SOKO Fitness & Spa Group, Inc. reported increases in sales and net income for the first quarter of fiscal 2011. The company also reported strong year over year and sequential increases in membership.
SOKO Fitness & Spa Group, Inc. reported sales of $9.1 million in the quarter ending August 31, 2010. This was a 42% increase from the first fiscal quarter of 2010.
SOKO Fitness & Spa Group, Inc. reported net income of $3.1 million, or $0.14 per diluted share, in the first quarter of fiscal 2010. The company had net income of $2.3 million, or $0.13 per diluted share, in the corresponding quarter of fiscal 2010.
SOKO Fitness & Spa Group, Inc. said that the company ended the quarter with 20,500 fitness club members in its network. This was a 40% year over year increase and a 13% sequential gain for the company.
Due to the strong quarterly results, SOKO Fitness & Spa Group, Inc. issued guidance for the fiscal year ending May 31, 2011. The company estimates that sales will be in a range of $38 to $42 million. This would represent an increase of 27% to 40% from fiscal 2010.
For more information on the company, go to www.sokofitness.com
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