Coffee Sipping Big Board Stocks

[EZ2]

doubled down on NED --- just can't believe it's not been unduly beaten down....and, has more UPside than DOWNside from here < anyway, cut my cost basis in half ---- LOL >
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Press Release Source: Noah Education Holdings Limited


Noah Education Announces Results for the First Fiscal Quarter Ended September 30, 2007
Monday November 19, 5:00 pm ET


SHENZHEN, China, Nov. 19 /Xinhua-PRNewswire/ -- Noah Education Holdings Ltd. ("Noah") (NYSE: NED - News), a leading provider of interactive education content in China, today announced its unaudited financial results for the fiscal quarter ended September 30, 2007, which is the first quarter for Noah's fiscal year ending June 30, 2008.(1)

Highlights for the Fiscal Quarter Ended September 30, 2007
-- Total net revenues increased by 40.0% year-over-year to RMB247.5
million (US$33.0 million) from RMB176.8 million in the first quarter of
fiscal year 2007.

-- Net income increased by 39.4% year-over-year to RMB44.5 million (US$5.9
million) from RMB31.9 million in the first quarter of fiscal year 2007,
and net income excluding share-based compensation expenses and the
change in the fair value of warrants (non-GAAP) increased by 63.3%
year-over-year to RMB52.1 million (US$7.0 million).

-- Basic and diluted earnings per share were RMB1.58 (US$0.21) and RMB1.50
(US$0.20), respectively. Excluding share-based compensation expenses
and the change of the fair value of warrants (non-GAAP), basic and
diluted earnings per share were RMB1.85 (US$0.25) and RMB1.83 (US$0.24),
respectively. Each ADS represents one ordinary share. The weighted
averaged ordinary shares outstanding in calculating basic and diluted
earnings per share were 21,473,442 and 21,687,452.

-- Total sales volume of handheld digital learning devices ("DLDs") for
the quarter increased by 20.5% year-over-year to approximately 229,000
from approximately 190,000 in the first quarter of fiscal year 2007.
E-dictionary sales volume decreased slightly to approximately 211,000
from approximately 219,000 in the first quarter of 2007.

-- Total coursewares available increased to approximately 30,000 from
approximately 28,000 as of the end of the fourth quarter of 2007.

-- As of September 30, 2007 we had 3 after-school tutoring centers in
Chengdu.

"We are very pleased with the results of the first quarter of our fiscal year 2008," said Mr. Dong Xu, Noah's Chairman and Chief Executive Officer. "We saw strong growth in sales of DLDs as we continued to leverage our brand name, content development capabilities, leading market position and national sales and distribution network to deepen the penetration of our innovative and user- friendly products in China's growing market of students aged 5 to19."

Noah noted that the first quarter of its fiscal year is typically stronger in terms of sales as it coincides with the beginning of school semesters and as Chinese children spend more time in the summer months shopping for learning products and pursuing study outside of the classroom.

Financial Results for the Fiscal Quarter Ended September 30, 2007

For the first fiscal quarter of 2008, Noah reported net revenues of RMB247.5 million (US$33.0 million), a 40.0% increase year-over-year. The increase was primarily attributable to a substantial increase in sales of DLDs. Total sales volume of DLDs for the quarter increased by 20.5% year-over-year to approximately 229,000 from approximately 190,000 in the first quarter of fiscal year 2007.

Gross profit margin was 50.2%, compared to 59.4% in the corresponding period last year. The decrease was primarily attributable to an increase in the purchasing cost of certain raw material components of DLDs such as flash chips and memory boards, during July and August.

Total operating expenses as a percentage of net revenue was 35.5%, compared to 47.0% in the corresponding period last year. The decrease was primarily attributable to the decrease in sales and marketing expenses, as a percentage of net revenue.

Operating margin for the quarter was 20.5%, compared to 18.5% in the corresponding period last year. Excluding share-based compensation expenses (non-GAAP), operating margin for the quarter was 21.2%, compared to 18.5% in the corresponding period of the prior year.

Total share-based compensation expenses, which were allocated to related operating costs and expenses, increased to RMB1.8 million (US$0.25 million) in the first fiscal quarter of 2008 from RMB0.0 in the first fiscal quarter of 2007.

Net income for the quarter was RMB44.5 million (US$5.9 million), a 39.4% increase from the first fiscal quarter of 2007. Basic and diluted earnings per share amounted to RMB1.58 (US$0.21) and RMB1.50 (US$0.20).

Net income excluding share-based compensation expenses and the change in fair value of warrants (non-GAAP) was RMB52.1 million (US$7.0 million). Basic and diluted earnings per share excluding share-based compensation expenses and the change of the fair value of warrants (non-GAAP) were RMB1.85 (US$0.25) and RMB1.83 (US$0.24), respectively.

As of September 30, 2007, Noah had cash and cash equivalents of RMB77.5 million (US$10.3 million). Net operating cash flow for the first quarter of fiscal year 2008 was RMB3.2 million (US$0.43 million).

Outlook for Fiscal Second Quarter 2008

Noah expects its total net revenues of fiscal year 2008 (July 1, 2007 to June 30, 2008) to be in the range of RMB720 million (US$96 million) to RMB730 million (US$97 million), representing year-over-year growth in the range of 30% to 32%, respectively. This forecast reflects Noah's current and preliminary view, which is subject to change.

Conference Call Information

Noah's management will host an earnings conference call at 8 p.m. on November 19, 2007 U.S. Eastern Standard Time (9 a.m. on November 20, 2007 Beijing/Hong Kong time).


Dial-in details for the earnings conference call are as follows:
US: [phone]
Hong Kong: [phone]

Please dial-in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "Noah earnings call".

A replay of the conference call may be accessed by phone at the following number until December 19, 2007:

International: [phone]

Passcode: 31729950

Additionally, a live and archived webcast of this conference call will be available at http://ir.noahtech.com.cn .

About Noah

Noah Education Holdings Limited ("Noah") (NYSE: NED - News) is a leading provider of interactive education content in China. Noah develops and markets interactive multimedia learning materials mainly to complement prescribed textbooks used in China's primary and secondary school curricula. Noah delivers content primarily through handheld digital learning devices, or DLDs. In 2007, Noah opened its first after-school tutoring center in Chengdu, China as part of its strategy to become China's leading brand in supplemental education content and service. For more information about Noah, please visit http://www.noahtech.com.cn .

Safe Harbor Statement

This press release contains forward-looking statements that reflect Noah's current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Noah has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that its believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that our actual future results may be materially different from and worse than what Noah expects. Information regarding these risks, uncertainties and other factors is included in Noah's filings with the SEC.



(1) This announcement contains translations of certain RMB amounts into
U.S. dollars at specified rates solely for the convenience of the
reader. Unless otherwise noted, all translations from RMB to U.S.
dollars are made at a rate of RMB7.4928 to US$1.00, the effective noon
buying rate as of September 28, 2007 in The City of New York for cable
transfers of RMB as certified for customs purposes by the Federal
Reserve Bank of New York.