Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Jun. 27, 2014 | Aug. 01, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'LEARNING TREE INTERNATIONAL, INC. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--10-03 | ' |
Entity Common Stock, Shares Outstanding | ' | 13,222,539 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001002037 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 27-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Jun. 27, 2014 | Sep. 27, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $21,591 | $26,583 |
Trade accounts receivable, net | 16,204 | 14,057 |
Income tax receivable | 715 | 921 |
Prepaid expenses | 3,557 | 3,383 |
Other current assets | 2,038 | 1,848 |
Assets held for sale | 3,582 | 0 |
Total current assets | 47,687 | 46,792 |
Equipment, Property and Leasehold Improvements: | ' | ' |
Education and office equipment | 39,562 | 38,586 |
Transportation equipment | 203 | 200 |
Property and leasehold improvements | 21,730 | 28,002 |
61,495 | 66,788 | |
Less: accumulated depreciation and amortization | -51,313 | -50,090 |
10,182 | 16,698 | |
Restricted interest-bearing investments | 3,602 | 4,175 |
Deferred income taxes | 431 | 466 |
Other assets | 782 | 831 |
Total assets | 62,684 | 68,962 |
Current Liabilities: | ' | ' |
Trade accounts payable | 8,457 | 7,309 |
Deferred revenues | 28,384 | 29,780 |
Accrued payroll, benefits and related taxes | 4,657 | 4,167 |
Other accrued liabilities | 2,016 | 2,178 |
Current portion of deferred facilities rent and other | 1,703 | 1,663 |
Total current liabilities | 45,217 | 45,097 |
Asset retirement obligations | 1,967 | 2,004 |
Deferred income taxes | 272 | 284 |
Deferred facilities rent and other | 4,137 | 4,760 |
Noncurrent tax liabilities | 1,442 | 1,156 |
Total liabilities | 53,035 | 53,301 |
STOCKHOLDERS' EQUITY | ' | ' |
Preferred stock, $.0001 par value; 1,000,000 shares authorized; 0 shares issued and outstanding | 0 | 0 |
Common Stock, $.0001 par value; 75,000,000 shares authorized; 13,222,539 and 13,217,484 issued and outstanding, respectively | 1 | 1 |
Additional paid-in capital | 6,134 | 5,825 |
Accumulated comprehensive income (loss) | 162 | -139 |
Retained earnings | 3,352 | 9,974 |
Total stockholders' equity | 9,649 | 15,661 |
Total liabilities and stockholders' equity | $62,684 | $68,962 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Jun. 27, 2014 | Sep. 27, 2013 |
Preferred stock par value (in Dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 13,222,539 | 13,217,484 |
Common stock, shares outstanding | 13,222,539 | 13,217,484 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 27, 2014 | Jun. 28, 2013 | Jun. 27, 2014 | Jun. 28, 2013 |
Revenues | $28,759 | $28,958 | $85,785 | $89,181 |
Cost of revenues | 16,132 | 16,141 | 49,191 | 47,421 |
Gross profit | 12,627 | 12,817 | 36,594 | 41,760 |
Operating expenses: | ' | ' | ' | ' |
Course development | 1,950 | 1,998 | 5,726 | 6,029 |
Sales and marketing | 6,283 | 6,764 | 18,634 | 21,881 |
General and administrative | 7,086 | 5,043 | 18,290 | 20,037 |
15,319 | 13,805 | 42,650 | 47,947 | |
Loss from operations | -2,692 | -988 | -6,056 | -6,187 |
Other income (expense): | ' | ' | ' | ' |
Interest income, net | 1 | 11 | 29 | 32 |
Foreign exchange gains (losses) | 24 | 12 | -90 | 172 |
Other, net | -3 | 9 | 0 | 15 |
22 | 32 | -61 | 219 | |
Loss before provision for income taxes | -2,670 | -956 | -6,117 | -5,968 |
Provision for income taxes | 76 | 123 | 503 | 542 |
Net loss | -2,746 | -1,079 | -6,620 | -6,510 |
Foreign currency translation adjustments | 96 | -95 | 301 | -901 |
Comprehensive loss | ($2,650) | ($1,174) | ($6,319) | ($7,411) |
Loss per share: | ' | ' | ' | ' |
Loss per common share - basic (in Dollars per share) | ($0.21) | ($0.08) | ($0.50) | ($0.49) |
Loss per common share - diluted (in Dollars per share) | ($0.21) | ($0.08) | ($0.50) | ($0.49) |
Weighted average shares outstanding: | ' | ' | ' | ' |
Weighted average shares - basic (in Shares) | 13,223 | 13,217 | 13,221 | 13,208 |
Weighted average shares - diluted (in Shares) | 13,223 | 13,217 | 13,221 | 13,208 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Jun. 27, 2014 | Jun. 28, 2013 |
Cash flows - operating activities | ' | ' |
Net loss | ($6,620) | ($6,510) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 4,343 | 4,617 |
Stock-based compensation | 309 | 107 |
Deferred income taxes | 428 | 256 |
Provision for doubtful accounts | 19 | 123 |
Accretion on asset retirement obligations | 72 | 77 |
(Gains) losses on disposal of equipment and leasehold improvements | -12 | 53 |
Unrealized foreign exchange gains | -225 | -270 |
Gain on lease termination | 0 | -132 |
Settlement of asset retirement obligations | -186 | 0 |
Changes in operating assets and liabilities: | ' | ' |
Trade accounts receivable | -2,051 | 2,496 |
Asset retirement obligations | 0 | -2,962 |
Prepaid expenses and other assets | 516 | 5,562 |
Income tax receivable / payable | 55 | 1,402 |
Trade accounts payable | 1,100 | -1,734 |
Deferred revenues | -1,600 | -1,759 |
Deferred facilities rent and other | -906 | -1,215 |
Other accrued liabilities | 765 | -1,938 |
Net cash used in operating activities | -3,993 | -1,827 |
Cash flows - investing activities: | ' | ' |
Sales of available for sale securities | 0 | 6,118 |
Purchases of equipment, property and leasehold improvements | -1,244 | -2,099 |
Proceeds from sale of equipment, property and leasehold improvements | 29 | 13 |
Net cash (used in) provided by investing activities | -1,215 | 4,032 |
Cash flows - financing activities: | ' | ' |
Dividends paid | 0 | -26 |
Shares surrendered in lieu of tax withholding | -2 | -20 |
Net cash used in financing activities | -2 | -46 |
Effects of exchange rate changes on cash and cash equivalents | 218 | -872 |
Net (decrease) increase in cash and cash equivalents | -4,992 | 1,287 |
Cash and cash equivalents at beginning of period | 26,583 | 25,784 |
Cash and cash equivalents at end of period | $21,591 | $27,071 |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Jun. 27, 2014 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
NOTE 1—BASIS OF PRESENTATION | |
The accompanying unaudited condensed consolidated financial statements of Learning Tree International, Inc. and our subsidiaries (collectively, “Learning Tree,” “we,” “our” or “us”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and, therefore, omit or condense certain note disclosures and other information required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended September 27, 2013. | |
We use the 52/53-week fiscal year method to better align our external financial reporting with the manner in which we operate our business. Under this method, each fiscal quarter ends on the Friday closest to the end of the calendar quarter. Accordingly, our third quarter of the current fiscal year ended on June 27, 2014 and encompassed 13 weeks, while our third quarter of the prior fiscal year ended on June 28, 2013 and also encompassed 13 weeks. | |
In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments that are only of a normal recurring nature, considered necessary to present fairly our financial position as of June 27, 2014, and our results of operations for the three and nine months ended June 27, 2014 and June 28, 2013, and our cash flows for the nine months ended June 27, 2014 and June 28, 2013. Certain items in the condensed consolidated financial statements have been reclassified to conform to the current presentation. |
Note_2_StockBased_Compensation
Note 2 - Stock-Based Compensation | 9 Months Ended |
Jun. 27, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
NOTE 2—STOCK-BASED COMPENSATION | |
Stock-based compensation expense of $0.2 million and $0.3 million which related to grants of employee stock options and restricted stock units was included in operating expenses for the three and nine months ended June 27, 2014, respectively, and was charged in a manner consistent with the related employee salary costs. This compares to a credit of $34,000 and $0.1 million of stock-based compensation expense for grants of restricted stock units for the three and nine months ended June 28, 2013, respectively. |
Note_3_Asset_Retirement_Obliga
Note 3 - Asset Retirement Obligations | 9 Months Ended | ||||||||
Jun. 27, 2014 | |||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ||||||||
Asset Retirement Obligation Disclosure [Text Block] | ' | ||||||||
NOTE 3—ASSET RETIREMENT OBLIGATIONS | |||||||||
The following table presents the activity for the asset retirement obligations (“ARO”) liabilities, which are primarily related to the restoration of classroom facilities in our Learning Tree Education Centers: | |||||||||
Nine months ended | Year ended | ||||||||
27-Jun-14 | 27-Sep-13 | ||||||||
ARO balance, beginning of period | $ | 2,004 | $ | 3,907 | |||||
Liabilities incurred | 0 | 1,022 | |||||||
Accretion expense | 72 | 99 | |||||||
Liabilities satisfied | 0 | (29 | ) | ||||||
Settlement of ARO liability | (186 | ) | (2,929 | ) | |||||
Foreign currency translation | 77 | (66 | ) | ||||||
ARO balance, end of period | $ | 1,967 | $ | 2,004 | |||||
Note_4_Earnings_Loss_Per_Share
Note 4 - Earnings (Loss) Per Share | 9 Months Ended | ||||||||||||||||
Jun. 27, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
NOTE 4—LOSS PER SHARE | |||||||||||||||||
Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding (which excludes unvested shares of our common stock granted under our 2007 Equity Incentive Plan) during the reporting period. Diluted loss per share is computed similarly to basic loss per share except that the weighted average shares outstanding are increased to include common stock equivalents, to the extent their effect is dilutive. Approximately 200,000 stock options and 3,700 restricted stock units were excluded from the computations of diluted loss per share for the three and nine months ended June 27, 2014, because their effect would have been anti-dilutive. Approximately 9,400 restricted stock units were excluded from the computations of diluted loss per share for the three and nine months ended June 28, 2013, because their effect would have been anti-dilutive. The computations for basic and diluted loss per share are as follows: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
27-Jun-14 | 28-Jun-13 | 27-Jun-14 | 28-Jun-13 | ||||||||||||||
Numerator: | |||||||||||||||||
Net loss | $ | (2,746 | ) | $ | (1,079 | ) | $ | (6,620 | ) | $ | (6,510 | ) | |||||
Denominator: | |||||||||||||||||
Weighted average shares outstanding | |||||||||||||||||
Basic | 13,223 | 13,217 | 13,221 | 13,208 | |||||||||||||
Effect of dilutive securities | 0 | 0 | 0 | 0 | |||||||||||||
Diluted | $ | 13,223 | $ | 13,217 | $ | 13,221 | $ | 13,208 | |||||||||
Loss per common share - basic | $ | (0.21 | ) | $ | (0.08 | ) | $ | (0.50 | ) | $ | (0.49 | ) | |||||
Loss per common share - diluted | $ | (0.21 | ) | $ | (0.08 | ) | $ | (0.50 | ) | $ | (0.49 | ) | |||||
Note_5_Income_Taxes
Note 5 - Income Taxes | 9 Months Ended |
Jun. 27, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
NOTE 5—INCOME TAXES | |
Our income tax provision in our third quarter of fiscal year 2014 was $0.1 million. Our income tax provision for our first nine months of fiscal year 2014 was $0.5 million. Our third quarter 2014 provision of $0.1 million was primarily composed of income tax expense for our foreign subsidiaries. We established a valuation allowance against deferred tax assets in the U.S. and France in our third quarter of fiscal year 2012 and have continued to maintain a full valuation allowance in both through fiscal years 2013 and 2014. |
Note_6_Commitments_And_Conting
Note 6 - Commitments And Contingencies | 9 Months Ended |
Jun. 27, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
NOTE 6—COMMITMENTS AND CONTINGENCIES | |
Commitments | |
On May 7, 2014, Learning Tree International Inc. a Canadian corporation and a wholly owned subsidiary of the Company, entered into a second amendment of an existing lease and storage agreement with 160 Elgin Leaseholds Inc. covering a leased property located in Ottawa, Ontario, Canada. This lease amendment reduces the rentable area and extends the term of the lease for a period of five years commencing July 1, 2014 and expiring June 30, 2019. | |
Effective June 17, 2014, the Company’s Swedish subsidiary, Learning Tree International AB, entered into an agreement with Forvaltningsbolaget Marievik HB (the “Landlord”) whereby Learning Tree International AB agreed to the Landlord’s request to terminate the Rental Lease between Learning Tree International AB and the Landlord (the “Prior Lease Agreement”) as of December 31, 2014 in exchange for the Landlord’s assistance in obtaining a lease for a comparable commercial facility for our Education Center and General Offices in Stockholm, Sweden. In connection with this termination of the Prior Lease Agreement, the Landlord agreed to pay SEK 3.74 million (or approximately US $600,000 at then current exchange rates), of which SEK 1.0 million (or approximately US $150,000 at then current exchange rates) has been paid in advance, to Learning Tree International AB, with the remaining amounts to be paid toward the cost of building renovations and toward the cost of moving to the new facility. The Landlord also agreed to pay the cost up to SEK 0.20 million (or approximately US $30,000 at then current exchange rates) for an architect for the new facility. In addition, the Landlord will provide funding such that the new facility will have the same standards and functionality as Learning Tree International AB’s current facility. In the event that the move to the new facility is delayed, the Landlord will extend Learning Tree International AB’s lease for its existing facility until February 28, 2015. | |
Effective June 17, 2014, Learning Tree International AB signed a new lease agreement (the “New Lease”) for 1060 square meters of space with Vasakronan (the “New Landlord”) located at Stockholm Lindhagensgatan 126. A summary of the material terms of the New Lease are as follows: | |
● Term: January 1, 2015 to December 31, 2019. | |
● Basic rent: SEK 2.65 million per year (or approximately US $400,000 per year at then current exchange rates) | |
● Basic Supplemental rent: SEK 0.49 million per year (or approximately US $75,000 per year at then current exchange rates) | |
● Security Deposit: SEK 1.5 million (or approximately US $200,000 at then current exchange rates) | |
Contingencies | |
Currently, and from time to time, we are involved in litigation incidental to the conduct of our business. We are not a party to any lawsuit or legal proceeding that, in the opinion of management, is likely to have a material adverse effect on our consolidated financial position or results of operations. |
Note_7_Segment_Reporting
Note 7 - Segment Reporting | 9 Months Ended | ||||||||||||||||
Jun. 27, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 7—SEGMENT REPORTING | |||||||||||||||||
Our worldwide operations involve the design and delivery of instructor-led classroom training courses and related services to multinational companies and government entities. The training and education we offer is presented in an identical manner in every country in which we operate. Our instructors present our courses in a virtually identical fashion worldwide, regardless of whether presented in leased classroom space or external facilities, the content of the class being taught or the location or method of distribution. No one commercial customer or government agency accounted for 10% or more of our revenues in either our first nine months of fiscal year 2014 or our first nine months of fiscal year 2013. | |||||||||||||||||
We conduct and manage our business globally and have reportable segments that operate in six countries: the United States, Canada, the United Kingdom, France, Sweden and Japan. During fiscal year 2013, we restructured the management of our U.S. and Canadian operations into one North American operation. With this change, we began reviewing operations in the U.S. and Canada on a combined basis. | |||||||||||||||||
Summarized financial information by country for our third quarter and for the first nine months of fiscal years 2014 and 2013 is as follows: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
June 27, | June 28, | June 27, | June 28, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenues: | |||||||||||||||||
United States | $ | 14,925 | $ | 14,634 | $ | 40,329 | $ | 41,937 | |||||||||
Canada | 2,047 | 2,531 | 8,824 | 10,320 | |||||||||||||
North America | 16,972 | 17,165 | 49,153 | 52,257 | |||||||||||||
United Kingdom | 6,872 | 6,570 | 21,205 | 21,081 | |||||||||||||
France | 3,041 | 3,265 | 8,773 | 9,156 | |||||||||||||
Sweden | 1,391 | 1,446 | 5,187 | 5,265 | |||||||||||||
Japan | 483 | 512 | 1,467 | 1,422 | |||||||||||||
Total | $ | 28,759 | $ | 28,958 | $ | 85,785 | $ | 89,181 | |||||||||
Gross profit: | |||||||||||||||||
United States | $ | 5,948 | $ | 5,781 | $ | 13,818 | $ | 16,935 | |||||||||
Canada | 1,090 | 1,349 | 5,264 | 6,182 | |||||||||||||
North America | 7,038 | 7,130 | 19,082 | 23,117 | |||||||||||||
United Kingdom | 3,052 | 2,796 | 9,069 | 9,681 | |||||||||||||
France | 1,441 | 1,677 | 4,237 | 4,695 | |||||||||||||
Sweden | 781 | 867 | 3,221 | 3,336 | |||||||||||||
Japan | 315 | 347 | 985 | 931 | |||||||||||||
Total | $ | 12,627 | $ | 12,817 | $ | 36,594 | $ | 41,760 | |||||||||
Total assets: | |||||||||||||||||
United States | $ | 29,931 | $ | 31,474 | |||||||||||||
Canada | 4,024 | 4,355 | |||||||||||||||
North America | 33,955 | 35,829 | |||||||||||||||
United Kingdom | 16,124 | 19,875 | |||||||||||||||
France | 5,931 | 6,626 | |||||||||||||||
Sweden | 5,022 | 5,888 | |||||||||||||||
Japan | 1,652 | 1,848 | |||||||||||||||
Total | $ | 62,684 | $ | 70,066 | |||||||||||||
Note_8_Stockholders_Equity
Note 8 - Stockholders' Equity | 9 Months Ended |
Jun. 27, 2014 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
NOTE 8—STOCKHOLDERS’ EQUITY | |
During the three and nine months ended June 27, 2014 and June 28, 2013, we did not repurchase any shares of our common stock. |
Note_9_Fair_Value_Measurements
Note 9 - Fair Value Measurements | 9 Months Ended |
Jun. 27, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value Disclosures [Text Block] | ' |
NOTE 9—FAIR VALUE MEASUREMENTS | |
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal market for the asset or liability, or in the absence of a principal market, the most advantageous market for the asset or liability. The fair value is measured on assumptions that market participants would use, including assumptions about non-performance risk and credit risk. | |
ASC 820 establishes a fair value hierarchy for valuation inputs and prioritizes them based on the extent to which the inputs are observable in the marketplace. Categorization is based on the lowest level of input that is available and significant to the measurement. These levels are: | |
Level 1—Quoted prices in active markets for identical assets and liabilities. | |
Level 2—Observable inputs other than quoted prices in active markets, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and market corroborated inputs. | |
Level 3—Unobservable inputs that reflect management’s assumptions about the estimates and risks that market participants would use in pricing the asset or liability. | |
Non-Financial Liabilities Measured at Fair Value on a Nonrecurring Basis | |
We measure our ARO liabilities at fair value on a nonrecurring basis when we believe there has been an indication the fair value has changed. We did not adjust the values of those liabilities during the three and nine months ended June 27, 2014 and June 28, 2013. |
Note_10_Deferred_Facilities_Re
Note 10 - Deferred Facilities Rent And Other | 9 Months Ended | ||||||||
Jun. 27, 2014 | |||||||||
Deferred Facilities Rent And Other [Abstract] | ' | ||||||||
Deferred Facilities Rent And Other [Text Block] | ' | ||||||||
NOTE 10—DEFERRED FACILITIES RENT AND OTHER | |||||||||
Deferred Facilities Rent and Other | |||||||||
The following tables show details of the following line items in our condensed consolidated balance sheets. | |||||||||
Current Portion of Deferred Facilities Rent and Other | |||||||||
June 27, | September 27, | ||||||||
2014 | 2013 | ||||||||
Deferred rent | $ | 1,033 | $ | 965 | |||||
LA lease liability | 670 | 634 | |||||||
Sublease loss accruals | 0 | 64 | |||||||
$ | 1,703 | $ | 1,663 | ||||||
Deferred Facilities Rent and Other | |||||||||
June 27, | September 27, | ||||||||
2014 | 2013 | ||||||||
Deferred rent | $ | 3,694 | $ | 4,362 | |||||
LA lease liability | 443 | 398 | |||||||
$ | 4,137 | $ | 4,760 | ||||||
Note_11_Recent_Accounting_Pron
Note 11 - Recent Accounting Pronouncements | 9 Months Ended |
Jun. 27, 2014 | |
Disclosure Text Block [Abstract] | ' |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
NOTE 11—RECENT ACCOUNTING PRONOUNCEMENTS | |
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is not permitted. We are currently evaluating the impact that the standard will have on our financial condition, results of operations, and disclosures. |
Note_12_Restructing_Activity
Note 12 - Restructing Activity | 9 Months Ended | ||||||||||||||||
Jun. 27, 2014 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 12—RESTRUCTURING ACTIVITY | |||||||||||||||||
In September 2012, we announced a worldwide reduction in force involving approximately 40 employees and our intention to close the Los Angeles, CA office facility, which closure was completed in our first quarter of fiscal year 2013. During the nine months ended June 28, 2013 we incurred $1.3 million of expense relating to this reduction in force and closure of the Los Angeles office. During the three months ended June 27, 2014, we incurred $0.5 million of additional expense related to the closure of the Los Angeles office. We originally estimated that it would take one and a half years to sublet this office space, however, we have yet to sublease this office space. Since it has taken longer than originally expected to sublet this office space, we have revised our estimates used in the calculation of the original charge resulting in the additional restructuring charge. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
June 27, | June 28, | June 27, | June 28, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Worldwide reduction in force | $ | 0 | $ | 0 | $ | 0 | $ | 234 | |||||||||
Depreciation of leasehold improvements | 0 | 0 | 0 | 371 | |||||||||||||
Contractual lease payments net of estimated sublease receipts | 529 | 0 | 529 | 740 | |||||||||||||
Total: | $ | 529 | $ | 0 | $ | 529 | $ | 1,345 | |||||||||
Note_13_United_Kingdom_Lease_T
Note 13 - United Kingdom Lease Termination | 9 Months Ended |
Jun. 27, 2014 | |
Leases [Abstract] | ' |
Leases of Lessee Disclosure [Text Block] | ' |
NOTE 13—UNITED KINGDOM LEASE TERMINATION | |
On November 14, 2012, we, together with our United Kingdom subsidiary, Learning Tree International Limited, and Laxton Properties Limited (“Laxton”) surrendered our lease dated March 19, 1999 for Learning Tree International Limited’s Education Center facility in London (“Euston House”), which had been due to run through January 2019. Learning Tree International Limited had been subleasing certain floors of the Euston House location to third-party subtenants. In conjunction with the surrender, the subleases reverted to Laxton and Learning Tree International Limited entered into four new leases with Laxton for only the space we needed to run our operations in London. We are party to each of the four new leases as guarantor for our subsidiary’s obligations. The four leases each became effective as of November 14, 2012 and cover the total rentable area of Euston House’s (1) ground and basement floors; (2) first floor; (3) second floor; and (4) part of the sixth floor. The first three leases run through November 13, 2022 and our fourth lease for part of the sixth floor runs through August 23, 2014. The aggregate annual minimum rent of the leases is £1.4 million ($2.3 million USD in then current exchange rates), compared to the original gross minimum rent of £2.8 million ($4.6 million USD in then current exchange rates) offset by £1.5 million ($2.4 million USD in then current exchange rates) in sublease rents for a net of £1.3 million ($2.2 million USD in then current exchange rates) under the prior lease. In connection with the early surrender of the original lease, we paid Laxton a £2.0 million ($3.2 million USD in then current exchange rates) surrender payment. As a result of the surrender of the original lease, we were released from our ARO, estimated at £1.9 million ($3.0 million USD in then current exchange rates), to restore the leasehold space to original condition, and the £5.0 million ($8.1 million USD in then current exchange rates) deposit that was being held in escrow as security against our default on the rental payments was released to Learning Tree International Limited by Laxton. Under the terms of the new leases, deposits totaling £1.7 million ($2.7 million USD in then current exchange rates) have been deposited with Laxton as security against our default on the payments under the leases. The impact to net income (loss) for our first quarter of fiscal year 2013, taking into account the surrender payment, the release of the ARO, and reversal of deferred rents was less than £0.1 million ($0.1 million USD in then current exchange rates). |
Note_14_Subsequent_Events
Note 14 - Subsequent Events | 9 Months Ended |
Jun. 27, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 14—SUBSEQUENT EVENTS | |
On July 15, 2014, Learning Tree International, Inc.’s wholly owned subsidiary, Learning Tree International USA, Inc. (the “Seller”), entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”) for the sale to 1831 Michael Faraday LLC (the “Purchaser”) of land, improvements, certain other related personal property and appurtenant real property comprising the Seller’s 1831 Michael Faraday Drive, Reston, Virginia property (the “Property”) for an aggregate purchase price of $10.2 million (the “Purchase Price”). Upon entering into the Purchase and Sale Agreement and pursuant to an Escrow Agreement dated July 15, 2014 (the “Escrow Agreement”), the Purchaser made an initial earnest money deposit of $100,000 with a nationally recognized third party escrow agent (the “Escrow Agent”) and will deposit an additional $150,000 of earnest money with the Escrow Agent not later than the completion of a 30 day inspection period ending August 14, 2014 (the “Inspection Period”). During the Inspection Period, the Purchaser has the right to terminate the Purchase and Sale Agreement for any or no reason and, upon such termination, is entitled to a full refund of the initial deposit. The remaining Purchase Price will be paid by the Purchaser to the Seller at closing. Subject to satisfaction of customary closing conditions, the closing is expected to occur on or before September 3, 2014 (the “Closing Date”). As the expected sale meets the criteria for an asset to be classified as held for sale, we have reclassified the Michael Faraday Drive property as Assets held for sale under Current Assets as of June 27, 2014. | |
In connection with the sale of the Property, the Purchaser agreed to lease back to the Seller, and the Seller agreed to lease from the Purchaser, the entire Property pursuant to the terms of a Deed of Lease (the “Lease”), which will be executed concurrently with the closing of the transaction as contemplated by the Purchase and Sale Agreement. A summary of the material terms of the Lease to be entered into between the Seller and the Purchaser is as follows: | |
● Term: Twelve (12) months commencing on the Closing Date. | |
● Renewal Term: Up to two (2) consecutive terms of six (6) months each. | |
● Base Rent: $42,500.00 per month, which amount is net of taxes, insurance and operating costs of the Property. | |
● Taxes, Insurance and Operating Expenses: Seller, as tenant, will be responsible for all taxes, insurance and operating expenses of the Property during the term of the Lease. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Jun. 27, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
The accompanying unaudited condensed consolidated financial statements of Learning Tree International, Inc. and our subsidiaries (collectively, “Learning Tree,” “we,” “our” or “us”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and, therefore, omit or condense certain note disclosures and other information required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended September 27, 2013. | |
We use the 52/53-week fiscal year method to better align our external financial reporting with the manner in which we operate our business. Under this method, each fiscal quarter ends on the Friday closest to the end of the calendar quarter. Accordingly, our third quarter of the current fiscal year ended on June 27, 2014 and encompassed 13 weeks, while our third quarter of the prior fiscal year ended on June 28, 2013 and also encompassed 13 weeks. | |
In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments that are only of a normal recurring nature, considered necessary to present fairly our financial position as of June 27, 2014, and our results of operations for the three and nine months ended June 27, 2014 and June 28, 2013, and our cash flows for the nine months ended June 27, 2014 and June 28, 2013. Certain items in the condensed consolidated financial statements have been reclassified to conform to the current presentation. | |
Fair Value Measurement, Policy [Policy Text Block] | ' |
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal market for the asset or liability, or in the absence of a principal market, the most advantageous market for the asset or liability. The fair value is measured on assumptions that market participants would use, including assumptions about non-performance risk and credit risk. | |
ASC 820 establishes a fair value hierarchy for valuation inputs and prioritizes them based on the extent to which the inputs are observable in the marketplace. Categorization is based on the lowest level of input that is available and significant to the measurement. These levels are: | |
Level 1—Quoted prices in active markets for identical assets and liabilities. | |
Level 2—Observable inputs other than quoted prices in active markets, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and market corroborated inputs. | |
Level 3—Unobservable inputs that reflect management’s assumptions about the estimates and risks that market participants would use in pricing the asset or liability. |
Note_3_Asset_Retirement_Obliga1
Note 3 - Asset Retirement Obligations (Tables) | 9 Months Ended | ||||||||
Jun. 27, 2014 | |||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ||||||||
Schedule of Change in Asset Retirement Obligation [Table Text Block] | ' | ||||||||
Nine months ended | Year ended | ||||||||
27-Jun-14 | 27-Sep-13 | ||||||||
ARO balance, beginning of period | $ | 2,004 | $ | 3,907 | |||||
Liabilities incurred | 0 | 1,022 | |||||||
Accretion expense | 72 | 99 | |||||||
Liabilities satisfied | 0 | (29 | ) | ||||||
Settlement of ARO liability | (186 | ) | (2,929 | ) | |||||
Foreign currency translation | 77 | (66 | ) | ||||||
ARO balance, end of period | $ | 1,967 | $ | 2,004 |
Note_4_Earnings_Loss_Per_Share1
Note 4 - Earnings (Loss) Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Jun. 27, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
27-Jun-14 | 28-Jun-13 | 27-Jun-14 | 28-Jun-13 | ||||||||||||||
Numerator: | |||||||||||||||||
Net loss | $ | (2,746 | ) | $ | (1,079 | ) | $ | (6,620 | ) | $ | (6,510 | ) | |||||
Denominator: | |||||||||||||||||
Weighted average shares outstanding | |||||||||||||||||
Basic | 13,223 | 13,217 | 13,221 | 13,208 | |||||||||||||
Effect of dilutive securities | 0 | 0 | 0 | 0 | |||||||||||||
Diluted | $ | 13,223 | $ | 13,217 | $ | 13,221 | $ | 13,208 | |||||||||
Loss per common share - basic | $ | (0.21 | ) | $ | (0.08 | ) | $ | (0.50 | ) | $ | (0.49 | ) | |||||
Loss per common share - diluted | $ | (0.21 | ) | $ | (0.08 | ) | $ | (0.50 | ) | $ | (0.49 | ) |
Note_7_Segment_Reporting_Table
Note 7 - Segment Reporting (Tables) | 9 Months Ended | ||||||||||||||||
Jun. 27, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
June 27, | June 28, | June 27, | June 28, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenues: | |||||||||||||||||
United States | $ | 14,925 | $ | 14,634 | $ | 40,329 | $ | 41,937 | |||||||||
Canada | 2,047 | 2,531 | 8,824 | 10,320 | |||||||||||||
North America | 16,972 | 17,165 | 49,153 | 52,257 | |||||||||||||
United Kingdom | 6,872 | 6,570 | 21,205 | 21,081 | |||||||||||||
France | 3,041 | 3,265 | 8,773 | 9,156 | |||||||||||||
Sweden | 1,391 | 1,446 | 5,187 | 5,265 | |||||||||||||
Japan | 483 | 512 | 1,467 | 1,422 | |||||||||||||
Total | $ | 28,759 | $ | 28,958 | $ | 85,785 | $ | 89,181 | |||||||||
Gross profit: | |||||||||||||||||
United States | $ | 5,948 | $ | 5,781 | $ | 13,818 | $ | 16,935 | |||||||||
Canada | 1,090 | 1,349 | 5,264 | 6,182 | |||||||||||||
North America | 7,038 | 7,130 | 19,082 | 23,117 | |||||||||||||
United Kingdom | 3,052 | 2,796 | 9,069 | 9,681 | |||||||||||||
France | 1,441 | 1,677 | 4,237 | 4,695 | |||||||||||||
Sweden | 781 | 867 | 3,221 | 3,336 | |||||||||||||
Japan | 315 | 347 | 985 | 931 | |||||||||||||
Total | $ | 12,627 | $ | 12,817 | $ | 36,594 | $ | 41,760 | |||||||||
Total assets: | |||||||||||||||||
United States | $ | 29,931 | $ | 31,474 | |||||||||||||
Canada | 4,024 | 4,355 | |||||||||||||||
North America | 33,955 | 35,829 | |||||||||||||||
United Kingdom | 16,124 | 19,875 | |||||||||||||||
France | 5,931 | 6,626 | |||||||||||||||
Sweden | 5,022 | 5,888 | |||||||||||||||
Japan | 1,652 | 1,848 | |||||||||||||||
Total | $ | 62,684 | $ | 70,066 |
Note_10_Deferred_Facilities_Re1
Note 10 - Deferred Facilities Rent And Other (Tables) | 9 Months Ended | ||||||||
Jun. 27, 2014 | |||||||||
Deferred Facilities Rent And Other [Abstract] | ' | ||||||||
Schedule of Current Portion of Deferred Facilities Rent and Other [Table Text Block] | ' | ||||||||
June 27, | September 27, | ||||||||
2014 | 2013 | ||||||||
Deferred rent | $ | 1,033 | $ | 965 | |||||
LA lease liability | 670 | 634 | |||||||
Sublease loss accruals | 0 | 64 | |||||||
$ | 1,703 | $ | 1,663 | ||||||
Schedule of Long Term Portion of Deferred Facilities Rent and Other [Table Text Block] | ' | ||||||||
June 27, | September 27, | ||||||||
2014 | 2013 | ||||||||
Deferred rent | $ | 3,694 | $ | 4,362 | |||||
LA lease liability | 443 | 398 | |||||||
$ | 4,137 | $ | 4,760 |
Note_12_Restructing_Activity_T
Note 12 - Restructing Activity (Tables) | 9 Months Ended | ||||||||||||||||
Jun. 27, 2014 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
June 27, | June 28, | June 27, | June 28, | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Worldwide reduction in force | $ | 0 | $ | 0 | $ | 0 | $ | 234 | |||||||||
Depreciation of leasehold improvements | 0 | 0 | 0 | 371 | |||||||||||||
Contractual lease payments net of estimated sublease receipts | 529 | 0 | 529 | 740 | |||||||||||||
Total: | $ | 529 | $ | 0 | $ | 529 | $ | 1,345 |
Note_2_StockBased_Compensation1
Note 2 - Stock-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | |
Jun. 27, 2014 | Jun. 27, 2014 | Jun. 28, 2013 | Jun. 28, 2013 | |
2007 Equity Incentive Plan [Member] | ||||
Note 2 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $200,000 | $300,000 | $100,000 | $34,000 |
Note_3_Asset_Retirement_Obliga2
Note 3 - Asset Retirement Obligations (Details) - Asset Retirement Obligations Liabilities Activity (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 27, 2014 | Jun. 28, 2013 | Sep. 27, 2013 |
Asset Retirement Obligations Liabilities Activity [Abstract] | ' | ' | ' |
ARO Balance | $2,004 | $3,907 | $3,907 |
Liabilities incurred | 0 | ' | 1,022 |
Accretion expense | 72 | 77 | 99 |
Liabilities satisfied | 0 | ' | -29 |
Settlement of ARO liability | -186 | 0 | -2,929 |
Foreign currency translation | 77 | ' | -66 |
ARO Balance | $1,967 | ' | $2,004 |
Note_4_Earnings_Loss_Per_Share2
Note 4 - Earnings (Loss) Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2014 | Jun. 28, 2013 | Jun. 27, 2014 | Jun. 28, 2013 | |
Equity Option [Member] | ' | ' | ' | ' |
Note 4 - Earnings (Loss) Per Share (Details) [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 200,000 | ' | 200,000 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Note 4 - Earnings (Loss) Per Share (Details) [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,700 | 9,400 | 3,700 | 9,400 |
Note_4_Earnings_Loss_Per_Share3
Note 4 - Earnings (Loss) Per Share (Details) - Basic and Diluted Earnings Per Share (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 27, 2014 | Jun. 28, 2013 | Jun. 27, 2014 | Jun. 28, 2013 |
Numerator: | ' | ' | ' | ' |
Net loss (in Dollars) | ($2,746) | ($1,079) | ($6,620) | ($6,510) |
Denominator: | ' | ' | ' | ' |
Basic | 13,223 | 13,217 | 13,221 | 13,208 |
Effect of dilutive securities | 0 | 0 | 0 | 0 |
Diluted | 13,223 | 13,217 | 13,221 | 13,208 |
Loss per common share - basic (in Dollars per share) | ($0.21) | ($0.08) | ($0.50) | ($0.49) |
Loss per common share - diluted (in Dollars per share) | ($0.21) | ($0.08) | ($0.50) | ($0.49) |
Note_5_Income_Taxes_Details
Note 5 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 27, 2014 | Jun. 28, 2013 | Jun. 27, 2014 | Jun. 28, 2013 |
Note 5 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit) | $76 | $123 | $503 | $542 |
Income Tax Expense for Foreign Subsidiaries [Member] | ' | ' | ' | ' |
Note 5 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit) | $100 | ' | ' | ' |
Note_6_Commitments_And_Conting1
Note 6 - Commitments And Contingencies (Details) | 0 Months Ended | 0 Months Ended | ||||||||||||
Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | Jun. 17, 2014 | 7-May-14 | Jun. 17, 2014 | Jun. 17, 2014 | |
Paid in Advance [Member] | Paid in Advance [Member] | Cost of Architect [Member] | Cost of Architect [Member] | Lease Extension In Event of Delay [Member] | Basic Rent Amount [Member] | Basic Rent Amount [Member] | Basic Supplemental Rent [Member] | Basic Supplemental Rent [Member] | Security Deposit [Member] | Security Deposit [Member] | 160 Elgin Leaseholds Inc. [Member] | Forvaltningsbolaget Marievik HB [Member] | Forvaltningsbolaget Marievik HB [Member] | |
Forvaltningsbolaget Marievik HB [Member] | Forvaltningsbolaget Marievik HB [Member] | Forvaltningsbolaget Marievik HB [Member] | Forvaltningsbolaget Marievik HB [Member] | Forvaltningsbolaget Marievik HB [Member] | Vasakronan [Member] | Vasakronan [Member] | Vasakronan [Member] | Vasakronan [Member] | Vasakronan [Member] | Vasakronan [Member] | USD ($) | SEK | ||
USD ($) | SEK | USD ($) | SEK | USD ($) | SEK | USD ($) | SEK | USD ($) | SEK | |||||
Note 6 - Commitments And Contingencies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lessee Leasing Arrangements, Operating Leases, Term of Contract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Proceeds From Lease Termination | $150,000 | 1,000,000 | $30,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | $600,000 | 3,740,000 |
Lease Expiration Date | ' | ' | ' | ' | 28-Feb-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Future Minimum Payments Due | ' | ' | ' | ' | ' | $400,000 | 2,650,000 | $75,000 | 490,000 | $200,000 | 1,500,000 | ' | ' | ' |
Note_7_Segment_Reporting_Detai
Note 7 - Segment Reporting (Details) | 9 Months Ended | |
Jun. 27, 2014 | Jun. 28, 2013 | |
Note 7 - Segment Reporting (Details) [Line Items] | ' | ' |
Number of Customers More Than Ten Percent of Revenue | 0 | 0 |
Number of Countries in which Entity Operates | 6 | ' |
North America [Member] | ' | ' |
Note 7 - Segment Reporting (Details) [Line Items] | ' | ' |
Number of Reportable Segments | ' | 1 |
Note_7_Segment_Reporting_Detai1
Note 7 - Segment Reporting (Details) - Financial Information by Reportable Segment (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 27, 2014 | Jun. 28, 2013 | Jun. 27, 2014 | Jun. 28, 2013 | Sep. 27, 2013 |
Revenues: | ' | ' | ' | ' | ' |
Revenues | $28,759 | $28,958 | $85,785 | $89,181 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 12,627 | 12,817 | 36,594 | 41,760 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | 62,684 | 70,066 | 62,684 | 70,066 | 68,962 |
UNITED STATES | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' |
Revenues | 14,925 | 14,634 | 40,329 | 41,937 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 5,948 | 5,781 | 13,818 | 16,935 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | 29,931 | 31,474 | 29,931 | 31,474 | ' |
CANADA | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' |
Revenues | 2,047 | 2,531 | 8,824 | 10,320 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 1,090 | 1,349 | 5,264 | 6,182 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | 4,024 | 4,355 | 4,024 | 4,355 | ' |
North America [Member] | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' |
Revenues | 16,972 | 17,165 | 49,153 | 52,257 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 7,038 | 7,130 | 19,082 | 23,117 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | 33,955 | 35,829 | 33,955 | 35,829 | ' |
UNITED KINGDOM | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' |
Revenues | 6,872 | 6,570 | 21,205 | 21,081 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 3,052 | 2,796 | 9,069 | 9,681 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | 16,124 | 19,875 | 16,124 | 19,875 | ' |
FRANCE | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' |
Revenues | 3,041 | 3,265 | 8,773 | 9,156 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 1,441 | 1,677 | 4,237 | 4,695 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | 5,931 | 6,626 | 5,931 | 6,626 | ' |
SWEDEN | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' |
Revenues | 1,391 | 1,446 | 5,187 | 5,265 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 781 | 867 | 3,221 | 3,336 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | 5,022 | 5,888 | 5,022 | 5,888 | ' |
JAPAN | ' | ' | ' | ' | ' |
Revenues: | ' | ' | ' | ' | ' |
Revenues | 483 | 512 | 1,467 | 1,422 | ' |
Gross profit: | ' | ' | ' | ' | ' |
Gross profit | 315 | 347 | 985 | 931 | ' |
Total assets: | ' | ' | ' | ' | ' |
Total assets | $1,652 | $1,848 | $1,652 | $1,848 | ' |
Note_8_Stockholders_Equity_Det
Note 8 - Stockholders' Equity (Details) | 3 Months Ended | 9 Months Ended | ||
Jun. 27, 2014 | Jun. 28, 2013 | Jun. 27, 2014 | Jun. 28, 2013 | |
Stockholders' Equity Note [Abstract] | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | 0 | 0 | 0 | 0 |
Note_10_Deferred_Facilities_Re2
Note 10 - Deferred Facilities Rent And Other (Details) - Current Portion of Deferred Facilities Rent and Other (USD $) | Jun. 27, 2014 | Sep. 27, 2013 |
In Thousands, unless otherwise specified | ||
Current Portion of Deferred Facilities Rent and Other [Abstract] | ' | ' |
Deferred rent | $1,033 | $965 |
LA lease liability | 670 | 634 |
Sublease loss accruals | 0 | 64 |
$1,703 | $1,663 |
Note_10_Deferred_Facilities_Re3
Note 10 - Deferred Facilities Rent And Other (Details) - Deferred Facilities Rent and Other (USD $) | Jun. 27, 2014 | Sep. 27, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Facilities Rent and Other [Abstract] | ' | ' |
Deferred rent | $3,694 | $4,362 |
LA lease liability | 443 | 398 |
$4,137 | $4,760 |
Note_12_Restructing_Activity_D
Note 12 - Restructing Activity (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Jun. 27, 2014 | Dec. 28, 2012 | Jun. 28, 2013 |
Restructuring and Related Activities [Abstract] | ' | ' | ' |
Restructuring and Related Cost, Number of Positions Eliminated | ' | 40 | ' |
Restructuring Charges | $0.50 | ' | $1.30 |
Note_12_Restructing_Activity_D1
Note 12 - Restructing Activity (Details) - Restructuring Activity (USD $) | Jun. 27, 2014 | Jun. 28, 2013 |
In Thousands, unless otherwise specified | ||
Three Months Ended [Member] | Reduction In Force [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | $0 | $0 |
Three Months Ended [Member] | Accelerated Depreciation Leasehold Improvements [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | 0 | 0 |
Three Months Ended [Member] | Contractual Lease Payments [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | 529 | 0 |
Three Months Ended [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | 529 | 0 |
Nine Months Ended [Member] | Reduction In Force [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | 0 | 234 |
Nine Months Ended [Member] | Accelerated Depreciation Leasehold Improvements [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | 0 | 371 |
Nine Months Ended [Member] | Contractual Lease Payments [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | 529 | 740 |
Nine Months Ended [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring Reserve | $529 | $1,345 |
Note_13_United_Kingdom_Lease_T1
Note 13 - United Kingdom Lease Termination (Details) | 9 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | |||||||
Jun. 27, 2014 | Jun. 28, 2013 | Sep. 27, 2013 | Nov. 14, 2012 | Nov. 14, 2012 | Nov. 14, 2012 | Nov. 14, 2012 | Nov. 14, 2012 | Nov. 14, 2012 | Dec. 28, 2012 | Dec. 28, 2012 | |
USD ($) | USD ($) | USD ($) | New Lease [Member] | New Lease [Member] | Original Lease [Member] | Original Lease [Member] | Original Lease [Member] | Original Lease [Member] | Maximum [Member] | Maximum [Member] | |
Learning Tree International Limited [Member] | Learning Tree International Limited [Member] | Learning Tree International Limited [Member] | Learning Tree International Limited [Member] | USD ($) | GBP (£) | USD ($) | GBP (£) | ||||
USD ($) | GBP (£) | USD ($) | GBP (£) | ||||||||
Note 13 - United Kingdom Lease Termination (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Leases, Rent Expense, Net | ' | ' | ' | $2,300,000 | £ 1,400,000 | $2,200,000 | £ 1,300,000 | ' | ' | ' | ' |
Operating Leases, Rent Expense | ' | ' | ' | ' | ' | 4,600,000 | 2,800,000 | ' | ' | ' | ' |
Operating Leases, Rent Expense, Sublease Rentals | ' | ' | ' | ' | ' | 2,400,000 | 1,500,000 | ' | ' | ' | ' |
Surrender Payment | ' | ' | ' | ' | ' | ' | ' | 3,200,000 | 2,000,000 | ' | ' |
Asset Retirement Obligation, Liabilities Settled | -186,000 | 0 | -2,929,000 | ' | ' | ' | ' | 3,000,000 | 1,900,000 | ' | ' |
Escrow Deposit | ' | ' | ' | 2,700,000 | 1,700,000 | 8,100,000 | 5,000,000 | ' | ' | ' | ' |
Operating Leases, Income Statement, Initial Direct Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | £ 100,000 |
Note_14_Subsequent_Events_Deta
Note 14 - Subsequent Events (Details) (USD $) | Jun. 27, 2014 | Sep. 27, 2013 | Jul. 15, 2014 | Jul. 15, 2014 | Sep. 03, 2014 | Jul. 15, 2014 |
Additional Earnest Money Deposit [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||
Subsequent Event [Member] | 1831 Michael Faraday Drive, Reston, Virginia [Member] | 1831 Michael Faraday Drive, Reston, Virginia [Member] | 1831 Michael Faraday Drive, Reston, Virginia [Member] | |||
1831 Michael Faraday Drive, Reston, Virginia [Member] | ||||||
Note 14 - Subsequent Events (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Disposal Group, Including Discontinued Operation, Assets, Current | $3,582,000 | $0 | ' | ' | ' | $10,200,000 |
Earnest Money Deposits | ' | ' | 150,000 | ' | ' | 100,000 |
Inspection Period End Date | ' | ' | ' | 14-Aug-14 | ' | ' |
Closing Date | ' | ' | ' | 3-Sep-14 | ' | ' |
Lessee Leasing Arrangements, Operating Leases, Term of Contract | ' | ' | ' | ' | '12 months | ' |
Lease Renewal Term | ' | ' | ' | ' | 2 | ' |
Lessee Leasing Arrangements, Operating Leases, Renewal Term | ' | ' | ' | '6 months | ' | ' |
Sale Leaseback Transaction, Monthly Rental Payments | ' | ' | ' | $42,500 | ' | ' |