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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 Fiscal Year Ended

September 30, 2016
(Unaudited)

October 2, 2015
(Unaudited)

September 30, 2016
 

October 2, 2015
 

 
Revenues $21,695 $25,629 $81,587 $94,884
Cost of revenues 12,418 13,760 50,163 55,809
     Gross profit 9,277 11,869 31,424 39,075
 
Operating expenses:
     Course development 1,138 1,751 5,128 8,146
     Sales and marketing 3,747 4,592 17,966 21,591
     General and administrative 4,494 4,754 18,902 19,029
     Restructuring charge 1,940 - 1,940 -
          Total operating expenses 11,319 11,097 43,936 48,766
 
(Loss) income from operations (2,042) 772 (12,512) (9,691)
Other income (expense), net 53 4 238 350
(Loss) income from continuing operations before income taxes (1,989) 776 (12,274) (9,341)
 
Provision for income tax 227 35 422 467
(Loss) income from continuing operations (2,216) 741 (12,696) (9,808)
 
Loss from discontinued operations, net of tax - - - (264)
Loss on disposal of discontinued segment - - - (2,501)
Loss from discontinued operations, net of tax - - - (2,765)
Net (loss) income $(2,216) $741 $(12,696) $(12,573)
 
(Loss) income per share basic and diluted:
    Continuing operations $(0.17) $0.06 $(0.96) $(0.74)
    Discontinued operations - - - (0.21)
    Basic and diluted (loss) income per share $(0.17) $0.06 $(0.96) $(0.95)
 
LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(all amounts in thousands)

September 30, 2016

 

October 2, 2015

 
Cash and cash equivalents $8,540 $17,936
Trade accounts receivable, net 9,538 10,475
Prepaid expenses and other 3,548 5,018
          Total current assets 21,626 33,429
Depreciable assets, net and other 9,981 10,492
          Total assets $31,607 $43,921
 
Accounts payable and accrued liabilities $11,149 $12,409
Deferred revenues 21,017 22,909
          Total current liabilities   32,166   35,318
Other long term liabilities 9,230 5,556
          Total liabilities   41,396   40,874
 
Stockholders' equity (9,789) 3,047
          Total liabilities and stockholders' (deficit) equity $31,607 $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

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