Life Time Fitness Q3 Profit Climbs

Life Time Fitness Inc. (LTM: Quote) reported net income of $32.1 million or $0.77 per share for the third quarter versus $27 million or $0.66 per share last year.

Quarterly revenues grew to $294.9 million from $265.4 million in the same quarter a year earlier.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share on revenues of $296.72 million for the quarter. Analysts’ estimates typically exclude special items.

Looking forward, the company updated 2012 outlook. Net income is expected to be up 24-25%, or $114.5-116 million from $113.0-116.0 million, driven by revenue growth and cost efficiencies. Earnings per common share is expected to be $2.73-2.76 from $2.70-2.76, which includes $0.04 impact of anticipated performance share-based compensation expense. Revenue is expected to be up 11-12%, or $1.127-1.137 billion (from $1.122-1.137 billion), driven primarily by price and mix optimization, square footage expansion, and growth in in-center and ancillary business revenue.

Analyst expect the company to earn $2.77 per share on revenues of $1.13 billion for the year.