LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(all amounts in thousands, except per share amounts) (Unaudited)
		Three Months Ended					Nine Months Ended
		June 27, 2008		June 29, 2007			June 27, 2008		June 29, 2007
Revenues	$	46,928	$	42,663		$	137,054	$	123,007
Costs of revenues		19,599		18,297			57,639		53,885
Gross profit		27,329		24,366			79,415		69,122
Operating expenses:
Course development		2,620		2,345			7,266		6,125
Sales and marketing		11,227		9,440			32,289		28,723
General and administrative		8,118		7,539			25,329		22,092
Total operating expenses		21,965		19,324			64,884		56,940
Income from operations		5,364		5,042			14,531		12,182
Other income, net		725		980			3,164		3,063
Income before provision for income taxes		6,089		6,022			17,695		15,245
Provision for income taxes		2,270		2,319			6,648		6,089
Net income	$	3,819	$	3,703		$	11,047	$	9,156
Earnings per share--basic	$	0.23	$	0.22		$	0.67	$	0.56
Earnings per share--diluted	$	0.23	$	0.22		$	0.67	$	0.56

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Reconciliation of certain Non GAAP Measures
Third Fiscal Quarter Ended June 27, 2008
Measure		Operating Income			Net Income			Earnings per Share
GAAP Value	$	5,364		$	3,819		$	0.23
Effect of Sale Process Expenses		560			350			0.02
Measure Excluding Sale Process Expenses	$	5,924		$	4,169		$	0.25
Nine Months Ended June 27, 2008
Measure		Operating Income			Net Income			Earnings per Share
GAAP Value	$	14,531		$	11,047		$	0.67
Effect of Sale Process Expenses		560			350			0.02
Measure Excluding Sale Process Expenses	$	15,091		$	11,397		$	0.69

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LEARNING TREE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
(all amounts in thousands) (Unaudited)
	June 27 , 2008			Sept. 28, 2007
Cash and cash equivalents	$	65,572	$	49,732
Available for sale securities		550		38,775
Accounts receivable, net		20,969		19,398
Prepaid expenses and other		9,984		8,732
Income tax receivable		1,930		4,224
Total current assets		99,005		120,861
Available for sale securities		26,025		0
Equipment, long-term investments and other		51,990		43,115
Total assets	$	177,020	$	163,976
Accounts payable and accrued liabilities	$	23,315	$	26,708
Deferred revenues		50,189		50,216
Total current liabilities		73,504		76,924
Other liabilities		17,658		9,844
Total liabilities	$	91,162	$	86,768
Stockholders' equity		85,858		77,208
Total liabilities and stockholders' equity	$	177,020	$	163,976