Lifetime Fitness 2007 Annual Report Download - page 3

Download and view the complete annual report

Please find page 3 of the 2007 Lifetime Fitness annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

To Our Shareholders,
In 2007, Life Time Fitness delivered strong operational and financial results. Our sound value proposition
and unwavering commitment to provide nothing short of the highest quality services and products, and
unparalleled experience our members deserve, continued to generate positive results for our company.
Our nation is experiencing a significant health crisis with spiraling healthcare costs. In the face of this
alarming trend, we see an ever-increasing number of consumers seeking proactive solutions that allow them
to take charge of their own health and wellness. Such measures help adults and children alike face serious
challenges with weight, diabetes, heart disease and many other health issues. Within this environment,
Life Time Fitness is well positioned to support individuals seeking a healthy and active way of life as a result
of our unique centers, programming, services and team of certified and dedicated employees. In turn, this has
led to continued strong consumer acceptance of our company.
We remain true to our roots by delivering education, exercise and nutrition information, services and products
that help consumers establish – and maintain – results-oriented programs. Our commitment to members’
health, wellness and happiness is best reinforced by our brand promise: Feel Good Inside. Collectively, these
offerings, combined with our member service and connectivity measures, and value-oriented business model,
position us very well relative to others in the health and wellness sector – and in retail overall.
We are extremely committed to our service orientation as a company. So much so that we have adopted a
system that allows us to regularly test and measure customer loyalty. By continually reviewing and analyzing
our customers’ opinions, we have become ever more in tune with their wants and needs. This has allowed
us to establish an even stronger platform upon which to deliver an unmatched member experience, while
enhancing the impact of our current and future centers.
Since completing our initial public offering in 2004, we have delivered the financial results to which we
committed. 2007 was no exception. As we look ahead in 2008, we are not resting on these past achievements. In
spite of an ongoing challenging economy, we remain confident in our differentiated and disciplined business
model, and with our ability to implement operational enhancements that improve virtually every aspect of our
business. Through this, we remain focused on driving member experience, growth and shareholder value.
In 2008, we plan to open 11 centers, three of which will be located in new states for us. We also will continue
to invest in our existing centers, programming and services, nutritional products, the expansion of corporate
wellness opportunities and ongoing employee training and certification.
At Life Time Fitness, we continue to help people change their lives for the better. I could not be more excited
about our future. Thank you for your ongoing commitment to our company.
Sincerely,
Bahram Akradi
Chairman and Chief Executive Officer