Learning Tree Discontinues Solicitation Process
Learning Tree — Tuesday, October 14, 2008RESTON, Va.--(via BUSINESS WIRE)--Learning Tree International, Inc. (NASDAQ:LTRE) today announced that, in light of current conditions in the financial markets, the special committee of its independent directors has determined to discontinue the previously announced process to solicit offers to purchase the company.
"Regardless of temporary market conditions, we remain focused on maximizing shareholder value, building on the significant improvements in profitability and revenue we achieved over the past two years," commented Nick Schacht, Learning Tree’s Chief Executive Officer. "Our current strong financial position—with over $65 million in cash and cash equivalents (not counting an additional $26 million in available for sale securities) at the end of our third fiscal quarter—gives us the financial flexibility to do what we do best: provide our customers the best IT and management training available in the market."
ABOUT LEARNING TREE INTERNATIONAL, INC.
Learning Tree International is a leading worldwide provider of vendor-independent education and training to IT professionals and managers 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