Financial Statements
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LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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| (all amounts in thousands, except per share data) | |||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||
September 28, 2018 |
September 29, 2017 |
September 28, 2018 |
September 29, 2017 |
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| 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) | |||||||
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LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS |
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(all amounts in thousands) |
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|
September 28, 2018 |
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| 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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