Town Sports Int'l (CLUB) Posts Q4 GAAP EPS of $3.47

Town Sports Int'l (NASDAQ: CLUB) reported Q4 EPS of $3.47, which may not compare with the analyst estimate of ($0.27). Revenue for the quarter came in at $100.8 million versus the consensus estimate of $102.7 million.

Member Count Adjustment:

We added 64,000 net members in the year ended December 31, 2015 compared to a net member loss of 13,000 in 2014. The ending member count of 541,000 included two adjustments decreasing the count during the year. In the third quarter we completed the conversion from our internally developed Club Management legacy system to a third-party developed software system which resulted in a one-time adjustment to our historical legacy member count of approximately 5,000 members. We believe this adjustment was non-revenue generated and therefore does not impact our consolidated financial statements. In addition there are approximately 2,000 members at one partly-owned club operating under a different brand name that were not included in the total member count as of December 31, 2015 however were included as of December 31, 2014 when the club was operating as a Washington Sports Club. We continue to account for this club as an equity investment.

For earnings history and earnings-related data on Town Sports Int'l (CLUB) click here.

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