Life Time Fitness Inc, ‘The Healthy Way of Life Company’, has today reported its financial results for the third quarter ended 30 September 2012.
- Third quarter 2012 revenue grew 11.1% to US$294.9 million.
- Total revenue for the first nine months of 2012 grew 11.7% to US$851.6 million.
- Net income for the quarter was US$32.1 million, or US$0.77 per diluted share; compared to net income of US$27.0 million, or US$0.66 per diluted share, for Q3 2011.
- Net income for the first nine months of 2012 was US$88.1 million, or US$2.10 per diluted share; compared to net income of US$72.8 million, or US$1.78 per diluted share, for the prior-year period.
“We saw continued earnings growth, cash flow and margin improvement in the third quarter, and are pleased with our revenue metrics, which were highlighted by double-digit growth in total revenue and in-centre revenue,” said Bahram Akradi, Life Time Chairman, President and CEO.
“We remain focused on building our Healthy Way of Life brand by making strategic investments in programs and services that we see as powerful opportunities to enhance our members’ experience, while driving membership acquisition and retention. Our business model is strong, and we are steadfast in our focus on driving long-term growth and success.”
Earlier this month Life Time made a commitment to reverse the destructive state of health, and poor levels of nutrition, in the US. Life Time has set out to influence a healthier nation with Commitment Day, a new initiative under way in early 2013.
The gym operator and events business has raised the stakes in tackling health issues and is on a mission to ‘drive the way we all think about healthier living.’
Life Time has a diverse portfolio – with a range of distinctive and large sports, professional fitness, family recreation and spa destinations. Today, the company operates 105 centres under the LIFE TIME FITNESS and LIFE TIME ATHLETIC brands in the United States and Canada.
During the quarter ended 30 September, the company completed the integration and rebranding activities associated with the acquired Lifestyle Family Fitness facilities. Additionally, Life Time expanded plans in connection with its previously announced acquisition of the Atlanta-based Racquet Club of the South by incorporating enhanced fitness and nutrition programs, services and membership opportunities as part of the overall renovation of the tennis complex.