VANCOUVER,
June 3, 2014 /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 2014. All figures are expressed in U.S. dollars.
China Education Resources generated gross
revenues of $2,457,304 in the first
quarter of 2014. This is compared to gross revenue of $2,403,369 for the same period in 2013. The net
profit attributable to the shareholders of the Company for the
period was $101,894 as compared to a
net loss attributable to shareholders of the Company of
$246,079 for the same period of last
year..
Q1 of 2014 financial highlights include:
Online products revenue of $1,468,728 generated during the first quarter of
2014 as compared to $1,584,044 during
the same period in 2013;
Text book sales revenue of $976,687 generated during the first quarter of
2014 as compared to $819,325 during
the same period in 2013.
"Our sales revenue continuously keeps increasing
and the Company is growing according to its business plan" said
Chengfeng Zhou, CEO, China Education Resources. "The strategic
partnership agreement with a major China local teacher continuous training
company we recently signed will have the synergy effect of bringing
together both parties' training contents and sales channels to
deliver teacher training programs under CER's brand "New Thinking"
to China kindergarten to grade 12
teachers via the CER's online training platform. The arrangement
will significantly reduce CER's cost of marketing and development
of teacher training programs and can generate more revenue to both
parties. Due to the increase in the number of teachers involved in
the training, we can also do cross selling of our other products
and services at the same time."
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.