Life Time Fitness revenues up 10 percent
- Article by: Steve Alexander
- Star Tribune
- February 21, 2013 - 9:05 AM
Citing more than 10 percent revenue growth at its health clubs, Life Time Fitness Thursday reported fourth quarter and 2012 earnings that met Wall Street expectations.
Life Time Fitness earned $23.4 million, or 56 cents a share for the fourth quarter, slightly exceeding the 55 cent per share Wall Street consensus. A year ago, the company earned $19.8 million, or 48 cents a share.
Fourth-quarter revenue was $275.3 million, up 9.7 percent.
In the fourth-quarter, revenue from health clubs rose 12.5 percent, while membership dues rose 7.6 percent, the firm said.
For the year, the company earned $111.5 million, or $2.66 a share, which was in line with Wall Street forecasts. A year earlier, the firm earned $92.6 million, or $2.26 a share.
Full-year revenue was $1.1 billion up 11.2 percent.
Life Time plans to open a three new clubs this year in Alabama, Virginia and New Jersey. Initial plans are to open six new clubs in 2014.
Steve Alexander • 612-673-4553
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