Sports Club Co. Revenue Increases 2.9 Percent for Year
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LOS ANGELES -- Despite the recession, The Sports Club Co. Inc. had slightly higher revenue in fourth quarter 2008 and full year 2008 compared to the same periods in 2007, according to financial results released by the company last week.
Revenues from operations for the fourth quarter 2008 were $15.6 million compared to $15.5 million for the fourth quarter 2007.
Revenues from operations for 2008 were $63.4 million compared to $61.7 million for 2007, an increase of 2.9 percent.
The company had a net loss in the fourth quarter as well as full year 2008. Net loss in the fourth quarter, after preferred stock dividends, was $3.2 million compared to $2.93 million in the same period in 2007. For the year, the net loss after preferred stock dividends was $1.194 million compared to $1.193 million in 2007.
The Sports Club Co. operates The Sports Club/LA facilities and is traded on the Pink Sheets.
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