Town Sports International Reports Fourth Consecutive Quarter of Positive Growth

Town Sports International Holdings Inc. (TSI), Jupiter, Florida, reported second quarter 2018 revenue of $112.33 million, according to financials released by the company on July 30. This marks a 12.3 percent increase over last year's second quarter earnings of $99.99 million.

These results mark TSI’s fourth consecutive quarter of positive growth, after reporting five straight years of revenue decline from 2012 to 2016.

Since Patrick Walsh was named TSI's CEO in September 2016, the company has regained financial stability and grown its club portfolio through varied acquisitions including David Barton club concept TMPL, New York; Total Woman Gym + Spa, San Diego; and Lucille Roberts, New York.

In March 2018, Walsh told Club Industry that TSI's ongoing resurgence will “go down in history as one of the great turnarounds in American business.”

In May 2018, Walsh received the Entrepreneur Of The Year 2018 Award in the Transformational category in New York. He is now eligible for consideration in the Entrepreneur Of The Year 2018 national program, whose winners will be announced Nov. 10, 2018, in Palm Springs, California. 

For the quarter, TSI also reported $108.55 million in operating expenses, a 12.5 percent increase year-over-year. The company reported net income of $601,000 versus a loss of $410,000 during the same period in 2017. TSI's adjusted EBITDA for the quarter was $13.8 million versus $13.22 million last year.

In July 2017, TSI announced the company will no longer host conference calls to discuss quarterly results.

TSI ranked No. 7 on Club Industry’s Top 100 Health Clubs of 2018 list, reporting $403 million in 2017 revenue.