Business
Learning Tree International Announces First Quarter 2018 Results
Learning Tree International Announces First Quarter 2018 Results.
About this update from Learning Tree International Inc
[{"type":"text","content":"\n \n Learning \n Tree International, Inc. (OTCQX: LTRE) announced today its revenues \n and results of operations for its first quarter of fiscal year 2018, \n which ended December 29, 2017.\n \n \n In its first quarter of fiscal year 2018, Learning Tree reported \n revenues of $17.2 million, income from operations of $0.3 million, and a \n net income of $0.4 million, or $0.03 per share. These results compare \n with revenues of $18.6 million, loss from operations of $(0.5) million, \n and net loss of $(0.4) million, or $(0.03) per share, in Learning Tree’s \n first quarter of fiscal year 2017. The results for the first quarter of \n fiscal year 2018 include restructuring charges totaling $0.3 million \n related to our Toronto and Reston facilities. The 7.3% decline in \n revenues for our first quarter of fiscal year 2018 when compared to the \n first quarter of fiscal year 2017, was offset by a 14.1% reduction in \n cost of revenues. Total operating expenses decreased 8.1% quarter over \n quarter, from $8.5 million to $7.8 million. Total operating expense for \n the first quarter of fiscal year 2018 includes the restructuring charge \n of $0.3 million. There was no corresponding charge in the first quarter \n of fiscal year 2017.\n \n \n At December 29, 2017, our capital resources consisted of cash and cash \n equivalents of $5.1 million. We have entered into a financing and \n security agreement that provides us with access to borrow up to $3.0 \n million. To date, we have not borrowed any funds under the financing and \n security agreement.\n \n \n Conference Call and Webcast\n \n \n Learning Tree will host an investor conference call to discuss its \n results for the first quarter and future outlook for the remainder of \n fiscal year 2018 at 4:30 p.m. ET, February 8, 2018. To participate, call \n (888) 419-5570 or +1 (617) 896-9871 (International Callers) and enter \n participant code: 411 397 71 at least five minutes before 4:30 pm (ET) / \n 1:30 pm (PT) on Thursday, February 8, 2018; or, go to Learning Tree’s \n Investor website at www.learningtree.com/investor \n to gain access and listen to the live webcast. A webcast replay of the \n investor conference call will be available for 90 days via the Internet \n through the Investor Relations section of Learning Tree’s website at www.learni...