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Exhibit 99.1
Investor Contact: John Heller 952-229-7427 or ir@lifetimefitness.com
Media Contact: Jason Thunstrom 952-229-7435 or pr@lifetimefitness.com
FOR IMMEDIATE RELEASE
LIFE TIME FITNESS ANNOUNCES FOURTH QUARTER
AND FULL-YEAR 2012 FINANCIAL RESULTS
| For the Quarter, Revenue Grew 9.7%, Net Income Grew 18.1% and Diluted EPS was $0.56, up 16.2% |
| For the Year, Revenue Grew 11.2%, Net Income Grew 20.4% and Diluted EPS was $2.66, up 17.4% |
CHANHASSEN, Minn. (February 21, 2013) Life Time Fitness, Inc. (NYSE: LTM), The Healthy Way of Life Company, today reported its financial results for the fourth quarter and full year ended December 31, 2012.
Fourth quarter 2012 revenue grew 9.7% to $275.3 million from $250.9 million during the same period last year. Total revenue for the year grew 11.2% to $1.127 billion from $1.014 billion in 2011.
Net income for the quarter was $23.4 million, or $0.56 per diluted share, compared to net income of $19.8 million, or $0.48 per diluted share, for 4Q 2011. Net income for the year was $111.5 million, or $2.66 per diluted share, compared to net income of $92.6 million, or $2.26 per diluted share, in 2011.
For 2012, I am pleased to report double-digit growth in revenue, operating profit, net income, and earnings per share, said Bahram Akradi, chairman, president and chief executive officer. We also saw total-center revenue growth above 10%, along with solid revenue-per-membership and same-store-sales. Looking ahead, we are positioning our company for top-line growth through center expansion, new membership and programming initiatives, and expanded products and services. For 2013, we plan to open one new center in the first half of the year, our first in Alabama, and two in the second half, including one in Virginia and one in New Jersey. We also have initial plans to double our center openings in 2014, led by openings in New York and California early in the year.
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Life Time Fitness, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:
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Life Time Fitness, Inc. provided additional information to their SEC Filing as exhibits
CIK: 1076195
Form Type: 10-K Annual Report
Accession Number: 0001076195-13-000003
Submitted to the SEC: Thu Feb 28 2013 4:05:34 PM EST
Accepted by the SEC: Thu Feb 28 2013
Period: Monday, December 31, 2012
Industry: Membership Sports And Recreation Clubs