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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

July 1, 2016
(Unaudited)

July 1, 2015
(Unaudited)

July 1, 2016
(Unaudited)

July 1, 2015
(Unaudited)

 
Revenues $21,073 $22,703 $59,892 $69,255
Cost of revenues 13,232 14,361 37,745 42,049
     Gross profit 7,841 8,342 22,147 27,206
 
Operating expenses:
     Course development 1,354 2,575 3,990 6,395
     Sales and marketing 4,710 5,387 14,219 16,999
     General and administrative 4,750 4,420 14,408 14,275
          Total operating expenses 10,814 12,382 32,617 37,669
 
Loss from operations (2,973) (4,040) (10,470) (10,463)
Other income (expense), net 194 (41) 185 346
Loss from continuing operations before income taxes (2,779) (4,081) (10,285) (10,117)
 
Provision for income tax 51 222 195 432
Loss from continuing operations (2,830) (4,303) (10,480) (10,549)
 
Income (loss) from discontinued operations, net of tax - - - (264)
Loss on disposal of discontinued segment - - - (2,501)
Income (loss) from discontinued operations - - - (2,765)
Net loss $(2,830) $(4,303) $(10,480) $(13,314)
 
Earnings (loss) per share basic and diluted:
    Continuing operations $(0.21) $(0.33) $(0.79) $(0.80)
    Discontinued operations - - - (0.21)
    Basic and diluted loss per share $(0.21) $(0.33) $(0.79) $(1.01)
 
LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(all amounts in thousands)

July 1, 2016
(Unaudited)

 

October 2, 2015

 
Cash and cash equivalents $9,055 $17,936
Trade accounts receivable, net 9,316 10,475
Prepaid expenses and other 4,369 5,018
          Total current assets 22,740 33,429
Depreciable assets, net and other 10,066 10,492
          Total assets $32,806 $43,921
 
Accounts payable and accrued liabilities $9,999 $12,409
Deferred revenues 22,710 22,909
          Total current liabilities   32,709   35,318
Other long term liabilities 7,650 5,556
          Total liabilities   40,359   40,874
 
Stockholders' equity (7,553) 3,047
          Total liabilities and stockholders' equity $32,806 $43,921

Contact Information

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

Learning Tree International, 13650 Dulles Technology Drive, Suite 400, Herndon, VA 20171-6156

Call us at 1.888.843.8733 or Contact us

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Learning Tree International | 13650 Dulles Technology Drive, Suite 400 | Herndon, VA 20171-6156 | 1-888-843-8733
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