Fitness financials: Town Sports 4Q profit up, revenue flat; plus Wal-Mart earnings

Health club owner and operator Town Sports swung to a profit for the fourth quarter 2010 on flat revenues. Also, retailer Wal-Mart reported higher quarterly revenue and profit.
Author:
Updated:
Original:

Town Sports 4Q profit up, revenue flat

Town Sports International Holdings Inc. (NASDAQ: CLUB) swung to a profit for the fourth quarter 2010 on lower operating costs, but slightly lower revenue.

The New York-based owner and operator of health clubs in the Northeast and Mid-Atlantic reported a net income of $1.3 million, or $0.06 per share, for the fourth quarter, ending Dec. 31, 2010, compared to a net loss of $7.3 million, or $(0.33) per share during the same period a year ago.

A 14-percent drop in operating costs helped Town Sports reverse last year’s fourth-quarter loss, which included $12.3 million in impairment charges a year ago.

Fourth-quarter 2010 revenue at Town Sports was essentially flat – falling less than a percentage point to $114 million, compared to $114.3 million during the fourth quarter 2009. Comparable club revenue in the fourth quarter decreased 1.7 percent from a year ago.

“We ended the year with some positive momentum in the business for the first time in more than two years, including improvements in our comparable club revenue comparison, as well as our personal training and membership trends,” Town Sports CEO Robert Giardina said in a statement. “Our balance sheet has also improved from a year ago, and we believe our approach to the business is on track. We have a great team in place to execute our strategies.”

Full-year 2010 revenue at Town Sports came in at $462.4 million – down 4.7 percent from 2009, while comparable club revenue 4.3 percent during for the year. The company reported a net loss of $259,000, or $(0.01) per share in 2010, compared to net loss of nearly $5.7 million, or $(0.25) per share in 2009.

Total member count at Town Sports increased 1.4 percent to 493,000 at December 31, 2010, compared to December 31, 2009.

Looking ahead to the first quarter 2011, company officials project slightly lower revenue between $115.5 million and $116.5 million versus $117.8 million for the first quarter 2010. They expect net income between breakeven and $500,000, and earnings per share to be in the range of $0.00 per share to $0.02 per share.

The company expects to spend up to $10 million more in capital expenditures in early 2011, mostly related to two planned club openings in the second half of 2011.

Town Sports operates under the brand names of New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs.

Wal-Mart 4Q revenue, profit up

Wal-Mart Stores Inc. (NYSE: WMT) reported higher revenue and profit for its fiscal 2011 fourth quarter, ending Jan. 31, 2011.

The company reported quarterly revenue of $115.6 billion – up 2.5 percent from the same period a year ago. Wal-Mart’s quarterly income from continuing operations rose to $5 billion, compared to $4.8 billion a year ago.

For its full fiscal 2011 year, Wal-Mart reported revenue of $419 billion – up 3.4 percent from a year ago. Income from continuing operations rose to $15.4 billion, up from $14.4 billion last year.

Walmart’s revenue included a $664 million and a $4.5 billion currency exchange rate benefit for the quarter and fiscal year ended Jan. 31, 2011, respectively. The highest increases in revenue came from Brazil, Mexico, and China, the company said.

Revenue for Sam’s Club, excluding fuel, increased to $11.9 billion, an increase of 2.5 percent from last year’s fourth-quarter results. On the full year, net sales, excluding fuel, grew by 1.4 percent at Sam’s Club.

-- Compiled by David Clucas


For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on:www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related

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

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, ...read more

Fitness financials: Nautilus shares rise on analyst upgrade, plus Town Sports, Costco, Wal-Mart

Nautilus shares rise on analyst upgradeShares of Nautilus (NYSE: NLS) increased Jan. 8 after an analyst upgraded the stock, saying the company is less likely to miss sales estimates for the fourth quarter. Analyst Eric Wold of Merriman Curhan Ford upgraded Nautilus stock to ...read more

Fitness financials: Sports Club's Q2 revenue down 14 percent, plus GSI Commerce, Wal-Mart

Sports Club's Q2 revenue down 14 percent The Sports Club Co. (Pink Sheets: SCYL) reported a 14-percent drop in second-quarter revenues, but narrowed its loss. For the quarter ended June 30, revenues were $14.07 million compared to $16.36 million in 2008. Net loss for the ...read more

Financials09sm.jpg

Fitness financials: Dick’s Sporting Goods 4Q sales, profit up; IHRSA health club index up

Dick’s Sporting Goods 4Q revenue rises 13.6%, profit up 30% Dick's Sporting Goods, Inc. (NYSE: DKS) reported higher revenue and profit for its fiscal 2010 fourth quarter, and it released bullish guidance for 2011 on March 8. The Pittsburgh, Penn.-based sporting and fitness goods ...read more

timberland_logo.jpg

Outdoor financials: Timberland 4Q revenue, profit up on SmartWool, mens footwear

Improved North American wholesale activity in men’s footwear and growth in SmartWool apparel and accessories helped The Timberland Co. (NYSE: TBL) post higher revenue and profit for the fourth quarter 2010. The company posted quarterly sales of $491.1 million – up 26.7 percent ...read more

Fitness financials: Town Sports posts Q2 revenue increase, plus Big 5, Sports Club, Health Fitness

Town Sports posts Q2 revenue increases Second-quarter total revenue for Town Sports International Holdings (Nasdaq: CLUB) increased 8 percent driven by growth in membership and personal training revenue. Revenue for the quarter was $129.4 million versus $119.9 million the year ...read more

Financials09sm.jpg

Outdoor financials: Jarden’s outdoor sales up, but lagged in 4Q; plus Puma earnings beat expectations

Jarden Corp. (NYSE:JAH), parent company of Marmot, K2, Coleman and ExOfficio brands saw its outdoor sales gain in fourth quarter 2011, but the segment lagged overall company revenue growth and could weaken further in early 2012 due to the warm winter, officials said. The Rye, ...read more

Fitness financials: Nautilus stock drops 6 percent on analyst downgrade, plus Everlast, Crocs, Town Sports Int'l, adidas/Reebok, Foot Locker, Finish Line, Amer, Costco, Wal-Mart

Nautilus stock drops 6 percent on analyst downgradeAfter being downgraded from "buy" to "neutral" by Merriman Curhan Ford on March 3, shares of Nautilus (NYSE: NLS) fell $0.96, or 6 percent, to $15.14 in midday trading on the New York Stock Exchange, closing the day at $15.12. ...read more

Fitness financials: Town Sports Q4 profit surges more than five times, plus Accell Group, Iconix, adidas, Big 5, Stride Rite, Foot Locker, Finish Line, Health Fitness, Brunswick, Wal-Mart, Costco

Town Sports Q4 profit surges more than five timesTown Sports International (Nasdaq: CLUB) reported its fourth-quarter profit rose more than fivefold, reportedly driven by growing membership revenue and ancillary club revenue. Net income climbed to $6.6 million, or $0.25 per ...read more