Oct 27 2010
The Sports Club Company, Inc. (Pink Sheets: SCYL) today announced financial results for the third quarter and nine months ended September 30, 2010.
Revenues from operations for the third quarter ended September 30, 2010 were $13,019,000 compared to $13,324,000 for the third quarter ended September 30, 2009, a decrease of $305,000 or 2.3%. After Preferred Stock dividends of $299,000 for the third quarter ended September 30, 2010 and the third quarter ended September 30, 2009, the net loss attributable to common stockholders for the third quarter ended September 30, 2010 was $478,000 or $0.02 per basic and diluted share, compared to a net loss attributable to common stockholders for the third quarter ended September 30, 2009 of $542,000 or $0.02 per basic and diluted share. The weighted average number of basic and diluted shares outstanding for the third quarter ended September 30, 2010 and third quarter ended September 30, 2009 was 21,907,000 shares.
Revenues from operations for the nine months ended September 30, 2010 were $39,682,000 compared to $41,449,000 for the nine months ended September 30, 2009, a decrease of $1,767,000 or 4.3%. After Preferred Stock dividends of $894,000 for the nine months ended September 30, 2010 and the nine months ended September 30, 2009, the net loss attributable to common stockholders for the nine months ended September 30, 2010 was $2,152,000 or $0.10 per basic and diluted share, compared to a net loss attributable to common stockholders for the nine months ended September 30, 2009 of $1,995,000 or $0.09 per basic and diluted share. The weighted average number of basic and diluted shares outstanding for the nine months ended September 30, 2010 was 21,907,000 shares compared to 21,818,000 shares for the nine months ended September 30, 2009.
All statements in this press release other than statements of historical fact are forward looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in this press release. The forward looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligations to release publicly, update or revise any forward looking statement contained herein if there are changes in the Company's expectations or if any events, conditions or circumstances on which any such forward looking statement is based.