Hult Prize Finalists Complete Start-Up Boot Camp, Prepare to Present to President Clinton for US1M Prize

Gum for oral care and diabetes detecting bees are two of six innovations seeking to disrupt healthcare opportunities for urban slum dwellers

BOSTON, Aug. 18, 2014 /PRNewswire/ — After completing a month-long start-up accelerator hosted by Hult International Business School’s Boston campus, the six finalist teams vying for the US1M Hult Prize now have one month remaining to refine their pitches before presenting to President Clinton at the CGI Annual Meeting in New York on 23 September.

During the start-up accelerator, teams from University of Pennsylvania, Massachusetts Institute of Technology, HEC Paris, ESADE Business School, Indian School of Business, and York University received mentorship from prominent business leaders and Hult faculty in order to hone their start-up ideas – which address the issue of non-communicable-disease (NCD) in urban slums.

“Given the complexity associated with the healthcare topic, I am excited that we continue to see the same high-quality ideas and solutions coming from the teams,” said Dr. Hitendra Patel, Professor of Innovation at Hult and leader of the Hult Prize Accelerator. “Teams this year are presenting potentially groundbreaking solutions for the prevention and detection of cardiovascular diseases, respiratory diseases, diabetes, and cancer. I am honoured to be a part of the Hult Prize initiative, and wish all of the finalists good luck as they prepare for their final pitches.”

A panel of all-star judges, including Dr. Mohammad Yunus (Nobel Laureate and founder of Grameen Bank), Dr. Sanjay Gupta (neurosurgeon and Chief Medical Correspondent for CNN), Sheila Marcelo (Founder and CEO of Care.com), Fadi Ghandour (Founder and Vice Chairman of Aramex), and Ashish Thakkar (Founder and Managing Director of the Mara Group of companies), will join President Clinton to select the winning team.

“The Hult Prize continues to transform the way students define their place in the world they inherit and how they can address big social issues affecting all of us,” said Dr. Stephen Hodges, President of Hult International Business School. “We are honoured to host these young social entrepreneurs and support them as their ideas come to life.”

Over the last five years, the Hult Prize has brought together 35,000 college and university students from 600 schools to solve some of the world’s most pressing challenges. To learn more about the prize and this year’s solutions, visit http://www.hultprize.org.

TOEIC® Program Releases 2013 TOEIC® Listening and Reading Worldwide Data

– Second annual report highlights widespread use of TOEIC® test to measure English proficiency in the workplace

PRINCETON, N.J., Aug. 15, 2014 /PRNewswire/ — Educational Testing Service (ETS) is releasing the second annual report on TOEIC® test takers worldwide for the TOEIC® Listening and Reading (L&R) assessment.

Logo – http://photos.prnewswire.com/prnh/20120110/DC33419LOGO

The TOEIC®Listening and Reading Report on Test Takers Worldwide is based on the information gathered from all test takers who completed the TOEIC® Background Questionnaire administered in 2013. The report presents information about TOEIC test-takers’ average Listening and Reading scores, educational background, work experience, English language study and use, and the TOEIC test-taking experience.

ETS is making this data available to enable users to learn more about the backgrounds of people who took the test and some of the factors that impacted their TOEIC scores and related improvement in English proficiency. Organizations can look at the data to set score benchmarks and goals; however, because the response rates varied across different background questions, special care should be taken in making inferences based on this data.

“As the English language continues to grow globally, it is critical that score users understand more about who takes the TOEIC test,” says Feng Yu, Executive Director of the TOEIC Program. “And because the questionnaire is so in-depth and the testing process is standardized, test takers of any background and location can be compared fairly by score users.”

Relying on this data and TOEIC scores, organizations can build a more diverse and qualified labor pool to make informed decisions around placing, developing and promoting employees from and within any country or region. Additionally, the growing acceptance of the TOEIC tests around the world means test takers can advance their careers at a wider range of organizations.

Report highlights include:

  • Description of TOEIC L&R test-takers in 2013
  • Average TOEIC scores across native countries, industries, etc.
  • Relationships among L&R scores
  • Test-taker demographics

TOEIC assessments are fair, reliable and valid measures of a test-taker’s ability to use English in the workplace. Used by nearly 14,000 organizations in 150 countries, the TOEIC tests are the international standard for assessing an individual’s English-language proficiency level and measuring how well potential employees can apply their English-language skills in a work environment.

While organizations use TOEIC scores and surveys to build a stronger employee base, job seekers trust the TOEIC Program to differentiate themselves in a competitive job market. TOEIC assessments measure all four language skills and provide descriptions of test-takers’ strengths and weaknesses that can be used to inform critical hiring, placement and training decisions.

To download the report, visit www.ets.org/toeic/publications. For more information about the TOEIC program, please visit www.ets.org/toeic.

About the TOEIC Test
For more than 30 years, the TOEIC test has been the global standard for measuring workplace English-language communication skills. The TOEIC assessment family, including the TOEIC Listening and Reading test, the TOEIC Speaking and Writing tests and the TOEIC Bridge™ test are used by nearly 14,000 businesses, organizations, and government agencies in 150 countries. In 2012, almost seven million TOEIC tests were administered worldwide, solidifying the TOEIC Program as the largest and most widely used English-language assessment for the workplace. For more information on the TOEIC tests and other services provided by the TOEIC Program, visit www.ets.org/toeic.

About ETS
At ETS, we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational institutions and government agencies by providing customized solutions for teacher certification, English language learning, and elementary, secondary and postsecondary education, and by conducting education research, analysis and policy studies. Founded as a nonprofit in 1947, ETS develops, administers and scores more than 50 million tests annually — including theTOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series® assessments — in more than 180 countries, at over 9,000 locations worldwide. www.ets.org.

Aimia forms global strategic partnership with Fractal Analytics, an advanced analytics company

MONTREAL, Aug. 12, 2014 /PRNewswire/ – Aimia, a global leader in loyalty management, has formed a strategic long-term partnership with Fractal Analytics, a leading provider of advanced analytics. The exclusive commercial agreement will deepen Aimia’s analytics capabilities, extending its unparalleled customer insights to deliver a more comprehensive understanding of consumer behavior and improve marketing return-on-investment. It will also extend Aimia’s loyalty expertise to Fractal’s existing clients. As part of the partnership, Aimia is making a minority equity investment in Fractal.

The partnership expands Aimia’s analytics operations, giving it access to best-in-class analytics to enhance its current core capabilities and the opportunity to rapidly embed some of Fractal’s existing predictive analytics solutions such as Customer Genomics® into Aimia’s loyalty solutions. It will also allow more rapid development of new offerings leveraging rich customer data across its programs, products and regions.

“This strategic partnership gives Aimia dedicated access to specialized and scarce top talent as our global analytics business continues to grow,” said Eric Monteiro, Chief Strategy and Analytics Officer, Aimia, who will join Fractal’s board of directors as part of the equity investment. “Fractal brings a mature and experienced team of sophisticated analytics professionals to meet the complex needs of our clients.”

“CMOs across industries increasingly recognize the importance of deeply understanding their customers and hyper-personalizing their experience to inspire their loyalty,” said Srikanth Velamakanni, Co-founder and Chief Executive Officer, Fractal Analytics. “Our partnership with Aimia gives companies access to the world’s best loyalty analytics expertise.”

Founded in 2000, Fractal provides advanced analytics to more than 50 Fortune 1,000 global companies. Fractal has 13 offices across the globe and expects to grow its global headcount from 700 to more than 1,000 by the end of 2014.

About Aimia

Aimia Inc. (“Aimia”) is a global leader in loyalty management. Employing more than 4,300 people in 20 countries worldwide, Aimia offers clients, partners and members proven expertise in launching and managing coalition loyalty programs, delivering proprietary loyalty services, creating value through loyalty analytics and driving innovation in the emerging digital, mobile and social communications spaces.

Aimia owns and operates Aeroplan, Canada’s premier coalition loyalty program, Nectar, the United Kingdom’s largest coalition loyalty program, Nectar Italia, and Smart Button, a leading provider of SaaS loyalty solutions. In addition, Aimia owns stakes in Air Miles Middle East, Travel Club, Spain’s leading coalition loyalty program, Club Premier, Mexico’s leading coalition loyalty program, China Rewards, the first coalition loyalty program in China that enables members to earn and redeem a common currency, Think Big, the owner and operator of BIG – AirAsia and Tune Group’s loyalty program, Brazil’s Prismah Fidelidade and i2c, a joint venture with Sainsbury’s offering insight and data analytics services in the UK to retailers and suppliers. Aimia also holds a minority position in Cardlytics, a US-based private company operating in card-linked marketing, Aimia is listed on the Toronto Stock Exchange (TSX: AIM). For more information, visit us at www.aimia.com.

About Fractal Analytics

Fortune 500 companies recognize analytics is a competitive advantage to understand customers and make better decisions. Fractal Analytics delivers insight, innovation and impact to them through predictive analytics and visual story-telling.

Fractal Analytics’ flagship Customer Genomics® solution helps marketers learn complex customer behavior at an individual level. Its proprietary pattern recognition and machine-learning algorithms learn from every transaction and customer interaction, including social media, to help marketers build a complete view of individual customers across attitudinal and behavioral dimensions. In June of 2013, global private equity firm TA Associates acquired a minority stake in the company for an investment of $25 million, and in May of 2013, information technology and research advisor Gartner named Fractal as one of the top five “Cool Vendors in Analytics.” Learn more at www.fractalanalytics.com

For further information:

Aimia Investor Contact

Karen Keyes
+1 416 352 3728

Aimia Media Contact

Megan Ratcliffe
+44 20 7152 4881

Fractal Analytics Contact

Liam Collopy
Harden Communications Partners, LLC
+1 510 635 4150 Ext. 1009
lcollopy@hardenpartners.com

Canvas Network Announces Minecraft MOOCs and App in a Suite of 15 MOOCs for K-12 Teachers, Students and Parents

— App allows teachers to link Minecraft accounts to Canvas to automatically sync in-game actions with grades and assignments in Canvas

— New suite also includes a MOOC with NASA for students and a Maker Movement MOOC for teachers

SALT LAKE CITY, Aug. 12, 2014 /PRNewswire/ — Learning technology company Instructure, the creator of the Canvas learning management system for K-12 and higher education, today announced a major new experiment in K-12 learning by unveiling a suite of more than 15 MOOCs for teachers, students and even parents on its Canvas Network platform. The most ambitious collection of K-12 MOOCs to date, the suite includes two Minecraft MOOCs that aim to help teachers leverage gamification best practices in the classroom. Enrollment is free and open for registration for anyone in the world at canvas.net.

Free Course for Teachers on How to Get Started with MinecraftEDU from Canvas Network by Instructure.

Free Course for Teachers on How to Get Started with MinecraftEDU from Canvas Network by Instructure.

“Even young kids have gotten very adept at Minecraft, so it can be quite intimidating for teachers,” said Jason Schmidt, an instructional technologist for Bennington Public Schools who will teach the four-week MinecraftEdu MOOC. “If I can help get teachers over that hump, imagine how delighted students will be to have a learning environment tailored to their interests for a change.”

Instructure is also releasing a Minecraft app for Canvas, which allows students to link their Minecraft account to Canvas and use in-game actions to submit assignments. For instance, students can tag locations of their creations for teachers to visit and explore. Contents of books students write in Minecraft will automatically be loaded into the Canvas SpeedGrader. Teachers can even use Redstone, Minecraft’s in-game circuitry tool, to create automatically graded assignments.

“MOOCs have the power to tear down walls and bring our brightest contemporaries together,” said Melissa Loble, senior director of Canvas Network at Instructure. “Through Minecraft and other engaging forums, we want to help teachers and students come together to advance education everywhere.”

With courses ranging from a Mars mission simulator as taught by NASA to a DIY-focused course that teaches fabrication and circuitry to budding makers, the free Canvas Network offerings bring the power and versatility of online learning to the classroom as well as the home. To this end, Noblesville School District is teaching Canvas Network’s first-ever MOOC designed for parents, titled, “Parenting in the Digital Age.”

“Parental involvement in K-12 education has one of the biggest impacts on a child’s commitment to learning,” said Jared Stein, vice president of Research and Education at Instructure. “We’re launching the industry’s first-ever MOOC for parents to help them understand education in a digital world.”

Instructure sought partnering institutions that could help demonstrate the full potential of open online learning. It has already seen notable success with creative approaches to education. Last year, it partnered with the University of California, Irvine and AMC to produce a MOOC based on the hit TV show “The Walking Dead.” This course attracted more than 65,000 users around the world.

In total, seven MOOCs for teachers are launching on Canvas Network today, including:

  1. Digital Literacies 1
  2. Digital Literacies 2
  3. Five Habits of Highly Effective Teachers
  4. Getting Started with MinecraftEDU
  5. Minecraft for Educators
  6. Teachers without Borders: Educating Girls
  7. Tinker, Make and Learn

In addition, seven MOOCs for students will launch on Canvas Network, including:

  1. College Foundations: Reading, Writing, and Math
  2. First Peoples to the Early Republic: Born in Colonialism
  3. Google Ninja
  4. NASA Space Center Houston’s “Mars: The Next Frontier”
  5. The Civil War Era
  6. The Gilded Age to the Roaring Twenties
  7. The Great Depression to the War on Terror

About Canvas Network

Canvas Network offers open, online courses taught by educators everywhere. Powered by the Canvas learning management system, Canvas Network provides a place and platform where teachers, students and institutions worldwide can connect and chart their own course for personal growth, professional development and academic inquiry. Canvas Network is developed and supported by Instructure, an education technology company that partners with educators, institutions, and technologists to build open educational resources and break down barriers to learning.

To learn more or to enroll in any of the new K-12 MOOCs, visit canvas.net.

About Instructure

Instructure, Inc. developed the Canvas learning management system to make teaching and learning easier for everyone, everywhere. Canvas empowers learning in every context with open, usable SaaS technologies. And through Canvas Network, Instructure provides a cloud platform where teachers, learners and institutions worldwide can connect and chart their own course for personal growth, professional development and academic inquiry. Learn more at www.instructure.com.

Contacts

Devin Knighton, Director of Public Relations at Instructure 
(801) 722-8187 | devin@instructure.com 
Twitter: @devinknighton | www.instructure.com 

Matt Reichman, Method Communications
(801) 461-9778 | matt@methodcommunications.com

Copyright © 2014, Instructure, Inc. All rights reserved. Instructure, Canvas and their respective logos are registered trademarks or trademarks of Instructure, Inc. in the United States and/or other countries. Other brands and names may be claimed as the property of others.

Photo – http://photos.prnasia.com/prnh/20140812/8521404539

51job, Inc. Reports Second Quarter 2014 Financial Results

SHANGHAI, August 12, 2014 /PRNewswire/ — 51job, Inc. (Nasdaq: JOBS) (“51job” or the “Company”), a leading provider of integrated human resource services in China, announced today its unaudited financial results for the second quarter of 2014 ended June 30, 2014.

Second Quarter 2014 Financial Highlights:

  • Total revenues increased 13.1% over Q2 2013 to RMB457.5 million (US$73.8 million), exceeding the Company’s guidance range
  • Online recruitment services revenues increased 15.8% over Q2 2013 to RMB312.0 million (US$50.3 million), which reflected the impact of a value-added tax (“VAT”) policy change effective June 1, 2014
  • Gross margin of 73.9% compared with 73.7% in Q2 2013
  • Income from operations decreased 2.4% over Q2 2013 to RMB122.4 million (US$19.7 million)
  • Fully diluted earnings per common share were RMB0.86 (US$0.28 per American depositary share (“ADS”))
  • Excluding share-based compensation expense, gain from foreign currency translation, convertible senior notes issuance costs, change in fair value of convertible notes and change in fair value of zero-strike call options, as well as the related tax effect of these items, non-GAAP adjusted fully diluted earnings per common share were RMB2.75 (US$0.89 per ADS), exceeding the Company’s guidance range
  • Cash and short-term investments increased to RMB4,207.9 million (US$678.3 million) as of June 30, 2014

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, “In the second quarter, we made good progress in our customer acquisition efforts as we saw robust expansion of the unique employer user base in our online business. We were also pleased with the performance of our other HR services area which, despite operational adjustments we are currently undergoing in our HR outsourcing business, maintained solid growth and was lifted by increased contribution of our training and other services. We remain focused on our long-term vision to become the most comprehensive, end-to-end HR services provider in China and are pursuing initiatives, investments and opportunities to strengthen our market leadership and achieve this goal.”

Second Quarter 2014 Unaudited Financial Results

Total revenues for the second quarter ended June 30, 2014 were RMB457.5 million (US$73.8 million), an increase of 13.1% from RMB404.4 million for the same quarter in 2013.

Online recruitment services revenues for the second quarter of 2014 were RMB312.0 million (US$50.3 million), representing a 15.8% increase from RMB269.5 million for the same quarter of the prior year. The growth was principally due to an increase in the number of unique employers using online recruitment services, which was partially offset by a decrease in average revenue per unique employer and the impact of the VAT policy change effective June 1, 2014 (as described below in “Other Company News”). Unique employers increased 21.3% to 280,203 in the second quarter of 2014 compared with 231,011 in the same quarter of the prior year driven by strengthened customer acquisition efforts and increased usage of online recruitment services by employers. However, average revenue per unique employer decreased 4.6% in the second quarter of 2014 as compared with the same quarter in 2013 primarily due to the addition of new customers who generally purchase introductory, lower priced services and the effect of the VAT policy change on online recruitment services revenues.

Print advertising revenues for the second quarter of 2014 decreased 78.8% to RMB2.3 million (US$0.4 million) compared with RMB11.0 million for the same quarter in 2013 primarily due to the ongoing business transition away from print advertising services. The estimated number of print advertising pages generated in the second quarter of 2014 was 21 pages compared with 355 pages in the same quarter in 2013. The Company operates a print publication in the city of Xian as of June 30, 2014 compared with five cities as of June 30, 2013.

Other human resource related revenues for the second quarter of 2014 increased 15.6% to RMB143.2 million (US$23.1 million) from RMB123.8 million in the same quarter of 2013 primarily due to growth and usage of business process outsourcing and training services.

Gross profit for the second quarter of 2014 increased 13.9% to RMB325.8 million (US$52.5 million) from RMB286.0 million for the same quarter of the prior year. Gross margin, which is gross profit as a percentage of net revenues, increased to 73.9% in the second quarter of 2014 compared with 73.7% in the same quarter in 2013.

Operating expenses for the second quarter of 2014 increased 26.7% to RMB203.4 million (US$32.8 million) from RMB160.6 million for the same quarter of 2013. Sales and marketing expenses for the second quarter of 2014 increased 28.3% to RMB142.6 million (US$23.0 million) from RMB111.1 million for the same quarter of the prior year primarily due to additional sales headcount, higher employee compensation expenses and greater advertising expenditures. General and administrative expenses for the second quarter of 2014 increased 23.0% to RMB60.8 million (US$9.8 million) from RMB49.4 million in the second quarter of 2013 primarily due to higher share-based compensation expense and professional service fees as well as greater office, rental and depreciation expenses.

Income from operations for the second quarter of 2014 decreased 2.4% to RMB122.4 million (US$19.7 million) from RMB125.5 million for the same quarter of the prior year. Operating margin, which is income from operations as a percentage of net revenues, was 27.8% in the second quarter of 2014 compared with 32.3% in the same quarter of 2013. Excluding share-based compensation expense, operating margin would be 31.9% in the second quarter of 2014 compared with 36.2% in the same quarter of 2013.

In April 2014, the Company completed an offering of US$172.5 million in convertible senior notes. In connection with this offering, US$50 million of the net proceeds received by the Company was used to enter into zero-strike call option transactions, which were executed in the second quarter. As a result, in the second quarter of 2014, the Company recognized a mark-to-market loss of RMB28.9 million (US$4.7 million) associated with a change in fair value of convertible notes and of RMB24.9 million (US$4.0 million) associated with a change in fair value of zero-strike call options. The Company also incurred RMB47.2 million (US$7.6 million) in one-time issuance costs related to the convertible notes offering in the second quarter of 2014.

Other income in the second quarter of 2014 included local government financial subsidies of RMB32.6 million (US$5.3 million). The effective tax rate in the second quarter of 2014 increased to 36.0% compared with 17.5% in the second quarter of 2013 as a result of non-tax deductible items, primarily the convertible notes issuance costs and the changes in fair value of convertible notes and zero-strike call options, which comprised a large portion of the income before income tax base. The effective tax rate on non-GAAP results in the second quarter of 2014 was 15.0% compared with 15.6% in the second quarter of 2013.

Net income for the second quarter of 2014 was RMB52.0 million (US$8.4 million) compared with RMB119.2 million for the same quarter in 2013. Fully diluted earnings per common share for the second quarter of 2014 were RMB0.86 (US$0.14) compared with RMB1.99 for the same quarter in 2013. Fully diluted earnings per ADS for the second quarter of 2014 were RMB1.72 (US$0.28) compared with RMB3.98 in the second quarter of 2013.

In the second quarter of 2014, total share-based compensation expense was RMB18.3 million (US$3.0 million) compared with RMB14.8 million in the second quarter of 2013. The Company also recognized a gain from foreign currency translation of RMB5.3 million (US$0.9 million) in the second quarter of 2014 compared with a loss of RMB2.4 million in the second quarter of 2013.

Excluding share-based compensation expense, gain/loss from foreign currency translation, convertible senior notes issuance costs, change in fair value of convertible notes and change in fair value of zero-strike call options, as well as the related tax effect of these items, non-GAAP adjusted net income for the second quarter of 2014 increased 21.5% to RMB165.8 million (US$26.7 million) compared with RMB136.4 million for the second quarter of 2013. Non-GAAP adjusted fully diluted earnings per common share were RMB2.75 (US$0.44) in the second quarter of 2014 compared with RMB2.28 in the second quarter of 2013. Non-GAAP adjusted fully diluted earnings per ADS in the second quarter of 2014 were RMB5.50 (US$0.89) compared with RMB4.56 in the second quarter of 2013.

Six Months 2014 Unaudited Financial Results

Total revenues for the six months ended June 30, 2014 were RMB894.7 million (US$144.2 million), an increase of 14.0% from RMB784.7 million for the same period in 2013. Income from operations for the six months ended June 30, 2014 increased 0.5% to RMB242.2 million (US$39.0 million) from RMB241.0 million for the same period in 2013.

Net income for the six months ended June 30, 2014 was RMB170.4 million (US$27.5 million) compared with RMB228.0 million for the same period in 2013. Fully diluted earnings per common share for the six months ended June 30, 2014 was RMB2.81 (US$0.45) compared with RMB3.81 for the same period in 2013. Fully diluted earnings per ADS for the six months ended June 30, 2014 were RMB5.63 (US$0.91) compared with RMB7.63 for the same period in 2013.

Excluding share-based compensation expense, gain/loss from foreign currency translation, convertible senior notes issuance costs, change in fair value of convertible notes and change in fair value of zero-strike call options, as well as the related tax effect of these items, non-GAAP adjusted net income for the six months ended June 30, 2014 increased 16.7% to RMB303.4 million (US$48.9 million) from RMB260.1 million for the six months ended June 30, 2013. Non-GAAP adjusted fully diluted earnings per common share were RMB5.01 (US$0.81) for the six months ended June 30, 2014 compared with RMB4.35 in the same period in 2013. Non-GAAP adjusted fully diluted earnings per ADS for the six months ended June 30, 2014 were RMB10.02 (US$1.62) compared with RMB8.70 in the same period in 2013.

As of June 30, 2014, cash and short-term investments totaled RMB4,207.9 million (US$678.3 million) compared with RMB3,147.5 million as of December 31, 2013. Short-term investments consist of certificates of deposit with original maturities from three months to one year.

Business Outlook

Based on current market conditions and factoring in a full-quarter effect of the VAT policy change, the Company’s total revenues target for the third quarter of 2014 is in the estimated range of RMB455 million to RMB470 million (US$73.3 million to US$75.8 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation, and any mark-to-market gain or loss associated with a change in fair value of convertible notes, as well as the related tax effect of these items, the Company’s non-GAAP fully diluted earnings target for the third quarter of 2014 is in the estimated range of RMB2.25 to RMB2.45 (US$0.36 to US$0.39) per common share. The Company expects total share-based compensation expense in the third quarter of 2014 to be in the estimated range of RMB21 million to RMB22 million (US$3.4 million to US$3.5 million).

Other Company News

Effective June 1, 2014, the Company’s PRC subsidiaries ceased paying a 3% business tax on gross revenues from value-added telecommunication services in China and instead became subject to a VAT of 6%, reflected directly at the net revenues level, while being permitted to offset input VAT supported by valid VAT invoices received from vendors against the VAT liability. Due to this policy change, the Company’s revenues, principally its online recruitment services revenues, have been reduced, which affects the comparability of revenue figures before and after June 1, 2014.

In June 2014, the Company’s shareholders approved an increase to a share repurchase program originally authorized in September 2008 from US$25 million to US$75 million.

Effective August 8, 2014, the Company changed the ratio of its ADS to common share from one (1) ADS to two (2) common shares to one (1) ADS to one (1) common share. The presentation of per ADS data contained in this press release does not reflect this ratio change.

Currency Convenience Translation

For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollars at the rate of RMB6.2036 to US$1.00, the noon buying rate on June 30, 2014 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

Conference Call Information

Management will hold a conference call at 9:00 p.m. Eastern Time on August 11, 2014 (9:00 a.m. Shanghai / Hong Kong time zone on August 12, 2014) to discuss its second quarter 2014 financial results, operating performance and business outlook. To dial in to the call, please use conference ID 5363023 and the following telephone numbers:

US:

+1-866-839-8029

Hong Kong:

+852-2598-7556

International:

+1-914-449-1588

The call will also be available live and on replay through 51job’s investor relations website, http://ir.51job.com. Please go to the website at least fifteen minutes early to register or install any necessary audio software.

Use of Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), 51job uses non-GAAP financial measures of income before income tax expense, income tax expense, adjusted net income, adjusted earnings per share and adjusted earnings per ADS, which are adjusted from results based on GAAP to exclude share-based compensation expense, gain/loss from foreign currency translation, convertible senior notes issuance costs, change in fair value of convertible notes and change in fair value of zero-strike call options, as well as the related tax effect of these items. The Company believes excluding share-based compensation expense and its related tax effect from its non-GAAP financial measures is useful for its management and investors to assess and analyze the Company’s core operating results as such expense is not directly attributable to the underlying performance of the Company’s business operations and do not impact its cash earnings. The Company believes excluding gain/loss from foreign currency translation and its related tax effect from its non-GAAP financial measures is useful for its management and investors as such translation loss is not indicative of the Company’s core business operations and will not result in cash settlement nor impact the Company’s cash earnings. The Company believes excluding convertible senior notes issuance costs and its related tax effect from its non-GAAP financial measures is useful for its management and investors as such costs are one-time, non-recurring and not attributable to the underlying performance of the Company’s business. The Company believes excluding change in fair value of convertible notes and its related tax effect from its non-GAAP financial measures is useful for its management and investors as such change is not indicative of the Company’s core business operations and will not result in cash settlement nor impact the Company’s cash earnings. The Company believes excluding change in fair value of zero-strike call options and its related tax effect from its non-GAAP financial measures is useful for its management and investors as such change is not indicative of the Company’s core business operations and will not result in cash settlement nor impact the Company’s cash earnings. 51job also believes these non-GAAP financial measures excluding share-based compensation expense, gain/loss from foreign currency translation, convertible senior notes issuance costs, change in fair value of convertible notes and change in fair value of zero-strike call options, as well as the related tax effect of these items, are important in helping investors to understand the Company’s current financial performance and future prospects and to compare business trends among different reporting periods on a consistent basis. The presentation of these additional measures should not be considered a substitute for or superior to GAAP results or as being comparable to results reported or forecasted by other companies. The non-GAAP measures have been reconciled to GAAP measures in the attached financial statements.

About 51job

51job is a leading provider of integrated human resource services in China with a strong focus on recruitment related services. Through online recruitment services at http://www.51job.com and mobile applications, 51job enables enterprises to attract, identify and recruit employees and connects millions of job seekers with employment opportunities. 51job also provides a number of other value-added human resource services, including business process outsourcing, training, executive search and compensation and benefits analysis. 51job has a call center in Wuhan and a nationwide sales office network spanning 25 cities across China.

Safe Harbor Statement

Statements in this release regarding targets for the third quarter of 2014, future business and operating results constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current expectations, and actual results could differ materially. Among the factors that could cause actual results to differ are the number of recruitment advertisements placed, sales orders received and customer contracts executed during the remaining weeks of the third quarter of 2014; any accounting adjustments that may occur during the quarterly close; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; behavioral and operational changes of customers in meeting their human resource needs as they respond to evolving social, economic, regulatory and political changes in China as well as stock market volatilities; introduction by its competitors of new or enhanced products or services; price competition in the market for the various human resource services that the Company provides in China; acceptance of new products and services developed or introduced by the Company outside of the human resources industry; and fluctuations in general economic conditions. For additional information on these and other factors that may affect the Company’s financial results, please refer to the Company’s filings with the Securities and Exchange Commission. 51job undertakes no obligation to update these targets prior to announcing final results for the third quarter of 2014 or as a result of new information, future events or otherwise.

51job, Inc.

Consolidated Statements of Operations and Comprehensive Income

For the Three Months Ended

(In thousands, except share, per share and per ADS data)

June 30, 2013

(unaudited)

June 30, 2014

(unaudited)

June 30, 2014

(unaudited)

RMB

RMB

US$ (Note 1)

Revenues:

Online recruitment services

269,533

312,021

50,297

Print advertising

11,020

2,338

377

Other human resource related revenues

123,808

143,165

23,077

Total revenues

404,361

457,524

73,751

Less: Business and related tax

(16,391)

(16,478)

(2,656)

Net revenues

387,970

441,046

71,095

Cost of services (Note 2)

(101,949)

(115,234)

(18,575)

Gross profit

286,021

325,812

52,520

Operating expenses:

Sales and marketing (Note 3)

(111,117)

(142,568)

(22,981)

General and administrative (Note 4)

(49,438)

(60,805)

(9,802)

Total operating expenses

(160,555)

(203,373)

(32,783)

Income from operations

125,466

122,439

19,737

(Loss) Gain from foreign currency translation

(2,390)

5,337

860

Interest and investment income, net

18,572

22,030

3,551

Convertible senior notes issuance costs

————

(47,210)

(7,610)

Change in fair value of convertible notes

————

(28,879)

(4,655)

Change in fair value of zero-strike call options

————

(24,874)

(4,010)

Other income, net

2,879

32,303

5,207

Income before income tax expense

144,527

81,146

13,080

Income tax expense

(25,291)

(29,189)

(4,705)

Net income

119,236

51,957

8,375

Other comprehensive income:

Foreign currency translation adjustments

(3)

5

1

Comprehensive income

119,233

51,962

8,376

Earnings per share:

Basic

2.04

0.88

0.14

Diluted

1.99

0.86

0.14

Earnings per ADS (Note 5):

Basic

4.08

1.75

0.28

Diluted

3.98

1.72

0.28

Weighted average number of common shares outstanding:

Basic

58,400,383

59,285,976

59,285,976

Diluted

59,899,196

60,273,997

60,273,997


Notes:

1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.2036 to US$1.00 on June
30, 2014 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

2. Includes share-based compensation expense of RMB2,375 and RMB2,935 (US$473) for the three months ended June 30, 2013
and 2014, respectively.

3. Includes share-based compensation expense of RMB2,041 and RMB2,523 (US$407) for the three months ended June 30, 2013
and 2014, respectively.

4. Includes share-based compensation expense of RMB10,403 and RMB12,862 (US$2,073) for the three months ended June 30,
2013 and 2014, respectively.

5. Each ADS represents two common shares.

51job, Inc.

Consolidated Statements of Operations and Comprehensive Income

For the Six Months Ended

(In thousands, except share, per share and per ADS data)

June 30, 2013

(unaudited)

June 30, 2014

(unaudited)

June 30, 2014

(unaudited)

RMB

RMB

US$ (Note 1)

Revenues:

Online recruitment services

517,564

613,564

98,905

Print advertising

35,822

10,776

1,737

Other human resource related revenues

231,350

270,385

43,585

Total revenues

784,736

894,725

144,227

Less: Business and related tax

(32,037)

(34,149)

(5,505)

Net revenues

752,699

860,576

138,722

Cost of services (Note 2)

(201,312)

(222,049)

(35,794)

Gross profit

551,387

638,527

102,928

Operating expenses:

Sales and marketing (Note 3)

(212,550)

(274,521)

(44,252)

General and administrative (Note 4)

(97,858)

(121,796)

(19,633)

Total operating expenses

(310,408)

(396,317)

(63,885)

Income from operations

240,979

242,210

39,043

(Loss) Gain from foreign currency translation

(3,791)

5,876

947

Interest and investment income, net

35,849

43,700

7,044

Convertible senior notes issuance costs

————

(47,210)

(7,610)

Change in fair value of convertible notes

————

(28,879)

(4,655)

Change in fair value of zero-strike call options

————

(24,874)

(4,010)

Other income, net

3,019

32,378

5,219

Income before income tax expense

276,056

223,201

35,978

Income tax expense

(48,028)

(52,765)

(8,505)

Net income

228,028

170,436

27,473

Other comprehensive income:

Foreign currency translation adjustments

(0)

84

14

Comprehensive income

228,028

170,520

27,487

Earnings per share:

Basic

3.92

2.88

0.46

Diluted

3.81

2.81

0.45

Earnings per ADS (Note 5):

Basic

7.84

5.75

0.93

Diluted

7.63

5.63

0.91

Weighted average number of common shares outstanding:

Basic

58,153,065

59,260,210

59,260,210

Diluted

59,802,414

60,550,822

60,550,822


Notes:

1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.2036 to US$1.00 on June
30, 2014 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve
Board.

2. Includes share-based compensation expense of RMB4,531 and RMB6,090 (US$982) for the six months ended June 30, 2013 and
2014, respectively.

3. Includes share-based compensation expense of RMB3,895 and RMB5,235 (US$844) for the six months ended June 30, 2013 and
2014, respectively.

4. Includes share-based compensation expense of RMB19,853 and RMB26,687 (US$4,302) for the six months ended June 30, 2013
and 2014, respectively.

5. Each ADS represents two common shares.

51job, Inc.

Reconciliation of GAAP and Non-GAAP Results

For the Three Months Ended

(In thousands, except share, per share and per ADS data)

June 30, 2013
(unaudited)

June 30, 2014
(unaudited)

June 30, 2014
(unaudited)

RMB

RMB

USD (Note 1)

GAAP income before income tax expense

144,527

81,146

13,080

Add back: Share-based compensation expense

14,819

18,320

2,953

Add back: Loss (Gain) from foreign currency translation

2,390

(5,337)

(860)

Add back: Convertible senior notes issuance costs

————

47,210

7,610

Add back: Change in fair value of convertible notes

————

28,879

4,655

Add back: Change in fair value of zero-strike call options

————

24,874

4,010

Non-GAAP income before income tax expense

161,736

195,092

31,448

GAAP income tax expense

(25,291)

(29,189)

(4,705)

Tax effect of share-based compensation expense, loss (gain) from
foreign currency translation, convertible senior notes issuance
costs, change in fair value of convertible notes and change in
fair value of zero-strike call options

1

(124)

(20)

Non-GAAP income tax expense

(25,290)

(29,313)

(4,725)

Non-GAAP adjusted net income

136,446

165,779

26,723

Non-GAAP adjusted earnings per share:

Basic

2.34

2.80

0.45

Diluted

2.28

2.75

0.44

Non-GAAP adjusted earnings per ADS (Note 2):

Basic

4.67

5.59

0.90

Diluted

4.56

5.50

0.89

Weighted average number of common shares outstanding:

Basic

58,400,383

59,285,976

59,285,976

Diluted

59,899,196

60,273,997

60,273,997


For the Six Months Ended

(In thousands, except share, per share and per ADS data)

June 30, 2013
(unaudited)

June 30, 2014
(unaudited)

June 30, 2014
(unaudited)

RMB

RMB

US$ (Note 1)

GAAP income before income tax expense

276,056

223,201

35,978

Add back: Share-based compensation expense

28,279

38,012

6,128

Add back: Loss (Gain) from foreign currency translation

3,791

(5,876)

(947)

Add back: Convertible senior notes issuance costs

————

47,210

7,610

Add back: Change in fair value of convertible notes

————

28,879

4,655

Add back: Change in fair value of zero-strike call options

————

24,874

4,010

Non-GAAP income before income tax expense

308,126

356,300

57,434

GAAP income tax expense

(48,028)

(52,765)

(8,505)

Tax effect of share-based compensation expense, loss (gain) from
foreign currency translation, convertible senior notes issuance
costs, change in fair value of convertible notes and change in
fair value of zero-strike call options

(0)

(124)

(20)

Non-GAAP income tax expense

(48,028)

(52,889)

(8,525)

Non-GAAP adjusted net income

260,098

303,411

48,909

Non-GAAP adjusted earnings per share:

Basic

4.47

5.12

0.83

Diluted

4.35

5.01

0.81

Non-GAAP adjusted earnings per ADS (Note 2):

Basic

8.95

10.24

1.65

Diluted

8.70

10.02

1.62

Weighted average number of common shares outstanding:

Basic

58,153,065

59,260,210

59,260,210

Diluted

59,802,414

60,550,822

60,550,822


Notes:

1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.2036 to US$1.00 on June
30, 2014 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve
Board.

2. Each ADS represents two common shares.

51job, Inc.

Consolidated Balance Sheets

As of

(In thousands, except share and per share data)

December 31, 2013

(unaudited)

June 30, 2014

(unaudited)

June 30, 2014

(unaudited)

RMB

RMB

US$ (Note 1)

ASSETS

Current assets:

Cash

1,065,543

1,039,449

167,556

Restricted cash

15,489

3,472

560

Short-term investments

2,081,964

3,168,455

510,745

Accounts receivable (net of allowance of RMB3,347 and
RMB804 as of December 31, 2013 and June 30, 2014,
respectively)

62,808

48,820

7,870

Prepayments and other current assets

345,061

401,940

64,791

Deferred tax assets, current

9,757

6,062

977

Total current assets

3,580,622

4,668,198

752,499

Non-current assets:

Property and equipment, net

519,277

530,427

85,503

Intangible assets, net

3,652

8,207

1,323

Other long-term assets

18,808

8,697

1,402

Deferred tax assets, non-current

632

654

105

Total non-current assets

542,369

547,985

88,333

Total assets

4,122,991

5,216,183

840,832

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

22,858

22,180

3,575

Salary and employee related accrual

60,076

43,672

7,040

Taxes payable

78,100

47,256

7,617

Advance from customers

411,877

509,955

82,203

Other payables and accruals

212,978

190,889

30,771

Total current liabilities

785,889

813,952

131,206

Non-current liabilities:

Deferred tax liabilities, non-current

5,983

12,361

1,993

Convertible senior notes

————

1,090,513

175,787

Total non-current liabilities

5,983

1,102,874

177,780

Total liabilities

791,872

Shiv Khera Announces Hi-Impact Leadership Training Program in Singapore

SINGAPORE, Aug. 11, 2014 /PRNewswire/ — “Accelerate success and optimize performance” is what Shiv Khera helps to achieve through his 3 Day Hi-Impact Leadership Program called Blue Print for Success to be held in Singapore from 29th to 31st August, 2014.

He is the author of international bestseller “You Can Win”, which has sold over 3 million copies in 16 languages.  His leadership programs helps increase productivity by creating a culture of trust and accountability.  His program is designed to convert potential into performance.  

Topics that will be covered include attitude, leadership, motivation and values.  Over 40,000 people have benefited from his dynamic workshops and millions have heard him as a keynote speaker in 20 countries.

Upon completion of his 3 day program participants walk away with 31 day action plan that can be put to practice immediately.

Some of the comments from the previous participants are as follows:

1. “The Best of its Kind.” – Andre Keller, Chief Executive, Zuellig Pharma Sdn. Bhd.

2. “100% Return on my investment is an understatement!” – Linda Baker, CPA, N.J., USA.

3. “….Where was this program 10 years ago? I wish I had an opportunity to do it then…..”      – John Duckworthy, Financial Controller, Revlon Sdn, Bhd, Malaysia

4. Shiv has touched my mind and opened my heart to give back to society the values that have made me succeed as a doctor and CEO of Gleneagles Hospital.”  – Dr. Timothy Low, CEO, Gleneagles Hospital, Singapore.

5. “Excellent! I came to see and I went home wanting to see more.” – Dr S.S. Ngoi, Surgeon, Singapore

His client list includes amongst others Lufthansa, IBM, HSBC, MetLife, Carrier, Philips, Audi, Ericsson, HP, GSK and many more.  

About Shiv Khera – Mr. Shiv Khera is the founder of Qualified Learning Systems USA. His 30 years of research and experience have helped millions on the path of growth & fulfillment. His trademark is, ‘Winners don’t do different things, They do things differently.’

To know more about his 3-days Hi Impact Leadership Program Visit http://www.shivkhera.sg

Contact: Mr. Shiv Khera, Number: +65-31587504

Paradigm Shift: Temaswiss Upskills Banking Professionals in ASEAN

SINGAPORE, Aug. 7, 2014 /PRNewswire/ — Temaswiss Wealth‘s Chief Executive Officer, veteran banker Dr. Ranjan Chakravarty, was featured today in Channel New Asia’s prime-time news programme, Singapore Tonight. Temaswiss Wealth states to be Asia’s premier organization that drives banking professionals’ enablement through domain expertise training.

Dr. Chakravarty particularly highlighted the market paradox of who currently benefits from specialized functional training in banking versus the need to rapidly upskill the local talent pool in Singapore and the ASEAN region. “Some industry stakeholders look at training budget allocation purely from an overtly short-term view and end up allocating budget as a function and proportion of the headcount’s overall cost to the bank. Training may not necessarily reach either a newer generation or functions that typically benefit from a lower-to-mid range compensation package in the industry. Where a senior executive may attend a seminar or conference for a material cost and perceive it as a perk, the same amount could be better spent in domain expertise training for a target population,” he stated. He pointed out the virtues of the Swiss and German banking apprenticeship models that provides: a flexible pool of interims to the industry at all times, subsequent selection aligned to aptitudes and aspirations, greater flexibility for functional shifts within a career and visibly the potential for net talent export.

Dr. Chakravarty further recognized that there is a need for a paradigm shift. “Banking-stakeholders buy-in and affordable training targeting the relevant talent pool can only succeed through a concerted effort of public and private-sector enablers such as ourselves,” he observed.  “The banks do have to consider the costs of high staff turnover which could have been in some instances entirely avoidable by growing staff organizational loyalty and retention measures through training,” he concluded.

Temaswiss is a supporting partner to the prestigious FT ASEAN Wealth Management Summit taking place on 18 November in Singapore. The organization emphasizes on practical skill sets and domain knowledge as versus tertiary-education style programmes. A number of its unique course offerings are available for enrollment: Banker Ethics and Conduct, Banking Unit Audit Preparedness, Cross-Border and Outsourcing Risks. Temaswiss’ flagship Continuous Professional Development (CPD) cluster-courses programme, Mercator 360o Private Banker Certification is also expected to be launched later this month. There has been un-paralleled show of interest from banks in the ASEAN region and Hong Kong for Temaswiss’ tailor-made onsite and offsite programmes covering frontline bankers, middle office and risk management functions.

For inquiries please contact:

Mr. Shanmuga Retnam, Chief Business Officer, Temaswiss Wealth
Gen: +65-6222-9529 DID: +65-6222-9527

New World Facilities Management First Honored as “Family-Friendly Employer”

HONG KONG, Aug. 7, 2014 /PRNewswire/ — New World Facilities Management Company Limited (NWFM) which manages and operates Youth Square is commended for the first time as the “Family-Friendly Employer” under the 2013/14 Family-Friendly Employers Award Scheme organized by the Family Council, in recognition of its outstanding achievement in implementing family-friendly employment policies and practices that enable employees to manage their time to undertake their family commitments and balance family life in the past year. 

As a non-profit making company, NWFM regards staff as the most valuable asset. During the past year, NWFM proactively instituted diversified family-friendly policies and practices including paternity leave, compassionate leave and early release on festive days to enable staff to manage their time to take care of their family needs. NWFM also cares about the wellness of staff and offers a variety of activities for them including family engagement events, festive meals, community events and interest groups, etc. to achieve a balance between work and life.

Established in 2011, the Family-Friendly Employers Award Scheme is launched by The Family Council. It aims at recognizing companies or organizations who attach importance to the family-friendly spirit, encouraging them to continue to put in place measures to raise employers’ awareness of the importance of family core values, and fostering a pro-family culture and environment. With reference to criteria including family-friendly employment policies and practices, benefits to the company and employees, as well as commitment shown by the management, the Assessment Panel honors those companies or organizations fulfilling the family-friendly requirements of the Award Scheme.

New World Facilities Management Company Limited

New World Facilities Management Company Limited is a non-profit making company and a wholly-owned subsidiary of New World Development Company Limited (Stock Code: 17.HK). Embracing the mission of youth development and supporting youth to contribute to society, we strive to develop Youth Square as the platform for youth to exchange knowledge and experience and to develop and discover their potential.

For more information on New World Facilities Management Company Limited, please visit www.nwfm.com.hk.

Youth Square

Youth Square is a project commissioned by the Home Affairs Bureau of HKSAR Government, and aims to be the hub of diversified youth development activities for youth to develop their potential. Youth Square has a 643-seat Y Theatre, Y Studio, multi-function areas and Y Loft with 148 guest rooms. Youth Square is located in Chai Wan and is managed and operated by New World Facilities Management Company Limited on a non-profit making basis.

For more information on Youth Square, please visit www.youthsquare.hk.