Learning Tree International Inc. (LTRE, Financial) filed Quarterly Report for the period ended 2012-06-29.
Learning Tree International, Inc. has a market cap of $63.5 million; its shares were traded at around $5 with a P/E ratio of 31.3 and P/S ratio of 0.5. Learning Tree International, Inc. had an annual average earning growth of 6.1% over the past 5 years.
During our third quarter of fiscal year 2012, we presented 1,671 events, a 4.4% increase from 1,601 events during the same period in fiscal year 2011. Our cost of revenues for our third quarter of fiscal year 2012 was $15.6 million, or 47.3% of revenues, compared to $15.9 million, or 47.6% of revenues, in the same period in fiscal year 2011. Accordingly, our gross profit percentage for the third quarter of fiscal year 2012 was 52.7% compared to 52.4% in the same period of the prior fiscal year.
During the first nine months of fiscal year 2012, we presented 4,845 events, a 5.3% increase from 4,599 events during the same period in fiscal year 2011. Our cost of revenues for the first nine months of fiscal year 2012 was $45.8 million, or 47.3% of revenues, compared to $46.5 million, or 46.8% of revenues, in the same period in fiscal year 2011. Accordingly, our gross profit percentage for the first nine months of fiscal year 2012 was 52.7% compared to 53.2% in the same period of the prior fiscal year.
Sales and marketing expense during the first nine months of fiscal year 2012 was $25.6 million, an increase of $2.1 million compared to $23.5 million in the same period of fiscal year 2011. The net increase was due primarily to increases in direct marketing and sales force expenditures of $2.6 million offset by a decrease in severance expense of $0.3 million and professional service fees of $0.2 million.
General and Administrative Expenses. General and administrative expense in our third quarter of fiscal year 2012 was 23.2% of revenues, compared with 20.6% for the same quarter in fiscal year 2011. General and administrative expense during our third quarter of fiscal year 2012 was $7.7 million, an increase of $0.8 million compared to $6.9 million in our third quarter of fiscal year 2011. The net increase was due primarily to an increase in severance expense of $1.0 million offset by decreases in legal fees of $0.2 million.
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Learning Tree International, Inc. has a market cap of $63.5 million; its shares were traded at around $5 with a P/E ratio of 31.3 and P/S ratio of 0.5. Learning Tree International, Inc. had an annual average earning growth of 6.1% over the past 5 years.
Highlight of Business Operations:
Revenues. Our revenues of $33.0 million in our third quarter of fiscal year 2012 were 1.2% lower than revenues of $33.5 million in the same quarter of fiscal year 2011. The decrease in revenues primarily resulted from a 2.2% reduction in average revenue per participant that was partially offset by a 0.9% increase in the number of course participants. The decrease in average revenue per participant compared to the same quarter of our prior year was the cumulative result of several smaller factors including: a 2.8% adverse effect of changes in foreign exchange rates, an experimental program of promotional pricing for new customers in one of our operating units, a favorable shift in mix between higher priced courses at our education centers and courses delivered onsite at client locations and shorter duration for courses delivered at client sites.During our third quarter of fiscal year 2012, we presented 1,671 events, a 4.4% increase from 1,601 events during the same period in fiscal year 2011. Our cost of revenues for our third quarter of fiscal year 2012 was $15.6 million, or 47.3% of revenues, compared to $15.9 million, or 47.6% of revenues, in the same period in fiscal year 2011. Accordingly, our gross profit percentage for the third quarter of fiscal year 2012 was 52.7% compared to 52.4% in the same period of the prior fiscal year.
During the first nine months of fiscal year 2012, we presented 4,845 events, a 5.3% increase from 4,599 events during the same period in fiscal year 2011. Our cost of revenues for the first nine months of fiscal year 2012 was $45.8 million, or 47.3% of revenues, compared to $46.5 million, or 46.8% of revenues, in the same period in fiscal year 2011. Accordingly, our gross profit percentage for the first nine months of fiscal year 2012 was 52.7% compared to 53.2% in the same period of the prior fiscal year.
Sales and marketing expense during the first nine months of fiscal year 2012 was $25.6 million, an increase of $2.1 million compared to $23.5 million in the same period of fiscal year 2011. The net increase was due primarily to increases in direct marketing and sales force expenditures of $2.6 million offset by a decrease in severance expense of $0.3 million and professional service fees of $0.2 million.
General and Administrative Expenses. General and administrative expense in our third quarter of fiscal year 2012 was 23.2% of revenues, compared with 20.6% for the same quarter in fiscal year 2011. General and administrative expense during our third quarter of fiscal year 2012 was $7.7 million, an increase of $0.8 million compared to $6.9 million in our third quarter of fiscal year 2011. The net increase was due primarily to an increase in severance expense of $1.0 million offset by decreases in legal fees of $0.2 million.
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