www.chinaeducationresources.com
VANCOUVER,
May 31, 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 first
quarter of 2012. All figures are expressed in U.S. dollars.
China Education Resources generated gross
revenues of $2,570,769 in the first
quarter of 2012. This is compared to gross revenue of $2,192,958 for the same period in 2011. It
recorded a net profit of $610,839 as
compared to a net profit of $443,991
for the same period in 2011.
Q1 of 2012 financial highlights include:
Online teacher training revenue of $1,566,985 generated during the first quarter of
2012 as compared to $426,110 during
the same period in 2011;
Text book sales revenue of $1,003,784 generated during the first quarter of
2012 as compared to $1,766,848 during
the same period in 2011. The decrease in textbook sales is due to
some customers deferring sales to later quarters.
"We are very pleased with our continually
increasing revenues as demonstrated in our Q1 2012 results, which
is a product of our long term growth plan." said Chengfeng Zhou, CEO, China Education Resources.
"We are implementing our school platform program which will provide
comprehensive education resources and services to teachers and
students. Our goal is to strengthen our position as the leading
provider of digital educations services to China's K-12 sector. We are accomplishing this
through our internet platform, education content and a
comprehensive social network."
CER has engaged Inverness Advisors ("Inverness")
to assist the Company's Board of Directors and management in
raising capital to further expand its digital delivery platform,
sales force and for general corporate purposes. Inverness conducts all securities business
through KEMA Partners LLC, a FINRA member and SEC-registered
broker-dealer.
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 through 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 1 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.