Learning Tree International, Inc. (OTCMKTS:LTRE)
Learning Tree International, Inc. (OTCMKTS:LTRE) was established in 1974. The company specializes in IT and management training, on a global scale, to businesses and governments. Learning Tree can count over 2.4 million professionals among its participants. Their more popular course offerings include data and security, computer networking, application operating systems, and development, and business management. Today the company released their Q2 2017 financial results.
For Q2 2017, Learning Tree International, Inc. (OTCMKTS:LTRE) posted reported revenues of $16.1 million – down from Q2 2016 when the company reported $18.7 million. Operational loss was (-$2.1) million compared to (-$5.2) million in Q2 2016. The company had a net loss of (-$2.3) million, or (-$0.18) per share compared to Q2 2016’s figures of (-$5.4) million or (-$0.41) per share.
The 14.0% decline in revenues for Learning Tree International, Inc. (OTCMKTS:LTRE) Q2 2017 was offset by a lower cost of revenues figure of 23.9% which resulted in an increase in gross profits of 6.8% from last quarter. Total operating expenses excluding the restructuring charge decreased 27.9% quarter over quarter, from $11.3 million to $8.1 million.
The liquidity and working capital needs for Learning Tree International, Inc. (OTCMKTS:LTRE were usually funded through their cash and cash equivalents. For Q2 2017, Learning Tree’s capital resources consisted of cash and cash equivalents of $5.3 million. They have the ability to access a financing and security agreement that has been put in place with Action Capital Corporation that provides the company with the ability to borrow a maximum aggregate amount of $3.0 million. However, the company notes, they have not had to avail themselves to the funds.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance