Learning Tree higher on Q2 profit
Shares of Learning Tree International, Inc. (Nasdaq: LTRE) are higher following news after Wednesday’s close that the provider of hands-on training swung to a fiscal second-quarter profit and beat Wall Street’s projections.
The Reston, Va.-based company posted net income for the quarter ended March 30 of $1.1 million, or $0.07 per share, above one analyst’s projected earnings of $0.06 per share, according to Thomson Financial. Leaning Tree had a net loss of $2.0 million, or $0.12 per share a year earlier.
Revenues increased 10% to $37.6 million, in line with projected revenues of $37.5 million. Sales came to $34.18 million during the same quarter of 2006.
“The significant growth in our operating income for our second quarter reflects our ongoing programs to improve our profitability by increasing the efficiency of our operations,” said Nicholas Schacht, CEO and president.
At 12:47 p.m. ET shares had added $0.99, or 7%, to $14.99. That’s close to the 52-week high of $15.14, which was reached on August 7. The 52-week low of $7.29 was set on Aug. 30, 2006.
