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Town Sports International Holdings Inc (CLUB) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

SEC Filings

Town Sports International Holdings Inc

CIK: 1281774 Ticker: CLUB


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

New York, NY - October 25, 2018 - Town Sports International Holdings, Inc. (“TSI”) (NASDAQ: CLUB) today reported results for the third quarter of 2018.
TSI’s earnings for the third 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 September 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
 
Third Quarter
 
2018
 
2017
Revenues:
 
 
 
Club operations
$
108,709

 
$
97,022

Fees and other
1,464

 
1,619

 
110,173

 
98,641

Operating Expenses:
 
 
 
Payroll and related
42,108

 
37,072

Club operating
50,107

 
46,087

General and administrative
6,700

 
5,380

Depreciation and amortization
9,188

 
9,874

Impairment of fixed assets
2,082

 
6,497

 
110,185

 
104,910

Operating loss
(12
)
 
(6,269
)
Interest expense
3,493

 
3,192

Interest income
(46
)
 
(36
)
Equity in earnings of investee
(79
)
 
(77
)
Loss before provision for corporate income taxes
(3,380
)
 
(9,348
)
Provision for corporate income taxes
562

 
3,928

Net loss
(3,942
)
 
(13,276
)
Net income attributable to non-controlling interests
4

 

Net loss attributable to Town Sports International Holdings, Inc. and subsidiaries
$
(3,946
)
 
$
(13,276
)
 
 
 
 
Loss per share:
 
 
 
Basic
$
(0.15
)
 
$
(0.53
)
Diluted
$
(0.15
)
 
$
(0.53
)
Weighted average number of shares used in calculating loss per share:
 
 
 
Basic
25,849,800

 
25,245,262

Diluted
25,849,800

 
25,245,262




The following information was filed by Town Sports International Holdings Inc (CLUB) on Thursday, October 25, 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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Inside Town Sports International Holdings Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Condensed Consolidated Statements Of Operations
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Details)
Acquisitions - Asset Acquisitions (Details)
Acquisitions - Schedule Of Net Assets Acquired (Details)
Acquisitions - Unaudited Pro Forma Results (Details)
Basis Of Presentation
Basis Of Presentation (Tables)
Basis Of Presentation - Narrative (Details)
Basis Of Presentation - Number Of Clubs (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Concentration Of Credit Risk
Concentration Of Credit Risk (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Details)
Derivative Financial Instruments (Tables)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Details)
Earnings (Loss) Per Share (Tables)
Fixed Asset Impairment
Fixed Asset Impairment (Details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Additional Information (Details)
Goodwill And Other Intangibles - Change In Carrying Amount Of Goodwill (Details)
Goodwill And Other Intangibles - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Details)
Long-Term Debt - Schedule Of Long-Term Debt (Details)
Mortgage And Term Loan
Mortgage And Term Loan (Details)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Policies)
Related Party
Related Party (Details)
Revenue
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Impact Of Asc 606 (Details)
Revenue - Narrative (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Employee Stock Purchase Plan (Details)
Stock-Based Compensation - Management Stock Purchase Plan (Details)
Stock-Based Compensation - Restricted Stock Awards (Details)
Stock-Based Compensation - Stock Grants (Details)
Stock-Based Compensation - Stock Option Awards (Details)
Subsequent Event
Subsequent Event (Details)

Material Contracts, Statements, Certifications & more

Town Sports International Holdings Inc provided additional information to their SEC Filing as exhibits

Ticker: CLUB
CIK: 1281774
Form Type: 10-Q Quarterly Report
Accession Number: 0001281774-18-000042
Submitted to the SEC: Thu Oct 25 2018 12:31:51 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Membership Sports And Recreation Clubs

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