RYB Education (RYB) reported a first-quarter adjusted net loss attributable to shareholders of $0.04 per ADS, compared with $0.03 in the year-ago period. Analysts polled by Capital IQ had reached a consensus mean of $0.01 in earnings per ADS for the recent quarter.
The China-based company, which provides early childhood education services, also recorded net revenue of $34.3 million, up from $28.8 million in the first quarter of 2018.
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RYB, in its earnings report, noted the April closing of its acquisition of a private childhood education group. It bought a 77% equity interest in the Singapore-based group for RMB146 million ($21.1 million), gaining personnel and a bilingual curriculum. It had previously said it would buy an approximate 70% stake for RMB125 million in cash and that it would rebrand to GEH Education from RYB.
RYB expects to record net revenue of $52.1 million to $54.5 million in the second quarter and net revenue of $195.5 million to $203.5 million for the full year.
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