Exhibit 99.1
TOWN SPORTS INTERNATIONAL HOLDINGS, INC.
REPORTS SECOND QUARTER 2018 RESULTS

New York, NY - July 26, 2018 - Town Sports International Holdings, Inc. (“TSI”) (NASDAQ: CLUB) today reported results for the second quarter of 2018.
TSI’s earnings for the second quarter of 2018 are summarized below. To become fully apprised of our results, shareholders are urged to read our Form 10-Q for the quarterly period ended June 30, 2018 posted at https://www.townsportsinternational.com. The limited information that follows in this press release is not adequate for making informed investment decisions. The unaudited condensed consolidated Statements of Operations are included below.
Dollar amounts in this release are in thousands, except for share and per share amounts. Amounts are unaudited.
Condensed Consolidated Statements of Operations
 
Second Quarter
 
2018
 
2017
Revenues:
 
 
 
Club operations
$
111,047

 
$
98,392

Fees and other
1,282

 
1,601

 
112,329

 
99,993

Operating Expenses:
 
 
 
Payroll and related
42,396

 
37,058

Club operating
50,131

 
44,032

General and administrative
6,381

 
5,369

Depreciation and amortization
9,640

 
10,016

 
108,548

 
96,475

Operating income
3,781

 
3,518

Interest expense
3,338

 
3,155

Interest income
(45
)
 

Equity in earnings of investee
(78
)
 
(48
)
Income before provision for corporate income taxes
566

 
411

(Benefit) provision for corporate income taxes
(35
)
 
821

Net income (loss)
$
601

 
$
(410
)
Earnings (loss) per share:
 
 
 
Basic
$
0.02

 
$
(0.02
)
Diluted
$
0.02

 
$
(0.02
)
Weighted average number of shares used in calculating earnings (loss) per share:
 
 
 
Basic
25,844,061

 
25,238,291

Diluted
26,584,112

 
25,238,291




The following information was filed by Town Sports International Holdings Inc (CLUB) on Thursday, July 26, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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