Lifetime Fitness 2009 Annual Report Download - page 34

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29
For the Year Ended December 31,
2009 2008 2007 2006 2005
(In thousands, except per share, center and membership data)
Other Data:
Same center revenue – 13 month (5) ........... (3.1%) 2.8% 6.1% 7.3% 7.7%
Same center revenue – 37 month (5) ........... (7.5%) (2.8%) 0.8% 2.1% 2.2%
Average revenue per membership (6) ......... $ 1,414 $ 1,427 $ 1,360 $ 1,270 $ 1,171
Average in-center revenue per
membership (7) .......................................... $ 400 $ 414 $ 387 $ 351 $ 300
Annual attrition rate (8) ............................... 40.6% 42.3% 34.3% 34.6% 34.1%
EBITDA (9) ................................................ $240,933 $221,544 $197,696 $148,994 $120,393
EBITDAR (9) ............................................. $281,174 $248,919 $217,072 $162,718 $130,593
Capital expenditures (10) ............................ $146,632 $ 463,337 $ 415,822 $261,767 $ 190,355
Free cash flows (11) .................................... $ 39,571 ($280,271) ($273,616) ($135,915) ($82,403)
Operating Data (end of period) (12):
Centers open ................................................ 84 81 70 60 46
Memberships ............................................... 578,937 567,110 499,092 443,660 358,384
Center square footage (13) .......................... 8,459,540 8,109,359 6,832,814 5,802,627 4,077,918
Employees ................................................... 17,400 16,700 15,000 12,350 9,500
Margins:
Center operations ........................................ 39.5% 40.9% 42.5% 42.9% 44.6%
EBITDA (14) .............................................. 28.8% 28.8% 30.1% 29.1% 30.9%
EBITDAR (15) ............................................ 33.6% 32.3% 33.1% 31.8% 33.5%
Operating income ........................................ 17.8% 19.1% 21.0% 19.6% 20.8%
Net Income .................................................. 8.6% 9.3% 10.4% 9.9% 10.6%
Stock Information:
Total common shares outstanding ............... 41,410 39,613 39,138 36,817 35,571
Market price per share – high ...................... $ 32.05 $ 50.28 $ 65.09 $ 53.04 $ 40.70
Market price per share – close .................... $ 24.93 $ 12.95 $ 49.68 $ 48.51 $ 38.09
Market price per share – low ....................... $ 7.07 $ 8.03 $ 45.89 $ 37.17 $ 23.82
Price / earnings ratio at year-end –
diluted ........................................................ 13.6 7.1 27.9 35.4 33.7
Market capitalization (16) .......................... $1,032,351 $512,988 $1,944,376 $1,785,993 $1,354,899
(1) In-center revenue includes revenue generated at our centers from fees for personal training, dieticians, group
fitness training and other member activities, sales of products offered at our LifeCafe, sales of products and
services offered at our LifeSpa, tennis and renting space in certain of our centers.
(2) Total operating expenses in 2008 includes expenses totaling $5.0 million associated with plans to slow the
development of new centers. These expenses include severance costs, lower-of-cost-or-market adjustments in
connection with assets held for sale and write-offs associated with land development cancelled in the fourth
quarter of 2008.