TSI's First Filing Shows Growth in Second Quarter

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New York — In its first filing since going public in June, Town Sports International (TSI) showed an 11.7 percent revenue growth in the second quarter of 2006. Second quarter revenue was $109.5 million, up from $98 million for the same period last year. Revenue for the first six months of 2006 grew 11.3 percent to $213.5 million from $191.8 million during the same period last year, and same-club revenue increased 8.2 percent during the second quarter of this year.

CEO Robert Giardina attributed the growth to the TSI's clustering strategy and to the management team.

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