Learning Tree Announces Third Quarter Fiscal Year 2009 Results

Learning Tree International, Inc. (NASDAQ:LTRE) announced today its revenues and results of operations for its third quarter and first nine months of fiscal year 2009, which ended July 3, 2009. Revenues for the quarter ended July 3, 2009 were $32.3 million, a 31% decrease from the same quarter of the prior fiscal year. Learning Tree reported income from operations for the quarter of $3.2 million, compared to income from operations of $5.4 million for the same quarter of fiscal 2008. Net income for the third quarter of fiscal 2009 was $2.1 million, compared with net income of $3.8 million for the third quarter of fiscal 2008. Earnings per share for the third quarter of fiscal 2009 were $0.15, compared with earnings per share of $0.23 for the same quarter of fiscal 2008.

Revenues for the first nine months of Learning Tree’s fiscal year 2009 were $100.8 million, a decrease of 26% compared with $137.1 million for the first nine months of fiscal year 2008. Income from operations for the first nine months of fiscal year 2009 was $3.4 million, compared with $14.5 million for the same period of fiscal 2008. Net income for the first nine months of fiscal 2009 was $2.6 million, compared to net income of $11.0 million for the same period in fiscal year 2008. Earnings per share for the first nine months of fiscal year 2009 were $0.17, compared to $0.67 for the same period of fiscal 2008.

“Our gross profit and income from operations in our third quarter reflect significant benefits from the profitability improvements and cost savings we have implemented during these challenging economic times,” commented Learning Tree President and CEO Nicholas R. Schacht. “We believe that we have adjusted our business appropriately for current economic conditions, and we look forward to building on our strong financial base and market position to capitalize on opportunities as they arise.”

Learning Tree International is a leading worldwide provider of vendor-independent education and training to managers and IT professionals 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 those in this release, 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 exhibit carefully. Some of the factors discussed in Item 1A 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.

Webcast

An investor conference call to discuss third quarter results is scheduled at 4:30 pm EDT August 11, 2009. Interested parties are invited to listen to the conference call by accessing the webcast live on Learning Tree’s website www.learningtree.com/investor. The webcast will also be available at www.learningtree.com/investor for replay.