TAL International Group, Inc. (NYSE:TAL) Q2 2019 Earnings Conference Call Transcript
Oct 25, 2018 • 08:00 am ET
Ladies and gentlemen, thank you for standing by, and welcome to TAL Education Group's Second Fiscal Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. There will be a presentation followed by question-and-answer session. (Operator Instructions) I must advise you that this conference is being recorded today. I would now like to hand the conference over to your first speaker, Ms. Echo Yan, IR Director of TAL Education Group. Thank you. Please go ahead.
Thank you all for joining us today for TAL Education Group's second fiscal quarter 2019 earnings conference call. The earnings release was distributed earlier today and you may find a copy on the Company IR website or through the newswires. During this call, you will hear from CFO, Mr. Rong Luo. Following the prepared remarks, Mr. Luo will be available to answer your questions. (Forward-Looking and Cautionary Statements) I would like now to turn the call over to Mr. Rong Luo.
Good evening and good morning to you all. Thank you for joining us today on this earnings call. Our second quarter revenue growth was based on stable demand in the cities we currently cover and a contribution from our Online courses.Revenue growth in the second quarter was 53.5% year-over-year in U.S dollar and to $699.8 million, and 57.1% in RMB terms. Student enrollments increased by 120.2% year-over-year mostly driven by the growth in the Online enrollments, as well as Xueersi Peiyou Small Class. GAAP income from operations increased by 18.4% to US$80.9 million in the second quarter. Non-GAAP income from operations grew by 23.8% to $99 million. I will now turn the call over to Echo Yan, our IR Director, she will give you an update on our operational progress in the second quarter. After that I will update you on our business strategy and execution and discuss our business outlook.