Aug 7, 2008 12:04 PM
Sports Club Co. Revenue Up
LOS ANGELES -- The Sports Club Co., Los Angeles, had a 4.1 percent increase in its second quarter revenue, according to a statement from the company. The company’s second quarter 2008 revenue was $16.4 million compared to $15.7 million for the second quarter of last year.
The company had a net loss, before preferred stock dividends, of $969,000, which included a one-time charge of $1.1 million for the impairment of certain real estate holdings that were being leased to an outside third party. Without that one-time charge, the company would have had net income, before preferred stock dividends, of $154,000.
For the first six months of the year, The Sports Club Co. had revenues of $32.3 million compared to $30.7 million for the first six months of last year. That was an increase of 5.2 percent.
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