Life Time Fitness posts double-digit growth

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Chanhassen, Minn.-based Life Time Fitness, Inc. reported Thursday its net income grew to $23.4 million in the fourth-quarter, according to RTTNews.com. That's an increase of 18 percent from $19.8 million during the same period last year.

Revenues for the quarter totaled $275.3 million, up nearly 10 percent from a year ago.

The health fitness firm earned $111.5 million in 2012, compared with $92.6 million a year earlier, according to the Star Tribune.

“For 2012, I am pleased to report double-digit growth in revenue, operating profit, net income, and earnings per share,” said Bahram Akradi, chairman, president and CEO, in a news release. "For 2013, we plan to open one new center in the first half of the year, our first in Alabama, and two in the second half, including one in Virginia and one in New Jersey. We also have initial plans to double our center openings in 2014, led by openings in New York and California early in the year.”

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