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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

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

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