

Financial Statements
LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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| (all amounts in thousands, except per share amounts) (Unaudited) |
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| Three Months Ended | Six Months Ended | ||||||||||
March 29, 2013 |
March 30, 2012 |
March 29, 2013 |
March 30, 2012 |
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| Revenues | $ | 26,933 | $ | 28,942 | $ | 60,223 | $ | 63,917 | |||
| Cost of revenues | 14,859 | 14,558 | 31,280 | 30,192 | |||||||
| Gross profit | 12,074 | 14,384 | 28,943 | 33,725 | |||||||
| Operating expenses: | |||||||||||
| Course development | 1,930 | 2,070 | 4,031 | 4,191 | |||||||
| Sales and marketing | 7,312 | 8,360 | 15,117 | 15,870 | |||||||
| General and administrative | 6,667 | 7,468 | 14,994 | 14,357 | |||||||
| Total operating expenses | 15,909 | 17,898 | 34,142 | 34,418 | |||||||
| Income (loss) from operations | (3,835) | (3,514) | (5,199) | (693) | |||||||
| Other income (expense), net | 206 | (191) | 187 | (145) | |||||||
| Income (loss) before income taxes | (3,629) | (3,705) | (5,012) | (838) | |||||||
| Provision (benefit) for income tax | 386 | (1,586) | 419 | (554) | |||||||
| Net income (loss) | $ | (4,015) | $ | (2,119) | $ | (5,431) | $ | (284) | |||
| Earnings (loss) per share--diluted | $ | (0.30) | $ | (0.16) | $ | (0.41) | $ | (0.02) | |||
| LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS |
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(all amounts in thousands) |
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March 29, 2013 |
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| Cash and cash equivalents | $ | 26,317 | $ | 25,784 |
| Available for sale securities | 0 | 6,131 | ||
| Trade accounts receivable, net | 13,307 | 16,831 | ||
| Prepaid expenses and other | 8,953 | 8,552 | ||
| Total current assets | 48,577 | 57,298 | ||
| Depreciable assets, net and other | 23,473 | 31,748 | ||
| Total assets | $ | 72,050 | $ | 89,046 |
| Accounts payable and accrued liabilities | $ | 15,976 | $ | 20,264 |
| Deferred revenues | 29,084 | 31,899 | ||
| Total current liabilities | 45,060 | 52,163 | ||
| Other | 8,627 | 12,377 | ||
| Total liabilities | 53,687 | 64,540 | ||
| Stockholders' equity | 18,363 | 24,506 | ||
| Total liabilities and stockholders' equity | $ | 72,050 | $ | 89,046 |
Contact Information
For more information, please contact Max Shevitz at our Reston, Virginia Corporate Office (703) 925-5590, or click here »






