Life Time Fitness, Inc. (NYSE:LTM) today reported its operating results for the third quarter ended September 30, 2009.
Third quarter 2009 revenue grew 7.8% to $214.3 million from $198.8 million during the same period last year. Net income during the quarter was $20.6 million, or $0.51 per diluted share, versus $21.6 million, or $0.55 per diluted share, for 3Q 2008. For the nine months ended September 30, 2009, revenue grew 10.0% to $633.3 million from $575.7 million during the same period last year. Net income for the same period was $54.0 million, or $1.36 per diluted share, compared to $58.8 million, or $1.49 per diluted share, for the first nine months of 2008.
“During the third quarter, we expanded free cash flow delivery and saw our trailing 12-month attrition rate improve,” said Bahram Akradi, Life Time Fitness chairman and chief executive officer. “Moving forward, we will continue to focus on our member connectivity initiatives, prudent cost management and debt reduction.”