Fitness financials: Q4 profit up 41 percent for Life Time Fitness, plus Wal-Mart

Life Time Fitness said its quarterly profit rose 41 percent, and Wal-Mart Stores posted a 1.6-percent drop in U.S. same-store sales for the fourth quarter, though its profit and sales rose.
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Q4 profit up 41 percent for Life Time Fitness

Life Time Fitness (NYSE: LTM) said its quarterly profit rose 41 percent, helped by more revenue from membership dues and from in-center sales.

Quarterly profit rose 41 percent to $18.4 million, or $0.46 per share, from $13 million, or $0.33 per share last year.

Revenue rose 5 percent to $203.7 million from $194 million. Membership dues revenue rose 6 percent to $139.5 million and enrollment fees edged down 1 percent to $6.5 million. In-center revenue rose 7 percent to $54.2 million.

Revenue from same-center sales fell 4.7 percent during the quarter. Attrition was 10.8 percent, the same as the year-ago period.

"Our same-center revenue and attrition metrics remain key areas of focus, and we saw some improvement during the year, but we are not satisfied," said CEO Bahram Akradi in a statement. "In 2010, we will strive to improve both of these metrics."

For the year, net income was $72.4 million, or $1.82 per share, versus $71.8 million, or $1.83 per share. Revenue rose 5 percent to $203.7 million from $194 million.

Looking ahead, the company expects earnings of $1.85 to $1.95 per share in 2010, on revenue of $870 million to $895 million.



Wal-Mart reports drop in Q4 same-store sales


While its profit and sales rose in the fourth quarter, Wal-Mart Stores (NYSE: WMT) posted a 1.6-percent drop in U.S. same-store sales.

Same-store sales rose 0.7 percent at the Sam's Club warehouse division, but declined 2 percent at Wal-Mart stores. The company had forecast U.S. same-store sales to be flat, plus-or-minus 1 percent.

Profit for the fourth quarter that ended Jan. 31 rose to $4.63 billion, or $1.21 per share, from $3.79 billion, or $0.96 per share, a year earlier. Earnings per share, excluding a restructuring charge and a tax benefit, were $1.17.

Sales rose 4.6 percent to $112.82 billion versus $107.9 billion in the fourth quarter last year. Net sales for the fourth quarter included a currency exchange rate benefit of $1.9 billion, it said.

Net sales for the fiscal year were $405.0 billion, an increase of 1.0 percent over fiscal year 2009. On a constant currency basis, net sales for the fiscal year would have been $9.8 billion higher, increasing 3.4 percent to approximately $414.8 billion.

Earnings were $14.2 billion, or $3.66 per share, versus $13.5 billion or $3.42 per share in the prior year, an increase of 7.0 percent per share.

For the first quarter, Wal-Mart expects earnings per share of $0.81 to $0.85 from continuing operations. For this fiscal year, it forecasts earnings per share of $3.90 to $4.00.



--Compiled by Wendy Geister

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