New Oriental Education & Technology Group reported earnings results for the second quarter of fiscal year 2013. For the quarter, the company's total revenues increased 30.4% year-over-year to $165.9 million, which is seasonally the slowest quarter for the company. Net loss for the quarter was $15.8 million compared to net income attributed to the company of $3.3 million in the same period of prior fiscal year.

This is due to the factors outlined earlier in the company prepared remarks.