Current Report Filing (8-k)
April 24 2014 - 9:01AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 24, 2014
Life Time Fitness, Inc.
(Exact name of Registrant as specified in its charter)
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Minnesota |
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001-32230 |
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41-1689746 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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2902 Corporate Place
Chanhassen, Minnesota |
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55317 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code (952) 947-0000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. |
Results of Operations and Financial Condition. |
On April 24, 2014, Life Time
Fitness, Inc. (the Company) reported its financial results for its fiscal quarter ended March 31, 2014. See the Companys press release dated April 24, 2014, which is furnished as Exhibit 99.1 and incorporated by
reference in this Current Report on Form 8-K.
The press release furnished as Exhibit 99.1 and certain information the Company
intends to disclose on the conference call scheduled for 10:00 a.m. eastern time on April 24, 2014 include a non-GAAP financial measure. The reconciliation of this measure to the most directly comparable GAAP financial measure is included in
the press release. In addition to the information in the press release under the heading Non-GAAP Financial Measure, the Company provides the following additional information about the Companys use of the non-GAAP financial measure
presented in the press release and on the conference call.
EBITDA. The Company believes EBITDA is useful to an investor in
evaluating the Companys operating performance and liquidity because:
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it is a widely accepted financial indicator of a companys ability to service its debt and the Company is required to comply with certain covenants and borrowing limitations that are based on variations of EBITDA
in certain of the Companys financing documents; and |
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it is widely used to measure a companys operating performance without regard to items such as depreciation and amortization, which can vary depending upon accounting methods and the book value of assets, and to
present a meaningful measure of corporate performance exclusive of the Companys capital structure and the method by which assets were acquired. |
The Companys management uses EBITDA:
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as a measurement of operating performance because it assists the Company in comparing its performance on a consistent basis; |
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in presentations to the members of the Companys board of directors to enable the board to have the same consistent measurement basis of operating performance used by management; and |
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as the basis for incentive bonuses paid to selected members of senior and center-level management. |
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Item 9.01. |
Financial Statements and Exhibits. |
The following Exhibit is being furnished herewith:
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99.1 |
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Press Release Announcing First Quarter 2014 Financial Results dated April 24, 2014. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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LIFE TIME FITNESS, INC. |
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Date: April 24, 2014 |
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By: |
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/s/ Eric J. Buss |
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Eric J. Buss |
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Executive Vice President and Interim Chief Financial Officer |
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EXHIBIT INDEX
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No. |
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Exhibit |
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Manner of Filing |
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99.1 |
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Press Release Announcing First Quarter 2014 Financial Results dated April 24, 2014. |
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Filed Electronically |
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