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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 Six Months Ended

March 31, 2017
(unaudited)

April 1, 2016
(unaudited)

March 31, 2017
(unaudited)

April 1, 2016
(unaudited)

 
Revenues $16,071 $18,688 $34,623 $38,819
Cost of revenues 9,630 12,659 20,218 24,513
     Gross profit 6,441 6,029 14,405 14,306
 
Operating expenses:
     Course development 752 1,322 1,521 2,636
     Sales and marketing 3,485 4,890 7,062 9,509
     General and administrative 3,880 5,044 8,002 9,658
     Restructuring charge 386 - 386 -
          Total operating expenses 8,503 11,256 16,971 21,803
 
Loss from operations (2,062) (5,227) (2,566) (7,497)
Other income (expense), net (111) (85) 90 (9)
Loss from operations before income taxes (2,173) (5,312) (2,476) (7,506)
 
Provision for income tax 176 59 252 144
Net loss $(2,349) $(5,371) $(2,728) $(7,650)
 
Loss per share basic and diluted:
    Basic and diluted loss per share $(0.18) $(0.41) $(0.21) $(0.58)
 
LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(all amounts in thousands)

March 31, 2017
(unaudited)

 

September 30, 2016

 
Cash and cash equivalents $5,327 $8,540
Trade accounts receivable, net 7,283 9,538
Prepaid expenses and other 3,471 3,548
          Total current assets 16,081 21,626
Depreciable assets, net and other 8,974 9,981
          Total assets $25,055 $31,607
 
Accounts payable and accrued liabilities $10,876 $11,149
Deferred revenues 17,824 21,017
          Total current liabilities   28,700   32,166
Other long term liabilities 9,120 9,230
          Total liabilities   37,820   41,396
 
Stockholders' equity (12,765) (9,789)
          Total liabilities and stockholders' (deficit) equity $25,055 $31,607

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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