Led by strong demand for its online training program, Learning Tree International (NASDAQ:LTRE) surged more than 4% after hours after reporting late Thursday a fourth-quarter profit over a year ago loss.
The Reston, Va-based company posted net income of $1.2 million, or 8 cents a share, compared with a loss of $1.4 million, or 10 cents a share, in the same quarter last year.
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Excluding one-time items, particularly a $4.2 million charge related to the anticipated settlement of a contract dispute, the company would have earned 14 cents a share, ahead of average analyst estimates polled by Thomson Reuters of 8 cents.
Revenue for Learning Tree, which provides training to managers and information technology professional, was $33.9 million, up from $31.8 million a year ago, narrowly beating the Street’s view of $33.25 million.
Learning Tree CEO Nicholas R. Schacht attributed results for the three-month period ended Oct. 1 to the company’s sales growth initiatives, a move he said has so far reflected positively on its balance sheet.
Earnings were cushioned by strong sales of Learning Tree AnyWare, its patent-pending live online training platform, which had more than 4,000 users in fiscal 2010.
“We are pleased that our efforts to maintain profitability in this challenging environment have continued to produce positive results,” he said.