Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 31, 2017 | May 01, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | LEARNING TREE INTERNATIONAL, INC. | |
Entity Central Index Key | 1,002,037 | |
Trading Symbol | ltre | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 13,224,349 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Assets | ||
Cash and cash equivalents | $ 5,327 | $ 8,540 |
Trade accounts receivable, net | 7,283 | 9,538 |
Income tax receivable | 140 | 208 |
Prepaid expenses | 1,928 | 1,916 |
Other current assets | 1,403 | 1,424 |
Total current assets | 16,081 | 21,626 |
Education and office equipment | 28,709 | 32,388 |
Transportation equipment | 42 | 43 |
Property and leasehold improvements | 9,879 | 18,469 |
38,630 | 50,900 | |
Less: accumulated depreciation and amortization | (33,667) | (44,990) |
4,963 | 5,910 | |
Restricted interest-bearing investments | 2,513 | 2,943 |
Deferred income taxes | 410 | 427 |
Other assets | 1,088 | 701 |
Total assets | 25,055 | 31,607 |
Current Liabilities | ||
Trade accounts payable | 6,020 | 6,095 |
Deferred revenues | 17,824 | 21,017 |
Accrued payroll, benefits and related taxes | 2,079 | 2,414 |
Other accrued liabilities | 1,083 | 973 |
Income taxes payable | 106 | 0 |
Current portion of deferred facilities rent and other | 1,588 | 1,667 |
Total current liabilities | 28,700 | 32,166 |
Asset retirement obligations | 1,364 | 1,369 |
Deferred income taxes | 71 | 89 |
Deferred facilities rent and other | 6,183 | 6,297 |
Noncurrent tax liabilities | 1,502 | 1,475 |
Total liabilities | 37,820 | 41,396 |
COMMITMENTS AND CONTINGENCIES | ||
Stockholders' Deficit | ||
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; 13,224,349 shares issued and outstanding | 1 | 1 |
Additional paid-in capital | 6,439 | 6,388 |
Accumulated other comprehensive loss | (1,181) | (882) |
Accumulated Deficit | (18,024) | (15,296) |
Total stockholders' deficit | (12,765) | (9,789) |
Total liabilities and stockholders' deficit | $ 25,055 | $ 31,607 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2017 | Sep. 30, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 75,000,000 | 75,000,000 |
Common stock, shares issued (in shares) | 13,224,349 | 13,224,349 |
Common stock, shares outstanding (in shares) | 13,224,349 | 13,224,349 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | |
Revenues | $ 16,071 | $ 18,688 | $ 34,623 | $ 38,819 |
Cost of revenues | 9,630 | 12,659 | 20,218 | 24,513 |
Gross profit | 6,441 | 6,029 | 14,405 | 14,306 |
Operating expenses: | ||||
Course development | 752 | 1,322 | 1,521 | 2,636 |
Sales and marketing | 3,485 | 4,890 | 7,062 | 9,509 |
General and administrative | 3,880 | 5,044 | 8,002 | 9,658 |
Restructuring charge | 386 | 0 | 386 | 0 |
Operating expenses | 8,503 | 11,256 | 16,971 | 21,803 |
Loss from operations | (2,062) | (5,227) | (2,566) | (7,497) |
Other income (expense): | ||||
Interest income (expense), net | (16) | 6 | (1) | 15 |
Foreign exchange gains (losses) | (84) | (58) | 108 | 10 |
Other, net | (11) | (33) | (17) | (34) |
Other operating items | (111) | (85) | 90 | (9) |
Loss from operations before provision for income taxes | (2,173) | (5,312) | (2,476) | (7,506) |
Provision for income taxes | 176 | 59 | 252 | 144 |
Net loss | $ (2,349) | $ (5,371) | $ (2,728) | $ (7,650) |
Loss per common share - basic and diluted: | ||||
Basic and diluted loss per share (in dollars per share) | $ (0.18) | $ (0.41) | $ (0.21) | $ (0.58) |
Weighted average shares - basic and diluted (in shares) | 13,224 | 13,224 | 13,224 | 13,224 |
Comprehensive loss: | ||||
Net Loss | $ (2,349) | $ (5,371) | $ (2,728) | $ (7,650) |
Foreign currency translation adjustments | 129 | 84 | (298) | (128) |
Comprehensive loss | $ (2,220) | $ (5,287) | $ (3,026) | $ (7,778) |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2017 | Apr. 01, 2016 | |
Cash flows - operating activities | ||
Net Loss | $ (2,728) | $ (7,650) |
Adjustments to reconcile net loss from operations to net cash used in operating activities: | ||
Depreciation and amortization | 825 | 1,491 |
Share-based compensation | 51 | 83 |
Deferred income taxes | (16) | 0 |
Provision for doubtful accounts | 239 | 68 |
Accretion on asset retirement obligations | 32 | 40 |
Loss (gain) on disposal of equipment, property and leasehold improvements | 60 | (2) |
Restructuring charge | 386 | 0 |
Unrealized foreign exchange (gains) losses | (322) | 3 |
Settlement of asset retirement obligation | 0 | (106) |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | 1,923 | 1,475 |
Prepaid expenses and other assets | (227) | (756) |
Income tax receivable / payable | 197 | 5 |
Trade accounts payable | (15) | (1,224) |
Deferred revenues | (3,009) | 234 |
Deferred facilities rent and other | (432) | 349 |
Other accrued liabilities | (41) | (415) |
Net cash used in operating activities | (3,077) | (6,405) |
Cash flows - investing activities: | ||
Purchases of equipment, property and leasehold improvements | (13) | (716) |
Proceeds from sale of equipment, property and leasehold improvements | 0 | 2 |
Net cash used in investing activities | (13) | (714) |
Effects of exchange rate changes on cash and cash equivalents | (123) | (48) |
Net decrease in cash and cash equivalents | (3,213) | (7,167) |
Cash and cash equivalents at the beginning of the period | 8,540 | 17,936 |
Cash and cash equivalents at the end of the period | 5,327 | 10,769 |
Leasehold Improvements [Member] | ||
Supplemental non-cash disclosures: | ||
Non-cash leasehold improvements | $ 0 | $ 1,542 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1—BASIS The accompanying unaudited interim condensed consolidated financial statements of Learning Tree International, Inc. and our subsidiaries (collectively, “Learning Tree,” “Company,” “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 The financial statements have been prepared assuming that the Company will continue as a going concern, but due to the Company’s future liquidity needs, history of net losses, and negative cash flows from continuing operations, there is substantial doubt about the Company’s ability to continue as a going concern as more fully described in our Annual Report on Form 10 September 30, 2016. 10 September 30, 2016. As of and for the second 2017, March 31, 2017, $18.0 2016 four March 31, 2017, $5.3 2017. We continue to execute on our new strategies to expand our overall customer base. We experienced a 1.6% second 2017 second 2016, second 2017, second 2016. To further address our liquidity needs in the near term, on January 12, 2017, $3.0 85% may, may 12 We are also continuing to evaluate additional sources of capital and financing. We have retained the services of a financial advisor to assist us in assessing strategic options available to the Company. However, there is no assurance that additional capital and/or financing will be available to the Company and, even if available, whether it will be on terms acceptable to us or in amounts required. The stabilization of revenues and reduction in costs are integral to our goal of achieving a break-even operating income line and a positive cash flow from operations. We cannot provide assurances that our plans will not change, that changed circumstances will not result in the depletion of our capital resources more rapidly than we currently anticipate, or that we will be successful in securing additional liquidity. The unaudited interim condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, but due to the Company’s future liquidity needs, history of net losses, and negative cash flows from continuing operations, there is substantial doubt about the Company’s ability to continue as a going concern. The unaudited interim condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. We use the 52/53 second March 31, 2017 13 second April 1, 2016 13 In the opinion of management, the accompanying unaudited interim 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 March 31, 2017, three six March 31, 2017 April 1, 2016, six March 31, 2017 April 1, 2016. |
Note 2 - Stock-based Compensati
Note 2 - Stock-based Compensation | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 2—STOCK Stock-based compensation expense related to grants of employee stock options was less than $0.1 three six March 31, 2017 April 1, 2016, |
Note 3 - Asset Retirement Oblig
Note 3 - Asset Retirement Obligations | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Asset Retirement Obligation Disclosure [Text Block] | NOTE 3—ASSET 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: Six months ended Twelve months ended March 31, 2017 September 30, 2016 ARO balance, beginning of period $ 1,369 $ 1,669 Accretion expense 32 76 Liabilities satisfied 0 (128 ) Settlement of ARO liability 0 (77 ) Foreign currency translation (37 ) (171 ) ARO balance, end of period $ 1,364 $ 1,369 |
Note 4 - Earnings (Loss) Per Sh
Note 4 - Earnings (Loss) Per Share | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4—EARNINGS Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share is computed similarly to basic earnings (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 650,000 850,000 three six March 31, 2017 April 1, 2016, Three months ended Six months ended March 31, 2017 April 1, 2016 March 31, 2017 April 1, 2016 Numerator: Net loss $ (2,349 ) $ (5,371 ) $ (2,728 ) $ (7,650 ) Denominator: Weighted average shares outstanding Basic 13,224 13,224 13,224 13,224 Effect of dilutive securities 0 0 0 0 Diluted 13,224 $ 13,224 13,224 13,224 Loss per common share - basic and diluted: Basic and diluted loss per share $ (0.18 ) $ (0.41 ) $ (0.21 ) $ (0.58 ) |
Note 5 - Income Taxes
Note 5 - Income Taxes | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 5—INCOME Our income tax provision in our second 2017 $0.2 $0.1 second 2016. six March 31, 2017 April 1, 2016, $0.3 $0.1 2017 2016 third 2012 second 2017. |
Note 6 - Commitments and Contin
Note 6 - Commitments and Contingencies | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 6—COMMITMENTS 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 | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 7—SEGMENT 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 a similar 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 10% three six March 31, 2017 April 1, 2016. We conduct and manage our business globally and have reportable segments that operate in five Summarized financial information by country for the three six March 31, 2017 April 1, 2016 Three months ended Six months ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Revenues: United States $ 9,447 $ 11,130 $ 20,147 $ 22,965 Canada 2,235 2,559 4,146 4,445 North America 11,682 13,689 24,293 27,410 United Kingdom 3,358 3,884 7,664 8,864 Sweden 633 616 1,658 1,590 Japan 398 499 1,008 955 Total $ 16,071 $ 18,688 $ 34,623 $ 38,819 Gross profit: United States $ 3,914 $ 3,075 $ 8,562 $ 7,824 Canada 1,051 1,275 1,845 2,081 North America 4,965 4,350 10,407 9,905 United Kingdom 913 1,047 2,399 2,913 Sweden 294 286 890 831 Japan 269 346 709 657 Total $ 6,441 $ 6,029 $ 14,405 $ 14,306 March 31, September 30, 2017 2016 Total assets: United States 11,423 15,578 Canada 2,355 3,395 North America 13,778 18,973 United Kingdom 7,479 8,046 Sweden 2,465 2,688 Japan 1,333 1,900 Total $ 25,055 $ 31,607 |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 8—FAIR 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 using assumptions that market participants would use, including assumptions about nonperformance risk and credit risk. ASC 820 Level 1—Quoted Level 2—Observable Level 3—Unobservable 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 six March 31, 2017 April 1, 2016. |
Note 9 - Deferred Facilities Re
Note 9 - Deferred Facilities Rent and Other | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Deferred Facilities Rent and Other [Text Block] | NOTE 9—DEFERRED Deferred Facilities Rent and Other The following tables show details of the following line items in our consolidated balance sheets. Current Portion of Deferred Facilities Rent and Other March 31, September 30, 2017 2016 Deferred rent $ 520 $ 529 Capital lease 67 81 Reston lease liability 1,001 1,057 $ 1,588 $ 1,667 Deferred Facilities Rent and Other March 31, September 30, 2017 2016 Deferred rent $ 3,868 $ 3,808 Capital Lease 281 386 Reston lease liability 2,034 2,103 $ 6,183 $ 6,297 |
Note 10 - Recent Accounting Pro
Note 10 - Recent Accounting Pronouncements | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | NOTE 10—RECENT In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606) 2014 09”). August 2015, 2015 14 Revenue from Contracts with Customers (Topic 606): 2015 14”), 2014 09 one December 15, 2017. December 15, 2016. September 30, 2018 In November 2015, 2015 17, Income Taxes (Topic 740): 2015 17”). 2015 17 December 15, 2016. may 2015 17. September 30, 2017 In February 2016, 2016 02, Leases (Topic 842) 2016 02”). 12 2016 02 December 15, 2018, September 28, 2019 In March 2016, 2016 09, Compensation – Stock Compensation (Topic 718): 2016 09”). 2016 09 December 15, 2016, September 30, 2017. 2016 09 In August 2016, 2016 15, Statement of Cash Flows (Topic 230) 2016 15”). December 15, 2017, September 30, 2018 In November 2016, 2016 18, Statement of Cash Flows (Topic 230) 2016 18”). December 15, 2017, September 30, 2018 Other recent accounting pronouncements issued by the FASB (including the Emerging Issues Task Force), the American Institute of Certified Public Accountants and the SEC did not, or management believes will not, have a material impact on our present or future consolidated financial statements. |
Note 11 - Restructuring Activit
Note 11 - Restructuring Activity | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 11—RESTRUCTURING In September 2016, 81% $1.9 420, Exit or Disposal Cost Obligations, March 2017, $0.4 second 2017. March 31, 2017 40% March 31, September 30, 2017 2016 Balance at beginning of period $ 3,160 328 Additions: RTC cease-use charge 386 1,940 RTC Deferred rent liability 0 1,220 Accretion expense 81 23 467 3,183 Reductions: Rent payments net of deferred rent (592 ) (351 ) Balance at end of period $ 3,035 3,160 Such restructuring liability is recorded as part of Deferred Facilities Rent and Other in the consolidated balance sheet. |
Note 12 - Working Capital Line
Note 12 - Working Capital Line of Credit | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 12—WORKING On January 12, 2017, $3.0 85% Under the Financing Agreement, the Company is required to pay Action Capital (i) interest on the outstanding advances at a rate equal to the prime rate of Wells Fargo Bank, N.A. in effect on the last business day of the prior month plus 1.75%, 0.70% 0.25% 90 March 31, 2017, not |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 6 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 13 —SUBSEQUENT EVENTS We have evaluated all events subsequent to the balance sheet date of March 31, 2017 |
Note 3 - Asset Retirement Obl19
Note 3 - Asset Retirement Obligations (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Six months ended Twelve months ended March 31, 2017 September 30, 2016 ARO balance, beginning of period $ 1,369 $ 1,669 Accretion expense 32 76 Liabilities satisfied 0 (128 ) Settlement of ARO liability 0 (77 ) Foreign currency translation (37 ) (171 ) ARO balance, end of period $ 1,364 $ 1,369 |
Note 4 - Earnings (Loss) Per 20
Note 4 - Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Six months ended March 31, 2017 April 1, 2016 March 31, 2017 April 1, 2016 Numerator: Net loss $ (2,349 ) $ (5,371 ) $ (2,728 ) $ (7,650 ) Denominator: Weighted average shares outstanding Basic 13,224 13,224 13,224 13,224 Effect of dilutive securities 0 0 0 0 Diluted 13,224 $ 13,224 13,224 13,224 Loss per common share - basic and diluted: Basic and diluted loss per share $ (0.18 ) $ (0.41 ) $ (0.21 ) $ (0.58 ) |
Note 7 - Segment Reporting (Tab
Note 7 - Segment Reporting (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Three months ended Six months ended March 31, April 1, March 31, April 1, 2017 2016 2017 2016 Revenues: United States $ 9,447 $ 11,130 $ 20,147 $ 22,965 Canada 2,235 2,559 4,146 4,445 North America 11,682 13,689 24,293 27,410 United Kingdom 3,358 3,884 7,664 8,864 Sweden 633 616 1,658 1,590 Japan 398 499 1,008 955 Total $ 16,071 $ 18,688 $ 34,623 $ 38,819 Gross profit: United States $ 3,914 $ 3,075 $ 8,562 $ 7,824 Canada 1,051 1,275 1,845 2,081 North America 4,965 4,350 10,407 9,905 United Kingdom 913 1,047 2,399 2,913 Sweden 294 286 890 831 Japan 269 346 709 657 Total $ 6,441 $ 6,029 $ 14,405 $ 14,306 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | March 31, September 30, 2017 2016 Total assets: United States 11,423 15,578 Canada 2,355 3,395 North America 13,778 18,973 United Kingdom 7,479 8,046 Sweden 2,465 2,688 Japan 1,333 1,900 Total $ 25,055 $ 31,607 |
Note 9 - Deferred Facilities 22
Note 9 - Deferred Facilities Rent and Other (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Current Portion of Deferred Facilities Rent and Other [Table Text Block] | March 31, September 30, 2017 2016 Deferred rent $ 520 $ 529 Capital lease 67 81 Reston lease liability 1,001 1,057 $ 1,588 $ 1,667 |
Schedule of Long Term Portion of Deferred Facilities Rent and Other [Table Text Block] | March 31, September 30, 2017 2016 Deferred rent $ 3,868 $ 3,808 Capital Lease 281 386 Reston lease liability 2,034 2,103 $ 6,183 $ 6,297 |
Note 11 - Restructuring Activ23
Note 11 - Restructuring Activity (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | March 31, September 30, 2017 2016 Balance at beginning of period $ 3,160 328 Additions: RTC cease-use charge 386 1,940 RTC Deferred rent liability 0 1,220 Accretion expense 81 23 467 3,183 Reductions: Rent payments net of deferred rent (592 ) (351 ) Balance at end of period $ 3,035 3,160 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2017 | Jan. 12, 2017 | Sep. 30, 2016 | Apr. 01, 2016 | Oct. 02, 2015 | |
Retained Earnings (Accumulated Deficit) | $ (18,024) | $ (15,296) | |||
Cash and Cash Equivalents, at Carrying Value | $ 5,327 | $ 8,540 | $ 10,769 | $ 17,936 | |
Percentage of Increase (Decrease) in Number of Attendees | 1.60% | ||||
Action Capital [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000 | ||||
Percentage of Net Amount of Certain Customer Accounts Receivable | 85.00% | ||||
Subsequent Event [Member] | Action Capital [Member] | Line of Credit [Member] | Financing Agreement [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000 | ||||
Percentage of Net Amount of Certain Customer Accounts Receivable | 85.00% |
Note 2 - Stock-based Compensa25
Note 2 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Apr. 01, 2016 | |
Maximum [Member] | ||
Allocated Share-based Compensation Expense | $ 0.1 | $ 0.1 |
Note 3 - Asset Retirement Obl26
Note 3 - Asset Retirement Obligations - Liabilities Activity (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Apr. 01, 2016 | Sep. 30, 2016 | |
ARO balance, beginning of period | $ 1,369 | $ 1,669 | $ 1,669 |
Accretion on asset retirement obligations | 32 | $ 40 | 76 |
Liabilities satisfied | 0 | (128) | |
Settlement of ARO liability | 0 | (77) | |
Foreign currency translation | (37) | (171) | |
ARO balance, end of period | $ 1,364 | $ 1,369 |
Note 4 - Earnings (Loss) Per 27
Note 4 - Earnings (Loss) Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 650,000 | 650,000 | 850,000 | 850,000 |
Note 4 - Earnings (Loss) Per 28
Note 4 - Earnings (Loss) Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | |
Numerator: | ||||
Net loss | $ (2,349) | $ (5,371) | $ (2,728) | $ (7,650) |
Denominator: | ||||
Basic (in shares) | 13,224 | 13,224 | 13,224 | 13,224 |
Effect of dilutive securities (in shares) | 0 | 0 | 0 | 0 |
Diluted (in shares) | 13,224 | 13,224 | 13,224 | 13,224 |
Loss per common share - basic and diluted: | ||||
Basic and diluted loss per share (in dollars per share) | $ (0.18) | $ (0.41) | $ (0.21) | $ (0.58) |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | |
Income Tax Expense (Benefit) | $ 176 | $ 59 | $ 252 | $ 144 |
Note 7 - Segment Reporting (Det
Note 7 - Segment Reporting (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | |
Number of Countries in which Entity Operates | 5 | 5 | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Number of Major Customers | 0 | 0 | 0 | 0 |
Note 7 - Segment Information -
Note 7 - Segment Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | |
Revenues: | ||||
Revenues | $ 16,071 | $ 18,688 | $ 34,623 | $ 38,819 |
Gross profit: | ||||
Gross Profit | 6,441 | 6,029 | 14,405 | 14,306 |
UNITED STATES | Continuing Operations [Member] | ||||
Revenues: | ||||
Revenues | 9,447 | 11,130 | 20,147 | 22,965 |
Gross profit: | ||||
Gross Profit | 3,914 | 3,075 | 8,562 | 7,824 |
CANADA | Continuing Operations [Member] | ||||
Revenues: | ||||
Revenues | 2,235 | 2,559 | 4,146 | 4,445 |
Gross profit: | ||||
Gross Profit | 1,051 | 1,275 | 1,845 | 2,081 |
North America [Member] | Continuing Operations [Member] | ||||
Revenues: | ||||
Revenues | 11,682 | 13,689 | 24,293 | 27,410 |
Gross profit: | ||||
Gross Profit | 4,965 | 4,350 | 10,407 | 9,905 |
UNITED KINGDOM | Continuing Operations [Member] | ||||
Revenues: | ||||
Revenues | 3,358 | 3,884 | 7,664 | 8,864 |
Gross profit: | ||||
Gross Profit | 913 | 1,047 | 2,399 | 2,913 |
SWEDEN | Continuing Operations [Member] | ||||
Revenues: | ||||
Revenues | 633 | 616 | 1,658 | 1,590 |
Gross profit: | ||||
Gross Profit | 294 | 286 | 890 | 831 |
JAPAN | Continuing Operations [Member] | ||||
Revenues: | ||||
Revenues | 398 | 499 | 1,008 | 955 |
Gross profit: | ||||
Gross Profit | $ 269 | $ 346 | $ 709 | $ 657 |
Note 7 - Segment Information 32
Note 7 - Segment Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Assets | $ 25,055 | $ 31,607 |
UNITED STATES | Continuing Operations [Member] | ||
Assets | 11,423 | 15,578 |
CANADA | Continuing Operations [Member] | ||
Assets | 2,355 | 3,395 |
North America [Member] | Continuing Operations [Member] | ||
Assets | 13,778 | 18,973 |
UNITED KINGDOM | Continuing Operations [Member] | ||
Assets | 7,479 | 8,046 |
SWEDEN | Continuing Operations [Member] | ||
Assets | 2,465 | 2,688 |
JAPAN | Continuing Operations [Member] | ||
Assets | $ 1,333 | $ 1,900 |
Note 9 - Deferred Facilities 33
Note 9 - Deferred Facilities Rent and Other - Current Portion of Deferred Facilities Rent and Other (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Deferred rent | $ 520 | $ 529 |
Capital lease | 67 | 81 |
Current portion | 1,588 | 1,667 |
Reston [Member] | ||
Lease liability | $ 1,001 | $ 1,057 |
Note 9 - Deferred Facilities 34
Note 9 - Deferred Facilities Rent and Other - Deferred Facilities Rent and Other (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Deferred rent | $ 3,868 | $ 3,808 |
Capital Lease | 281 | 386 |
Deferred | 6,183 | 6,297 |
Reston [Member] | ||
Reston lease liability | $ 2,034 | $ 2,103 |
Note 11 - Restructuring Activ35
Note 11 - Restructuring Activity (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | |
Restructuring Charges | $ 386 | $ 0 | $ 386 | $ 0 | |
Reston Town Center Facility [Member] | |||||
Restructuring and Related Activities, Renewed Sublease Surplus Space | 81.00% | ||||
Restructuring Charges | $ 1,900 | ||||
Subleased Surplus Space, Percentage | 40.00% | 40.00% |
Note 11 - Restructuring Activ36
Note 11 - Restructuring Activity - Restructuring Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Apr. 01, 2016 | Mar. 31, 2017 | Apr. 01, 2016 | Sep. 30, 2016 | |
Balance at beginning of period | $ 3,160 | $ 328 | $ 328 | ||
Additions: | |||||
Restructuring charge | $ 386 | $ 0 | 386 | $ 0 | |
Reductions: | |||||
Balance at end of period | $ 3,035 | 3,035 | 3,160 | ||
Facility Closing [Member] | |||||
Additions: | |||||
Restructuring charge | 467 | 3,183 | |||
RTC Cease-Use Charge [Member] | Facility Closing [Member] | |||||
Additions: | |||||
Restructuring charge | 386 | 1,940 | |||
RTC Deferred Rent Liability [Member] | Facility Closing [Member] | |||||
Additions: | |||||
Restructuring charge | 0 | 1,220 | |||
Accretion Expense 1 [Member] | Facility Closing [Member] | |||||
Additions: | |||||
Restructuring charge | 81 | 23 | |||
Rent Payments [Member] | Facility Closing [Member] | |||||
Reductions: | |||||
Reductions to restructuring reserve | $ (592) | $ (351) |
Note 12 - Working Capital Lin37
Note 12 - Working Capital Line of Credit (Details Textual) - Action Capital [Member] - USD ($) $ in Thousands | Jan. 12, 2017 | Mar. 31, 2017 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000 | |
Percentage of Net Amount of Certain Customer Accounts Receivable | 85.00% | |
Debt Instrument, Monthly Fee, Percentage of Outstanding Advances | 0.70% | |
Debt Instrument, Fee, Percentage of Maximum Aggregate Principle Amount | 0.25% | |
Debt Instrument, Fee Payment Period after Signing Agreement until Terminated | 90 days | |
Long-term Line of Credit | $ 0 | |
Prime Rate [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.75% |