Planet Fitness Inc. said its normalized net income for the fourth quarter amounted to $536,880, a fall of 94.0% from $9.0 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 0.5% from 9.3% in the year-earlier period.
Total revenue rose 10.2% year over year to $105.8 million from $96.0 million, and total operating expenses came to $77.1 million, compared with $76.4 million in the year-earlier period.
Reported net income totaled a loss of $293,000, or a loss of 1 cents per share, compared to income of $13.8 million in the prior-year period.
For the year, the company's normalized net income totaled $10.6 million, a fall of 61.3% from $27.3 million in the prior year.
Full-year total revenue increased 18.1% on an annual basis to $330.5 million from $279.8 million, and total operating expenses rose 19.1% year over year to $258.4 million from $216.9 million.
The company said reported net income fell 88.8% year over year to $4.1 million, or 11 cents per share, in the full year, from $36.8 million.