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Financial Statements

LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(all amounts in thousands, except per share data)

	Three Months Ended		Nine Months Ended
	June 29, 2018 (unaudited)	June 30, 2017 (unaudited)	June 29, 2018 (unaudited)	June 30, 2017 (unaudited)

Revenues	$16,203	$16,404	$46,994	$51,027
Cost of revenues	9,657	9,572	27,062	29,790
Gross profit	6,546	6,832	19,932	21,237

Operating expenses:
Course development	727	663	2,063	2,184
Sales and marketing	3,231	3,199	9,762	10,261
General and administrative	2,996	3,509	10,263	11,511
Restructuring charge	0	0	264	386
Total operating expenses	6,954	7,371	22,352	24,342

Loss from operations	(408)	(539)	(2,420)	(3,105)
Other income (expense), net	205	(259)	126	(169)
Loss from operations before income taxes	(203)	(798)	(2,294)	(3,274)

Provision for income tax	91	79	65	331
Net loss	$(294)	$(877)	$(2,359)	$(3,605)

Loss per share basic and diluted:
Basic and diluted loss per share	$(0.02)	$(0.07)	$(0.18)	$(0.27)


LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
(all amounts in thousands)
	June 29, 2018 (unaudited)		September 29, 2017

Cash and cash equivalents		$4,772	$5,080
Trade accounts receivable, net		9,790	9,725
Prepaid expenses and other		3,747	4,035
Total current assets		18,309	18,840
Depreciable assets, net and other		6,611	7,423
Total assets		$24,920	$26,263

Accounts payable and accrued liabilities		$12,029	$10,809
Deferred revenues		17,478	18,383
Total current liabilities		29,507	29,192
Other long term liabilities		9,566	8,893
Total liabilities		39,073	38,085

Stockholders' equity		(14,153)	(11,822)
Total liabilities and stockholders' (deficit) equity		$24,920	$26,263

For more information, please contact David Asai at our Herndon, Virginia Corporate Office (703) 925-6337, or Click here »

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