Skillful Craftsman Announces Financial Results for The First Six Months of Fiscal Year 2021

About this update from Skillful Craftsman Education Technology Limited

[{"type":"text","content":"14% year-over-year revenue growth28% year-over-year total fee-paying members growth WUXI, China, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Skillful Craftsman Education Technology Ltd. (“the Company”) (NASDAQ: EDTK), an education technology company providing interactive online learning services, today announced its financial results for the first six months of fiscal year 2021 ended September 30, 2020. First Six Months of Fiscal Year 2021 Financial and Operational Highlights All financial figures are in US Dollars unless otherwise noted. Revenue was $15.3 million, compared with $13.4 million for the same period of last year, representing a 14% increase.Gross profit was $8.5 million, compared with $8.1 million for the same period of last year, representing a 5% increase.Gross profit margin was 55%, compared with 60% for the same period of last year.Net income was $4.39 million, compared with $5.13 million for the same period of last year. The decrease was due in part to one-time expense related to the Company’s initial public offering (“IPO”).Basic and diluted earnings per share were $0.44, compared with $0.57 for the same period of last year.Total fee-paying members1 reached 3.28 million, compared with 2.57 million during the same period of last year, representing a 28% increase. 1Number of fee-paying members is defined as the total number of members that are paying fees for accessing our platforms as of the end of the applicable period. Mr. Xiaofeng Gao, Chairman and CEO of Skillful Craftsman Education Technology Ltd., commented, “We are excited to announce our strong results for the first six months of fiscal year 2021 ended September 30, 2020. Our revenue increased by 14% to $15.3 million, from $13.4 million for the same period of last year and our total fee-paying members increased by 28% to 3.28 million, compared with 2.57 million during the same period of last year. We believe the results demonstrate the resilience of our business, the experience of our senior management team, and our commitment to quality service. As an education technology company, we strive to optimize our service and diversify our offerings to meet the evolving needs of the market. We believe that the current business climate, which encourages remote learning, will enhance our business growth more than ever. We have been pursuing our business strategies to expa...

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