[R]12:30PM New York – ChinaEdu, Worldspace, Smart Modular and Luby’s stocks struggle with falling earnings.[/R]

ChinaEdu Corporation, an educational services provider total net revenue for the fourth quarter of 2007 increased 37.6% to Rmb 79.6 million ($10.9 million) from Rmb 57.9 million in the fourth quarter of 2006.

Net income for the fourth quarter of 2007 increased 220.6% to Rmb 9.4 million ($1.3 million) from Rmb 2.9 million for the same period in 2006. Diluted earnings per ordinary share for the fourth quarter of 2007 increased by 171.4% to Rmb 0.19 ($0.03) from Rmb 0.07 for the fourth the same quarter of 2006.

Total net revenue for the fiscal year 2007 increased by 24.1% to Rmb 265.0 million ($36.3 million) from Rmb 213.5 million for the fiscal year 2006.

Net income for the fiscal year 2007 decreased by 90.3% to Rmb 2.5 million ($0.3 million) from Rmb 25.5 million for the fiscal year 2006. Diluted earnings per ordinary share for the fiscal year 2007 decreased by 91.7% to Rmb 0.05 ($0.01) per share from Rmb 0.60 per share for the fiscal year 2006.

For the first quarter of 2008, ChinaEdu expects its total net revenue to be in the range of Rmb 66 million ($9.0 million) to Rmb 68 million ($9.3 million).

ChinaEdu (CEDU: chart) closed up 18 cents or 2.8% to $6.58.


Luby's, Inc., restaurant chain operator reported second quarter revenue rose 1% to $72.6 million from $72.2 million.

Same-store sales fell 1.6%.

Restaurant sales, which make up the bulk of the company's revenue, fell to $71 million from $72 million. Culinary contract services revenue rose to $1.7 million from $97,000. For the quarter ended Feb. 13, net income dropped to $286,000, or a penny per share, from $1.9 million, or 7 cents per share, in the prior-year quarter.

Luby's Inc. (LUB: chart) shares fell 5 cents to close at $7.47.


SMART Modular Technologies, Inc., an electronic system supplier said that revenue fell 33% to $159.6 million from $239.1 million.

For the quarter ended Feb. 29, the company earned $10.9 million, or 17 cents per share, down 22% from $14 million or 22 cents per share, in the same period a year ago.

SMART Modular Technologies Inc. (SMOD: chart) stock was down 22 cents, or 4.3% to $4.90.


Worldspace, Inc. (WRSP: chart) provider of satellite-based digital radio services reported revenue for the fourth quarter ended December 2007 approx $3.8 million, compared to approx revenue for same quarter for the year of 2006 was $5.0 million.

Net loss for the fourth quarter ended 2007 were $46.0 million, or $1.10 per share, compared to net loss of $33.8 million, or $0.89 per share for the same quarter of 2006.

Full year net revenue for 2007 was $13.8 million compared to net revenues of $15.6 million in 2006.