RESTON, Va., Feb 09, 2010 (BUSINESS WIRE) --
Learning Tree International, Inc.
(LTRE
11.77,
-0.27,
-2.24%)
announced today its
revenues and results of operations for its first quarter of fiscal year
2010, which ended January 1, 2010. Revenues for the quarter ended
January 1, 2010 were $32.5 million, a 14% decrease from the same quarter
of the prior fiscal year. Learning Tree reported income from operations
for the quarter of $3.9 million, compared to income from operations of
$2.7 million for the same quarter of fiscal 2009. Net income for the
first quarter of fiscal 2010 was $2.4 million, compared with net income
of $1.8 million for the first quarter of fiscal 2009. Earnings per share
for the first quarter of fiscal 2010 were $0.18, compared with earnings
per share of $0.11 for the same quarter of fiscal 2009.
"Our performance in our first quarter reflects significant benefits from
profitability improvements and cost savings we have made during these
challenging economic times," commented Learning Tree President and CEO
Nicholas R. Schacht. "We are pleased that these changes have resulted in
increased profitability compared to a year earlier, and we look forward
to being able to build on our strong financial base and market position
to capitalize on opportunities as they arise."
Mr. Schacht also commented on the continued roll-out of the Learning
Tree AnyWare(TM) e-Learning platform: "We are pleased by our customers'
enthusiastic response to the introduction of AnyWare, which allows
individuals located anywhere in the world to use an ordinary Internet
connection to attend a live instructor-led class being conducted in a
Learning Tree Education Center or at a customer location. Remote
participants have real-time video of their instructor, their classmates
and their instructor's annotations. They participate fully in
discussions, ask questions, collaborate in breakout sessions and
complete the same hands-on exercises (with the same personal assistance
from the instructor) as their classroom-based counterparts. Because of
this complete involvement, AnyWare participants achieve the same level
of knowledge and skill transfer as our in-class participants."
Learning Tree International is a leading worldwide provider of
vendor-independent education and training to managers and IT
professionals 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 1-800-THE-TREE (1-800-843-8733), or
visit the Learning Tree Web site at www.learningtree.com.
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 this
release, 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 Item 1A, "Risk Factors" in Learning Tree's Annual Report on Form 10-K
("Item 1A"). Please read that exhibit carefully. Some of the factors
discussed in Item 1A 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 February 9, 2010. Interested parties are
invited to listen to the conference call by accessing the webcast live
on Learning Tree's website www.learningtree.com/investor.
The webcast will also be available at www.learningtree.com/investor
for replay.
