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TSI Lowers Expectations After Third Quarter Results

Published Friday, November 07, 2008

NEW YORK -- Town Sports International (TSI), New York, saw an increase in revenue during the third quarter 2008 but had a decrease in net income. The company is lowering its previous outlook for the year after growth in net members was weaker than anticipated. In third-quarter financials released last week, TSI’s total revenue increased 7.8 percent to $128.1 million in third quarter 2008 compared to $118.9 million in the same period last year. Total operating expenses increased 11 percent to $116.5 million from $105 million in the third quarter 2007. Net income for third quarter 2008 was ...

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