Learning Tree Announces First Quarter 2008 Results

Business Wire, Feb 6, 2008

RESTON, Va. -- Learning Tree International, Inc. (NASDAQ:LTRE) announced today its revenues and results of operations for its first quarter of fiscal year 2008, ended December 28, 2007. Revenues for the quarter ended December 28, 2007 were $50.9 million, a 19% increase from $42.7 million in the same quarter of the prior year. The Company reported income from operations for the quarter of $8.5 million compared with income from operations of $6.1 million for the same quarter of the prior year. Net income for the first quarter of fiscal 2008 was $5.9 million, compared with net income of $4.3 million for the first quarter of fiscal 2007. Earnings per share (diluted) for the first quarter of fiscal 2008 were $0.35, compared with $0.26 for the same quarter of the prior year.

"During this quarter, we again improved both our revenues and our profitability, largely by increasing the number of attendees in both our management courses and our IT courses," commented Learning Tree President and CEO Nicholas R. Schacht. "Our principal focus this year is the achievement of sustainable revenue growth while continuing to derive additional gains from the profitability initiatives we implemented over the past two years."

Learning Tree International is a leading worldwide provider of vendor-independent education and training to IT professionals and managers 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 any forward-looking statements, 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 section carefully. Some of the factors 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.

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Webcast

An investor conference call to discuss first quarter results is scheduled at 4:30 pm EST February 6, 2008. Interested parties are invited to listen to the conference call by accessing the webcast live on Learning Tree's website www.learningtree.com. The webcast will also be available at www.learningtree.com for replay.