Tuesday, Learning Tree International Inc. (LTRE) reported a slip to loss in the second-quarter, hurt by a 22% decline in revenues.
The Reston, Virginia-based company reported a second-quarter net loss of $1.36 million or $0.09 per share, compared to a net profit of $1.33 million or $0.08 per share in the corresponding quarter last year.
Revenues for the quarter declined to $30.53 million from $39.24 million in the similar period last year.
Total operating expenses for the first-quarter of fiscal 2009 declined to $18.59 million from $20.84 million in the prior-year's quarter.
Loss from operations for the quarter was $2.46 million, compared to an income from operations of $0.69 million in the first-quarter of fiscal 2008.
The company had an income tax benefit of $0.76 million, compared to a provision for income tax of $0.87 million in the comparable period of fiscal 2008.
For the six-month period, net income declined to $0.48 million or $0.03 per share from $7.23 million or $0.44 per share in the six-month period of previous year.
Revenues for the half-year period declined 24% to $68.49 million from $90.13 million in the previous year's corresponding quarter.
Learning Tree International closed Tuesday's regular trading at $9.00, up $0.20 or 2.27%, on a volume of 34,896 shares on the Nasdaq.
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