XML 42 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Club operations $ 106,741 $ 114,164 $ 216,629 $ 228,644
Fees and other 1,555 1,533 3,091 2,956
Revenues 108,296 115,697 219,720 231,600
Operating Expenses:        
Payroll and related 46,137 44,762 92,997 89,335
Club operating 50,821 48,618 102,106 98,213
General and administrative 8,039 7,506 16,448 15,787
Depreciation and amortization 12,178 11,853 23,852 23,651
Impairment of fixed assets 1,014 890 2,151 4,513
Impairment of goodwill 31,558 0 31,558 137
Total operating expenses 149,747 113,629 269,112 231,636
Operating (loss) income (41,451) 2,068 (49,392) (36)
Interest expense 5,188 4,697 10,358 9,408
Equity in the earnings of investees and rental income (579) (639) (1,190) (1,240)
Loss before benefit for corporate income taxes (46,060) (1,990) (58,560) (8,204)
Benefit for corporate income taxes (14,992) (1,071) (14,728) (3,770)
Net loss $ (31,068) $ (919) $ (43,832) $ (4,434)
Basic and diluted loss per share $ (1.26) $ (0.04) $ (1.79) $ (0.18)
Weighted average number of shares used in calculating loss per share 24,590,759 24,291,375 24,503,624 24,226,271
Dividends declared per common share $ 0 $ 0.16 $ 0 $ 0.32