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Steiner Leisure Ltd. Reports Operating Results (10-Q)

August 09, 2010 | About:
10qk

10qk

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Steiner Leisure Ltd. (STNR) filed Quarterly Report for the period ended 2010-06-30.

Steiner Leisure Ltd. has a market cap of $562.54 million; its shares were traded at around $37.93 with a P/E ratio of 13.36 and P/S ratio of 1.15. Steiner Leisure Ltd. had an annual average earning growth of 11.7% over the past 10 years. GuruFocus rated Steiner Leisure Ltd. the business predictability rank of 4-star.STNR is in the portfolios of Diamond Hill Capital of Diamond Hill Capital Management Inc, Jim Simons of Renaissance Technologies LLC.
This is the annual revenues and earnings per share of STNR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of STNR.


Highlight of Business Operations:

Goodwill and intangibles is subject to at least an annual assessment for impairment by applying a fair value-based test. The impairment loss is the amount, if any, by which the implied fair value of goodwill is less than the carrying value. As of June 30, 2010 and December 31, 2009, we had goodwill of $117.6 million and $121.6 million, respectively, and unamortized intangibles of $27.0 million and $27.2 million, respectively.

Total revenues increased approximately 28.4%, or $33.4 million, to $151.0 million in the second quarter of 2010 from $117.6 million in the second quarter of 2009. Of this increase, $16.3 million was attributable to a increase in services revenues and $17.1 million was attributable to a increase in products revenues.

Spa Operations Segment Revenues. Spa Operations segment revenues increased approximately 19.9%, or $18.0 million, to $107.9 million in the second quarter of 2010 from $89.9 million in the second quarter of 2009. In addition, average weekly revenues for our land-based spas increased 25.8% to $27,530 in the second quarter of 2010 from $21,886 in the second quarter of 2009. These increases were primarily attributable to the acquisition of Bliss Inc. in December 2009. We had an average of 2,206 shipboard staff members in service in the second quarter of 2010, compared to an average of 2,054 shipboard staff members in service in the second quarter of 2009. Revenues per shipboard staff per day increased by 3.0% to $416 in the second quarter of 2010 from $404 in the second quarter of 2009. Average weekly revenues for our shipboard spas increased by 7.3% to $50,895 in the second quarter of 2010 from $47,443 in the second quarter of 2009. Excluding the acquisition of Bliss Inc., the increase in revenues and the key performance indicators referenced above were primarily attributable to some strengthening of the economy worldwide, resulting in increased spending by consumers at our spas.

Products Segment Revenues. Products segment revenues increased approximately 79.1%, or $14.4 million to $32.7 million in the second quarter of 2010 from $18.3 million in the second quarter of 2009. This increase is primarily attributable to the acquisition of Bliss Inc. in December

Read the The complete Report

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