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Non-Tech : Learning Tree International (LTRE) Leader in IT Training -- Ignore unavailable to you. Want to Upgrade?

To: Esa who wrote (8)	11/21/1998 12:37:00 AM
From: Esa	Read Replies (1) \| Respond to of 11

Learning Tree Announces Fourth Quarter Results LOS ANGELES--(BUSINESS WIRE)--Nov. 19, 1998--Learning Tree International, Inc. (Nasdaq/NM:LTRE - news) today announced the results of its fourth quarter and fiscal year ended September 30, 1998. Revenues for the quarter ended September 30, 1998 were $49.0 million compared to $48.8 million for the same quarter of the prior year. Income from operations for the fourth quarter increased to $5.1 million from $0.8 million for the same quarter of the prior year. Net income for the fourth quarter was $3.9 million compared with $1.2 million for the same quarter of the prior year. Net income per share for the fourth quarter was $0.18 compared with $0.06 for the same quarter of the prior year. Revenues for the fiscal year ended September 30, 1998, increased 14% to $187.2 million from $164.5 million for the fiscal year ended September 30, 1997. Income from operations for the fiscal year ended September 30, 1998 was $13.3 million compared with $12.5 million for the prior year. Net income for the fiscal year ended September 30, 1998 was $10.5 million compared to $10.5 million for the prior year. Net income per share for the fiscal year ended September 30, 1998 was $0.48 compared to $0.47 for the prior year. ''Our consolidated revenues for the fourth quarter were essentially unchanged from the fourth quarter of fiscal 1997. This reflects an increase in revenues from our traditional base business, which offset both a reduction in revenues under our Learning Solutions Division contract with General Motors, and also the elimination of revenues from our terminated Power Seminars product line,'' commented Dr. David Collins, Chairman and CEO of Learning Tree. ''We are pleased with the improvement in our net income for the fourth quarter,'' continued Collins. ''This reflects on-going cost control measures taken by management, as well as the termination in November 1997 of our Power Seminars Division, which adversely affected fiscal 1997's fourth quarter profits. As a percentage of revenues, gross profit for the fourth quarter of fiscal 1998 increased to 57.8% from 54.6%, while operating expenses declined to 47.4% from 53.0%.''