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February 5, 2013
11:17 EDTATAIATA Inc. falls after lowering FY13 guidance
ATA Inc. (ATAI), a provider of computer based testing services in China, reported Q3 earnings per ADS excluding share-based compensation expense and foreign currency exchange gain of 26c, consensus 28c. Q3 revenue rose 24.9% from the prior year to $28.8M. The company lowered its revenue guidance for FY13 to RMB352M-RMB362M from its previous view of RMB390M-RMB410M. ATA also lowered its FY13 net income view to RMB18M-RMB23M, from its previous view of RMB40M-RMB50M. The company attributed its revision in guidance to lower-than-expected results from the TOEIC and HR Select businesses and weaker demand for the Securities Association of China exam. In late morning trading, ATA is down 51c or almost 9%, to $5.18.
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