Exhibit 99.1
For Release on February 22, 2011
TOWN SPORTS INTERNATIONAL HOLDINGS, INC. ANNOUNCES FOURTH QUARTER AND FULL-YEAR
2010 FINANCIAL RESULTS
New York, NY — February 22, 2011 — Town Sports International Holdings, Inc. (“TSI” or the “Company”) (NASDAQ: CLUB), 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 fourth quarter and full-year ended December 31, 2010.
Fourth Quarter and Full-Year Overview:
  Revenue decreased 0.2% in Q4 2010 compared to Q4 2009 and 4.7% in full-year 2010 compared with full-year 2009. Q4 2010 total revenue includes $2.7 million of personal training revenue recognized for expired and unused sessions in three of our jurisdictions.
 
  Comparable club revenue decreased 1.7% in Q4 2010 compared to Q4 2009 and 4.3% in full-year 2010 compared to full-year 2009.
 
  Total member count increased 1.4% to 493,000 at December 31, 2010, compared to December 31, 2009.
 
  Membership attrition averaged 3.4% per month in Q4 2010 and 3.5% per month in full-year 2010 compared to 3.6% per month in Q4 2009 and 3.8% per month in full-year 2009.
 
  Earnings (loss) per share was $0.06 in Q4 2010 and $(0.01) in full-year 2010 compared to $(0.33) in Q4 2009 and $(0.25) in full-year 2009.
 
  Q4 2010 results included $2.7 million of personal training revenue, or $1.5 million net of taxes, recognized for expired and unused personal training revenue, or approximately $0.07 per share. Q4 2009 results reflected internal use software and fixed asset impairment charges and the effect of an accounting error, which collectively resulted in charges, net of taxes, of $7.4 million, or $(0.33) per share.
Robert Giardina, Chief Executive Officer of TSI, commented: “We are very pleased with the progress we made in 2010, and how Town Sports is positioned as we enter 2011. 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. 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.”

 


The following information was filed by Town Sports International Holdings Inc (CLUB) on Tuesday, February 22, 2011 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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