Life Time Fitness, Chanhassen, MN, once again reached the $1 billion mark in revenue in 2012 as the company released its fourth quarter and year-end financials today.

Officially, Life Time generated $1.127 billion in 2012, an 11.2 percent increase from the $1.014 billion it had in 2011. Net income for the year was $111.5 million, or $2.66 per diluted share, compared to net income of $92.6 million, or $2.26 per diluted share, in 2011.

In fourth quarter 2012, Life Time generated $275.3 million, a 9.7 percent increase from $250.9 million in fourth quarter 2011. Net income for the quarter was $23.4 million, or $0.56 per diluted share, compared to net income of $19.8 million, or $0.48 per diluted share, for fourth quarter 2011.

Life Time Chairman, President and CEO Bahram Akradi said on today's call that the company reached double-digit percentage improvements in total revenue, in-center revenue (almost 13 percent), ancillary revenue (53 percent) operating income (20 percent) EBITDA (earnings before interest, taxes, depreciation and amortization, 19 percent), net income (more than 20 percent) and EPS (earnings per share, more than 17 percent).

"We are proud of these results," Akradi said on the call. "I want to thank all Life Time team members for all their effort in the past year. It is their passion and hard work that delivers the excellent member experience that is the foundation of our success all these years. To be exact, 2012 is a full 20 years we have driven strong growth in revenue, EBITDA and net income."

Memberships grew 1 percent to 682,621 on Dec. 31, 2012, from 676,054 on Dec. 31, 2011. Excluding memberships acquired in connection with Lifestyle Family Fitness (Life Time acquired nine clubs in 2011), memberships grew 2.4 percent. Membership dues revenue increased 9.7 percent from 2011 to 2012, Life Time reported.

"This speaks clearly to our long-term stated strategy of growing dues, something we have been doing consistently for almost 20 years," Akradi said. "We see no reason to believe we cannot continue this well into the future."