Life Time Fitness, Inc. (NYSE: LTM) reported Q2 EPS of $0.76, $0.05 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $326.6 million versus the consensus estimate of $332.2 million.

The Company also announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to $200.0 million of its outstanding common stock.

“The second quarter was a challenging one for our company as we faced unexpected erosion of membership levels at some centers,” said Bahram Akradi, Life Time chairman, president and chief executive officer. “We believe the retention-focused initiatives we have previously introduced will positively affect membership levels over time. At the same time, I am pleased to report that, as a group, the five Life Time Athletic centers we have opened in 2014 have outperformed our financial expectations. Our current plans call for one additional Life Time Athletic center opening this year, and six new Life Time Athletic center openings in 2015. These openings, along with the expansion and improvement of our member-focused health, fitness, family recreation and sports programs, serve as the foundation of long-term growth for our Healthy Way of Life Company.”

For earnings history and earnings-related data on Life Time Fitness, Inc. (LTM) click here.