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FULL-YEAR 2008 FINANCIAL RESULTS
|||Revenue during the quarter increased 3.4% to $122.9 million. For the full-year, revenues increased 7.1% to $506.7 million|
|||Comparable club revenue decreased 1.4% during the quarter but increased 2.2% for the full-year.|
|||Personal training revenues grew 4.3%, to $14.0 million during the quarter and 10.1%, to $61.8 million for the full-year.|
|||Membership attrition averaged 3.5% per month in Q4 2008 compared to 3.0% in Q4 2007 and totaled 40.2% for the full- year 2008 compared to 38.2% for the full-year 2007.|
|||Q4 2008 results include goodwill impairment charges of $17.6 million and fixed asset impairment charges of $1.9 million.|
|||Diluted loss per share for Q4 2008 was ($0.51), including ($0.66) related to goodwill and fixed asset impairment charges.|
|||A total of 1.8 million shares were repurchased during Q4 2008 under the repurchase program at a cost of $4.6 million. Since December 31, 2008, an additional 2.1 million shares were repurchased at a cost of $5.3 million.|
The following information was filed by Town Sports International Holdings Inc (CLUB) on Tuesday, March 3, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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