NEWINGTON, N.H. (AP) _ Planet Fitness Inc. (PLNT) on Wednesday reported fourth-quarter earnings of $10.6 million.
On a per-share basis, the Newington, New Hampshire-based company said it had net income of 18 cents. Earnings, adjusted for non-recurring costs, came to 20 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The fitness center operator posted revenue of $116.4 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $116 million.
For the year, the company reported profit of $21.5 million, or 50 cents per share. Revenue was reported as $378.2 million.
Planet Fitness expects full-year earnings in the range of 72 cents to 75 cents per share, with revenue in the range of $405 million to $415 million.
Planet Fitness shares have increased almost 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.85, a climb of 53 percent in the last 12 months.
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