Business
Learning Tree International Announces Fourth Quarter and Full Year 2017 Results
Learning Tree International Announces Fourth Quarter and Full Year 2017 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 fourth quarter and full fiscal year \n 2017, which ended September 29, 2017.\n \n \n In its fourth quarter of fiscal year 2017, Learning Tree reported \n revenues of $19.6 million, income from operations of $1.8 million, and a \n net income of $1.5 million, or $0.11 per share. These results compare \n with revenues of $21.7 million, loss from operations of $2.0 million, \n and net loss of $2.2 million, or $(0.17) per share, in Learning Tree’s \n fourth quarter of fiscal year 2016. The results for the fourth quarter \n of fiscal year 2016 includes a restructuring charge of $1.9 million \n related to our Reston, Virginia facility. The 9.5% decline in revenues \n for our fourth quarter of fiscal year 2017 when compared to the fourth \n quarter of fiscal year 2016, was offset by a 15.4% reduction in cost of \n revenues. Total operating expenses decreased 35.0% quarter over quarter, \n from $11.3 million to $7.4 million. Total operating expense for the \n fourth quarter of fiscal year 2016 includes the restructuring charge of \n $1.9 million. There was no corresponding charge in the fourth quarter of \n fiscal year 2017.\n \n \n For the full fiscal year 2017, Learning Tree reported revenues of $70.7 \n million, loss from operations of $1.3 million, and a net loss of $2.1 \n million, or $(0.16) per share. These results compare with revenues of \n $81.6 million, loss from operations of $12.5 million, and a net loss of \n $12.7 million, or $(0.96) per share, for the full fiscal year 2016. The \n results for the full fiscal year 2016 includes the restructuring charge \n of $1.9 million, while the full fiscal year 2017 results includes an \n additional restructuring charge of $0.4 million due to changes in \n estimates used to calculate the original restructuring charge.\n \n \n At September 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...