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LTM earnings action just like STX yesterday.

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October 22, 2009 – Comments (0) | RELATED TICKERS: LTM , STX

LTM beat and raised guidance just like STX did yesterday and the stock is tanking just like STX did yesterday. But Just like STX watch it rebound quickly.

 

* LTM Q3 EPS $0.51 vs est $0.48

* Raises FY EPS view to $1.78-$1.81

* Memberships increase 6 percent

* Revenue up 8 pct to $214.3 mln

Oct 22 (Reuters) - Life Time Fitness Inc (LTM.N) reported a third-quarter profit that topped Wall Street estimates, helped by a 6 percent growth in memberships, and raised its 2009 earnings outlook.

For the full-year, the fitness-club operator now expects to earn $1.78 a share to $1.81 a share, up from its earlier forecast of $1.65 to $1.75 a share, on revenue of $835 million to $845 million.

For the quarter ended Sept. 30, the company earned $20.6 million, or 51 cents a share, compared with $21.6 million, or 55 cents, last year.

Revenue rose 8 percent to $214.3 million with membership dues and total center revenue rising 10 percent and 8 percent, respectively.

Analysts on average were looking for earnings of 48 cents a share, on revenue of $215.2 million, according to Thomson Reuters I/B/E/S.

Shares of the Chanhassen, Minnesota-based company closed at $29.10 Wednesday on the New York Stock Exchange. (Reporting by Abhishek Takle in Bangalore; Editing by Ratul Ray Chaudhuri)

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