Press Releases
LEARNING TREE ANNOUNCES FIRST QUARTER 2007 RESULTS
Reston, VA — July 31, 2007 - Learning Tree International, Inc. (NASDAQ: LTRE) announced today its revenues and results of operations for its first quarter of fiscal year 2007, ended December 29, 2006. Revenues for the quarter ended December 29, 2006 were $42.7 million, a 7% increase from the same quarter of the prior year. The Company reported income from operations for the quarter of $6.1 million compared with income from operations of $2.5 million (restated) for the same quarter of the prior year. Net income for the first quarter of fiscal 2007 was $4.3 million, compared with net income (restated) of $1.9 million for the first quarter of fiscal 2006. Earnings per share for the first quarter of fiscal 2007 were $0.26, compared with $0.11 for the same quarter of the prior year.
“We are pleased to see positive progress from our efforts to improve profitability and grow revenues,” commented Learning Tree President and CEO Nicholas R. Schacht. “We saw some reduction in cost of revenues in the quarter, which contributed to an increase in our gross profit margins. We also realized benefits from our continued efforts to improve our sales and marketing efficiency. We continue to look forward to the full impact of these initiatives in subsequent quarters.” Mr. Schacht also noted that, “We are encouraged by the progress we are making together with our new independent public accounting firm, BDO Seidman, to complete our accounting and reporting for our second and third quarters of fiscal year 2007.”
Learning Tree International is a leading worldwide provider of vendor-independent education and training to IT professionals and managers in business and government organizations. Learning Tree develops, markets and delivers a broad, proprietary library of instructor-led courses focused on Web development, operating systems, programming languages, databases, computer networks, computer and network security, object-oriented technology, project management, leadership, communications, business analysis, and strategic business skills. Learning Tree also tests and certifies IT and business professionals, and Learning Tree courses are recommended for college credit by the American Council on Education. In addition, Learning Tree is on the National Association of State Boards of Accountancy National Registry of CPE sponsors and is a Registered Education Provider of the Project Management Institute (PMI). For more information about Learning Tree products and services, call
Except for historical information contained herein, the matters addressed in this press release are forward-looking statements. Please do not put undue reliance on these forward-looking statements, since they are based on key assumptions about future risks and uncertainties. Although Learning Tree believes that its assumptions are reasonable, inevitably some will prove to be incorrect. As a result, Learning Tree’s actual future results can be expected to differ from those in the discussion that follows, and those differences may be material. Learning Tree is not undertaking any obligation to update forward-looking statements.
In order to help the reader assess the major risks in Learning Tree’s business, Learning Tree has identified many, but not all, of these risks in Exhibit 99.1, “Risk Factors” to Learning Tree’s Annual Report on Form 10-K (“Exhibit 99.1”). Please read that exhibit carefully. Some of the factors discussed in Exhibit 99.1 that could affect Learning Tree include: risks associated with the timely development, introduction, and customer acceptance of Learning Tree’s courses; competition; international operations, including currency fluctuations; changing economic and market conditions; technology development and new technology introduction; efficient delivery and scheduling of Learning Tree’s courses; adverse weather conditions, strikes, acts of war or terrorism and other external events; and attracting and retaining qualified personnel.
Webcast
An investor conference call to discuss first quarter results is scheduled at 4:30 pm EST July 31, 2007. Interested parties are invited to listen to the conference call by accessing the webcast live on Learning Tree’s Web site www.learningtree.com/investor. The webcast will also be available at www.learningtree.com for replay.
Contact Information
Nicholas R. Schacht
President and CEO
Learning Tree International
Phone: (703) 925-5585
nick_schacht@learningtree.com
You can also request an investor information packet here »
President and CEO
Learning Tree International
Phone: (703) 925-5585
nick_schacht@learningtree.com
You can also request an investor information packet here »