Town Sports International Holdings soars 29% after swinging to Q1 profit
Town Sports International Holdings, Inc. (Nasdaq:CLUB) shares are soaring 29% after the fitness club operator reported late Thursday that it swung to a first-quarter profit of $4.8 million, or $0.18 per share, versus a loss of $3.8 million, or $0.15 per share, a year earlier. During the same period of 2007, Town Sports incurred a $12.5 million charge to pay off debt. Wall Street analysts expected earnings of $0.15 per share.
In Friday morning trading, CLUB shares are surging 29.48%, or $2.19, at $9.62. For detailed price information and recent news stories about Town Sports International Holdings, click CLUB.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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