www.chinaeducationresources.com
VANCOUVER,
May 1, 2012 /PRNewswire/ - China
Education Resources, Inc. ("CER") (TSXV: CHN, OTCQX: CHNUF), a
leading technology provider of online learning, training courses
and social media for teachers, students and education
professionals, announced its financial results for the year ended
December 31, 2011. All figures are
expressed in U.S. dollars.
For the year ended December 31, 2011, CER reported aggregate sales
revenue of $6,553,140 as compared to
$5,436,165 for the same period in
2010. There was an increase in sales for the current year as
compared to the sales of previous year. The Company recognized a
net profit for the year ended December 31,
2011 of $83,481 as compared to
a loss of $561,104 for the same
period in 2010.
2011 financial highlights include:
- Online training revenue of $2,187,832 generated during 2011 as compared to
$1,751,214 during the same period in
2010;
- Text book sales revenue of $4,365,308 generated during 2011 as compared to
$3,684,951 during the same period in
2010.
"We are very pleased with the direction of our
sales and operations. Our four-step growth plan is emerging as the
foundation for a high-growth business model, as the increased
revenues for 2011 are starting to suggest" said Chengfeng Zhou, CEO, China Education Resources.
"Our contacts with over 200 education authorities in various
provinces in China and signed
deals with 14 provinces to provide online training for their
teachers further strengthen our confidence in the successful
commercialization of our leading edge products and services. The
successful financial results in 2011, are more evidence that our
revenue will continue to grow significantly in 2012."
CER is also pleased to update shareholders on
the status of our arrangement with the Shanxi Provincial education
authority, where we are finalizing an agreement to customize the
Company's School Platform for their use. This arrangement will
provide services and education resources to both teachers and
students for educational reform in Shanxi
Province. The education reform emphasizes interaction among
teachers and students with digitized education resources and
multimedia equipment in classrooms.
CER is concluding an agreement with Guizhou Province to provide digital textbooks
to the students in Guizhou
Province through our CERSP portal. This is a significant
step for CER to combine the Company's internet portal with its
traditional textbook business, which provides a unique opportunity
for CER in the textbook industry.
The Company has developed an unparalleled and
broad portfolio of education products that it believes is
unavailable in any other education market. It has been market
tested and developed in the world's largest education market. The
Company intends to explore the potential to provide these online,
networked products and services in other education markets. It may
launch these products on its own or in partnership with domestic
industry players. The Company's goal is to become the leading
internet education service platform, content provider and social
network to individuals and organizations in the education
sector.
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 by 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 one 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.