Across the board, public club companies and manufacturers saw growth in their revenue this year.
Life Time Fitness, Chanhassen, MN, grew its revenue and its net income by 10.7 percent and 15.4 percent, respectively, in the first nine months of 2011 compared to the same period in 2010. Life Time also increased its revenue expectations for the year to $1 billion to $1.005 billion. The company opened three new clubs this year and plans to open three new clubs next year, including its first in Canada, as it also eyes expansion on the East Coast.
Town Sports International (TSI), New York, also saw revenue and net income increases for the first nine months of the year. TSI enjoyed its biggest leap in net income, going from a net loss of $1.6 million to $3.1 million. The company opened two new clubs in the fourth quarter of 2011 and is targeting three new opens in the second half of 2012.
Manufacturers enjoyed a prosperous year as well. Cybex, Medway, MA, increased net sales by 17 percent in the first nine months this year compared to the previous period. Johnson Health Tech Inc., Cottage Grove, WI, makers of Matrix Fitness, among other brands, had a sales increase of 27 percent for the first three quarters compared to the prior year's first three quarters. Brunswick Corp., Lake Forest, IL, parent company of Life Fitness and Hammer Strength, had a 14 percent growth in sales for those two brands in third quarter 2011, and its operating earnings are at their highest levels since 2006. Precor, Woodinville, WA, the fitness division of parent company Amer Sports, Helsinki, Finland, increased commercial business sales by 12 percent in third quarter 2011.