HARBIN, Heilongjiang, China, Feb. 12 /Xinhua-PRNewswire/ -- China Education Alliance, Inc. (OTC Bulletin Board: CEUA) ("China Education Alliance" or "the Company"), a leading distributor of educational resources, offering high-quality programs and training both through online networks and an on-site training center in China, today announced financial guidance for 2008.
China Education Alliance has targeted net income for 2008 to be in the range of $8.5 to $11.0 million and earnings per share of $0.32 to $0.41. These estimates exclude the impact of any potential future acquisitions the Company may make. Additionally, the estimates are calculated using fully diluted shares of 27.0 million, which assumes conversion of all outstanding preferred and warrants. The Company's guidance reflects its expectations for continued geographic expansion into other provinces of its online materials and education business as well as contributions from recent strategic collaborations and initiatives in its vocational education segment.
"We remain optimistic about our long-term outlook and that China Education Alliance will be able to continue to execute on our plans to replicate our successful business model into other provinces beyond Heilongjiang where we dominate," said Mr. Xiqun Yu, Chairman and CEO of China Education Alliance. "Additionally, we expect our recently announced collaboration agreements in our vocational education segment could add incrementally to our earnings in 2008 and beyond" added Mr. Yu.
About China Education Alliance, Inc.
The Company is an educational resource company offering high-quality educational programs and training through both online networks and an on-site training center. The Company's products include online test preparation materials, researchers' materials, study guides, and audio recordings, vocational training services and vocational certifications. The Company conducts educational services through three main channels: a large educational online portal, educational software and media, and education and vocational training centers. The Company is currently selling educational products and services to families, provincial education officials, administrators, schools and teachers in China.
Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our ability to prepare the Company for growth, the Company's planned expansion in 2008 and predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs and are not a guarantee of future performance but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the education industry, pricing and demand trends for the Company's products, changes to government regulations, risk associated with operation of the Company's new facilities, risk associated with large scale implementation of the Company's business plan, the ability to attract new customers, ability to increase its product's applications, cost of raw materials, downturns in the Chinese economy, the adoption by consumers of its new game business, the unproven advertising model that is dependent on attracting a large game user base, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. Investors are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release, readers are cautioned not to place undue reliance on any of them and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
