American Education Center, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 14, 2017 at 08:00 am EST
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American Education Center, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenues of $5,215,743 compared to $969,959 a year ago. Loss from the operations was $81,939 compared to $130,385 a year ago. Loss before provision for income taxes was $81,857 compared to $127,976 a year ago. Net loss was $3,054 compared to $51,948 a year ago. Loss per share was $0.0001 compared to $0.0016 a year ago.
For the nine months, the company reported revenues of $20,379,142 compared to $4,880,614 a year ago. Income from the operations was $1,524,828 compared to loss of $184,403 a year ago. Income before provision for income taxes was $1,524,828 compared to loss of $176,801 a year ago. Net income was $1,138,373 compared to loss of $84,031 a year ago. Earnings per basic and diluted share was $0.03 compared to $0.00 a year ago. Net cash used in operating activities was $685,087 compared to $812,211 a year ago.
American Education Center, Inc. is engaged in providing education-related consulting services. The Company operates through two segments: American Education Center, Inc. (AEC New York) and AEC Management Ltd. (AEC BVI). The AEC New York delivers customized high school and college placement and Career Advisory Services to Chinese students wishing to study in the United States. Its advisory services include language training, college admission advisory, on-campus advisory, internship and start-up advisory, as well as student and family services. The AEC BVI, though AEC Southern Shenzhen and Zhongwei, delivers customized high school and college placement and Career Advisory Services to Chinese students wishing to study in the United States through businesses referred by AEC New York to AEC Southern Shenzhen. Its career advisory services include its internship advisory program and its start-up advisory program.
AMERICAN EDUCATION CENTER, INC. 
