Net revenues increased by 83.3% year-over-year to US$260.6 million from US$142.2 million in the same period of the prior year.
Income from operations increased by 129.8% to US$22.1 million from US$9.6 million in the same period of the prior year. Non-GAAP income from operations increased by 93.1% to US$31.1 million from US$16.1 million in the same period of the prior year.
Basic and diluted net income per American Depositary Share ("ADS") were US$0.17 and US$0.16, respectively. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were US$0.28 and US$0.26, respectively. Each ADS represents two Class A common shares.
Cash, cash equivalents and term deposits totaled US$616.5 million as of November 30, 2016, compared to US$451.3 million as of February 29, 2016.
Total student enrollments increased by 74.6% year-over-year to approximately 834,420 from approximately 477,960 in the same period of the prior year.