Tuesday, May 5, 2009

Town Sports International Holdings, Inc. Announces First Quarter 2009 Financial Results

“Town Sports International Holdings, Inc. (‘TSI’ or the ‘Company’) (CLUB: 4.33, -0.04, -1.0%), a leading owner and operator of health clubs located primarily in major cities from Washington, DC north through New England, operating under the brand names ‘New York Sports Clubs,’ ‘Boston Sports Clubs,’ ‘Washington Sports Clubs’ and ‘Philadelphia Sports Clubs,’ announced its results for the first quarter ended March 31, 2009. 1st Quarter Overview:
-- Revenue during Q1 2009 increased 0.3% to $126.7 million.
-- Comparable club revenue decreased 2.1%.
-- Total member count was 518,000, increasing 6,000 or 1.2% compared to Q1 2008.
-- Membership attrition averaged 3.6% per month in Q1 2009 compared to 3.0% in Q1 2008.
-- Earnings per diluted share were $0.03 for Q1 2009.
-- Results included fixed asset impairment charges of $1.1 million, severance charges of $496,000, and $400,000 of early lease termination costs recorded in connection"


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