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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 Twelve Months Ended

September 28, 2018
(unaudited)

September 29, 2017
(unaudited)

September 28, 2018
 

September 29, 2017
 

 
Revenues $17,324 $19,636 $64,318 $70,663
Cost of revenues 9,580 10,508 36,642 40,298
     Gross profit 7,744 9,128 27,676 30,365
 
Operating expenses:
     Course development 699 684 2,762 2,868
     Sales and marketing 3,149 3,236 12,911 13,497
     General and administrative 3,371 3,438 13,634 14,949
     Restructuring charge 91 - 355 386
          Total operating expenses 7,310 7,358 29,662 31,700
 
Loss from operations 434 1,770 (1,986) (1,335)
Other income (expense), net (66) (159) 60 (328)
Loss from operations before income taxes 368 1,611 (1,926) (1,663)
 
Provision for income tax 68 143 133 474
Net loss $300 $1,468 $(2,059) $(2,137)
 
Loss per share basic and diluted:
    Basic and diluted loss per share $0.02 $0.11 $(0.16) $(0.16)
 
LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(all amounts in thousands)

September 28, 2018

 

September 29, 2017

 
Cash and cash equivalents $4,732 $5,080
Trade accounts receivable, net 8,645 9,725
Prepaid expenses and other 2,855 4,035
          Total current assets 16,232 18,840
Depreciable assets, net and other 6,416 7,423
          Total assets $22,648 $26,263
 
Accounts payable and accrued liabilities $12,662 $10,809
Deferred revenues 16,459 18,383
          Total current liabilities   29,121   29,192
Other long term liabilities 7,443 8,893
          Total liabilities   36,564   38,085
 
Stockholders' equity (13,916) (11,822)
          Total liabilities and stockholders' (deficit) equity $22,648 $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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