Learning Tree Announces Record Second Quarter Revenues
LOS ANGELES--(BUSINESS WIRE)--May 12, 1998--Learning Tree International, Inc. (NASDAQ NM:LTRE - news)
today announced record second quarter revenues for the quarter which ended March 31, 1998.
Revenues for the quarter ended March 31, 1998, increased 26% to a second quarter record of $45.0 million from $35.8
million for the same quarter of the prior year. Income from operations for the quarter was $2.5 million versus $2.4 million for
the same quarter for the prior year. Net income for the second quarter was $2.1 million unchanged from $2.1 million for the
same quarter for the prior year. Net income per share for the second quarter was $0.10 also unchanged from $0.10 for the
same quarter for the prior year.
For the six-month period ended March 31, 1998, revenues increased 26% to $90.2 million from $71.8 million for the six
months ended March 31, 1997. Income from operations for the six months ended March 31, 1998 was $3.9 million versus
$8.0 million for the corresponding period of the prior year. Net income for the six months ended March 31, 1998 was $3.4
million versus $6.2 million for the corresponding period of the prior year. Net income per share for the six months ended March
31, 1998 was $0.15 compared to $0.28 for the corresponding period of the prior year.
''We have achieved solid revenue growth in the second quarter of fiscal 1998,'' stated Dr. David C. Collins, Chairman and
CEO. ''Our growth reflects increased revenues from our traditional 4- and 5-day instructor-led courses, sales of our
multimedia CBT courses, and revenues generated by our Learning Solutions Division for the delivery of a custom training
program for General Motors. We are continuing our focus on improving operating and net income through a combination of
revenue growth and cost containment.''
Learning Tree International is a leading worldwide provider of education and training for information technology (''IT'')
professionals working in business and government organizations. The Company develops, markets and delivers a broad,
proprietary library of instructor-led and CBT course titles focused on client/server systems, Internet/intranet technologies, wide
and local area networks, operating systems, programming languages, database systems, graphical user interfaces,
object-oriented technology and IT management. The Company also tests and certifies IT professionals, and the American
Council on Education recommends its courses for college credit. |
