Learning Tree International, Inc. announced unaudited consolidated earnings results for the first quarter ended December 29, 2017. For the quarter, the company reported revenues of $17,196,000 against $18,552,000 a year ago. Income from operations was $319,000 against loss of $504,000 a year ago. Income from operations before income taxes was $292,000 against loss of $303,000 a year ago. Net income was $355,000 against loss of $379,000 a year ago. Basic and diluted income per share was $0.03 against LPS of $0.03 a year ago. The decrease in revenues were principally resulted from an 8.9% decrease in the average revenue per participant, partially offset by a 1.8% increase in the number of participants when compared to the first quarter of fiscal 2017. The company reported positive cash flow from operations for the three months ended December 29, 2017.

For the second quarter of fiscal 2018, the company currently expect revenues of between $14.2 million and $15.2 million, compared to revenues of $16.1 million in the second quarter of fiscal 2017. The company expects the gross profit percentage in the second quarter of fiscal 2018 are between 40.3% and 41.3% compared to 40.1% in the second quarter of fiscal 2017. The company expects second quarter operating loss of between $1 million and $2 million compared with an operating loss of $2.1 million in the second quarter of fiscal 2017, which also includes the $0.4 million restructuring charge. Overall, for the second quarter of fiscal 2018, the company expects to report a pre-tax results loss of between $1 million and $2.1 million compared to a pretax loss of $2.2 million in the second quarter of fiscal 2017.

For the full fiscal year 2018, it is the objective for the company to continue to improve profitability and achieve a positive income from operations. While achieving profitability is one objective, it is companies objective to return this company to growth in which revenues when compared to quarter's performance to the same quarter the previous year is once again growing. The company is not currently projecting such revenue growth for fiscal year 2018, but continue to strive to position the company to achieve this revenue growth.