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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 30, 2017
(unaudited)

July 1, 2016
(unaudited)

June 30, 2017
(unaudited)

July 1, 2016
(unaudited)

 
Revenues $16,404 $21,073 $51,027 $59,892
Cost of revenues 9,572 13,232 29,790 37,745
     Gross profit 6,832 7,841 21,237 22,147
 
Operating expenses:
     Course development 663 1,354 2,184 3,990
     Sales and marketing 3,199 4,710 10,261 14,219
     General and administrative 3,509 4,750 11,511 14,408
     Restructuring charge - - 386 -
          Total operating expenses 7,371 10,814 24,342 32,617
 
Loss from operations (539) (2,973) (3,105) (10,470)
Other income (expense), net (259) 194 (169) 185
Loss from operations before income taxes (798) (2,779) (3,274) (10,285)
 
Provision for income tax 79 51 331 195
Net loss $(877) $(2,830) $(3,605) $(10,480)
 
Loss per share basic and diluted:
    Basic and diluted loss per share $(0.07) $(0.21) $(0.27) $(0.79)
 
LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(all amounts in thousands)

June 30, 2017
(unaudited)

 

September 30, 2016

 
Cash and cash equivalents $5,104 $8,540
Trade accounts receivable, net 7,787 9,538
Prepaid expenses and other 2,995 3,548
          Total current assets 15,886 21,626
Depreciable assets, net and other 8,802 9,981
          Total assets $24,688 $31,607
 
Accounts payable and accrued liabilities $10,268 $11,149
Deferred revenues 18,880 21,017
          Total current liabilities   29,148   32,166
Other long term liabilities 8,962 9,230
          Total liabilities   38,110   41,396
 
Stockholders' equity (13,422) (9,789)
          Total liabilities and stockholders' (deficit) equity $24,688 $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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