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Learning Tree International Inc. posted lower sales and profits in its latest quarter, citing the economic slowdown.
Reston-based Learning Tree (NASDAQ: LTRE), which offers testing and certification for information technology professionals along with educational and training courses, reported net income of $2.1 million, or 15 cents per share, in the third quarter of fiscal 2009 which ended July 3, 2009 compared with net income of $3.8 million, or 23 cents per share, for the third quarter of fiscal 2008.
Revenue for the quarter was $32.3 million, a 31% decrease from the same quarter of the prior fiscal year. Revenue has declined 26 percent in the first nine months of the fiscal year to $100.8 million.
Learning Tree International provides education and training to managers and information technology professionals in business and government organizations. Learning Tree also tests and certifies information technology and business professionals, and Learning Tree courses are recommended for college credit by the American Council on Education.