Life Fitness, Rosemont, Illinois, increased its year-over-year net sales in the third quarter from $189 million in 2014 to $197.5 million in 2015.
Life Fitness' parent company, Brunswick Corporation, Lake Forest, Illinois, reported the sales numbers in Thursday's earnings release (read at the bottom of this page). Brunswick reported net sales of $991.9 million across all of its segments in the third quarter and operating earnings of $115.8 million.
Life Fitness' year-over-year third quarter net sales growth of 9 percent based on constant currency reflected gains in the United States at health clubs, and local and federal governments, according to the release. The United States accounted for 53 percent of Life Fitness' sales in the third quarter and reflected 14 percent year-over-year growth.
The European region accounted for 19 percent of total sales in the third quarter and grew 9 percent year-over-year. The rest-of-world region accounted for 28 percent of total sales in the third quarter and grew 1 percent year-over-year.
All of the regions benefited from new product introductions, according to Brunswick. The SCIFIT Systems acquisition in July contributed three percent to Life Fitness' year-over-year growth in the third quarter.
Life Fitness' third quarter operating earnings increased 1.8 percent year-over-year from $25.8 million in 2014 to $27.6 million in 2015. Higher sales, cost reductions and savings related to sourcing initiatives, and unfavorable foreign exchange impact were cited by Brunswick as key factors in the operating earnings. Life Fitness' third quarter operating margin was 14 percent.
Life Fitness' net sales were $556.9 million for the nine months ended Oct. 3, reflecting an 8 percent increase in constant currency over 2014. Operating earnings were $76.6 million for the nine months ended, reflecting a 2.1 percent increase.
Brunswick's retail bowling business (sold in September 2014) and bowling product business (sold in May 2015) are now reported as discontinued operations. As a result of those sales, the historical and future results of Brunswick's billiards business are now reflected in the Life Fitness segment.
Life Fitness was credited along with boating-related equipment for Brunswick's 6 percent year-over-year revenue increase in the third quarter. Brunswick's sales increased by 11 percent.
Brunswick stock (NYSE:BC) was trading up 4.94 percent at midday Thursday at $52.23 per share.