reform changes, China Education
Resources has created educational tools and curriculum for
China's entire kindergarten
through twelfth grade system. The Company is playing an integral
part in transforming China's
educational system through helping to convert the existing
educational system from a memory-based learning system to a
creative thinking and interactive approach. Presently, China Education Resources has over 1 million
kindergarten through twelfth grade teachers registered through its
Web portal. For more information, please visit
www.chinaeducationresources.com or call (604) 331-2388.
Safe Harbor Statement
Certain statements made herein, and other
statements relating to matters that are not historical facts and
statements of our beliefs, intentions and expectations about
developments, results and events which will or may occur in the
future, constitute "forward-looking information" within the meaning
of applicable securities legislation. Forward-looking information
and statements are typically identified by words such as
"anticipate", "could", "should", "expect", "seek", "may", "intend",
"likely", "plan", "estimate", "will", "believe" and similar
expressions suggesting future outcomes or statements regarding an
outlook. All such forward-looking information and statements are
based on certain assumptions and analysis made by China Education
Resources, Inc.'s management in light of their experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors management believes
are appropriate in the circumstances. These statements, however,
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking information
or statements. Important factors that could cause actual results to
differ from these forward-looking statements include those
described under the heading "Risks and Uncertainties" elsewhere in
the Company's MD&A filed at www.SEDAR.com. The reader is
cautioned not to place undue reliance on forward-looking
information or statements. Except as required by law the Company
does not assume the obligation to revise or update these forward
looking statements after the date of this document or to revise
them to reflect the occurrence of future, unanticipated events.
The TSX Venture Exchange has not reviewed, and
does not accept, responsibility for the adequacy or accuracy of the
contents of this press release.
SOURCE China Education Resources Inc.
