What is in this article?:
- TSI Revenue Down for 2013, Announces BFX Studio Brand for 2014
- Winter Weather and BFX Studio
Town Sports International (TSI), New York, had slight decreases in revenue for both 2013 and fourth quarter 2013, according to financials released by the company.
Town Sports International (TSI), New York, had slight decreases in revenue for both 2013 and fourth quarter 2013, according to financials released by the company on Wednesday.
TSI revenue was $470.2 million in 2013, a 1.8 percent decrease from $479 million in 2012. In fourth quarter 2013, TSI revenue was $113.9 million, a 0.3 percent decrease from $114.2 million in fourth quarter 2012.
Net income for TSI in 2013 was $12.3 million, a slight increase from $12.0 million in 2012. In fourth quarter 2013, TSI had a net loss of $695,000 compared to a net loss of
TSI CEO Bob Giardina said the company had several accomplishments in 2013 in areas such as personal training, pricing improvements, system investments, capital structure improvements and the development of TSI's new brand, BFX Studio.
"While I cannot say we are satisfied with how we are finishing 2013 from a financial results standpoint, we are making progress positioning ourselves to benefit from the changes that are taking place in the fitness industry," Giardina said during a conference call with analysts.
TSI's total member count decreased by 10,000 to 497,000 in fourth quarter 2013 and decreased by 13,000 for the full-year 2013. Membership attrition averaged 3.4 percent per month in fourth quarter 2013 compared to 3.5 percent per month in fourth quarter 2012.
TSI expects its revenue for first quarter 2014 to be between $116.5 million and $117.5 million compared to $119.2 million for first quarter 2013. Net income for first quarter 2014 is expected to be between $0 and $250,000.