TSI Postpones Release of Third Quarter Results

TSI Postpones Release of Third Quarter Results

Town Sports International (TSI), New York, which was scheduled to release its third quarter 2014 financials last week, postponed its announcement and conference call with analysts.

Town Sports International (TSI), New York, which was scheduled to release its third quarter 2014 financials last week, postponed its announcement and conference call with analysts.

The company said it is still analyzing accounting information related to its sale of its East 86th Street property in New York City. The price of the sale, which closed on Sept. 12, was about $85.5 million.

TSI said it would announce a rescheduled conference call date, which is expected to be no later than Nov. 11.

In other news, TSI President and COO Daniel Gallagher sold more than 4,400 shares of TSI stock on Monday valued at more than $27,000, according to a report by financial website InterCoolerOnline.com. Gallagher now owns more than 94,000 shares of stock valued at more than $575,000. Gallagher listed his title as chief financial officer in the filing with the Securities and Exchange Commission (SEC), even though he was promoted to his new titles earlier this year.

TSI did announce last week that it has upgraded its infrastructure with business applications from Oracle that are hosted on Oracle Database Appliance.

"To help keep our members fit and balanced, we must also maintain a healthy IT infrastructure and strong operations," Paul Barron, TSI's chief information officer, said in a statement. "By upgrading our Oracle Applications atop a streamlined, prepackaged Oracle Database Appliance, our organization is better equipped to keep our financials healthy and ensure our operations are in great shape."

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