highlights our Chris. fourth results, afternoon, of by Thanks, our Good discuss the I'll everyone. full-year XXXX details and from quarter begin XXXX reviewing outlook.
the revenue $XXX.X million total quarter X.X% For year the million to prior from increased $XXX.X in fourth XXXX, period. of
the segment from net X.X%, X.X% sales driven comp being sales store Approximately member same-store growth, same-store and by Total corporate from our balance increase QX XX% system increased increased wide growth. and our franchise sales same-store a with rate perspective, X.X%. of was increased
penetration card combined two The joins. The drove by XXX our rate the XX.X% over approximately of impact from the growth with system-wide basis year price with same-store pricing growth basis driven was the increase past black prior sales. the increase was XXX to card for years. by pricing black card new mostly in driven in compared points higher rate increases points The black card period
Our revenue in period. $XX.X segment an XX.X% prior year the $XX.X Franchise million, from million increase of was
break membership which of was down membership the for $XX.X and on annual fees. the revenue Royalty drivers Let monthly dues, quarter. million, consist royalties me
drivers. million of an same of in quarter royalty last revenue three to of This compares XX.X%. This had the increase year-over-year increase $XX.X year,
compared year. last quarter First, franchise we stores same ended the the with period to more XXX
Second, as X.X% average and by royalty sales franchise our higher then overall rate. a increased third, same-store I mentioned,
For royalty the X.X%, at up driven more by year. royalty quarter, X.X% year, last rate period average was compared the stores same fourth to from rates period in higher last the same the
sale fees our stores franchise other period. system. from us million paid Next, to and the dues for transfer and and member online of of agreements, development area to processing existing of received franchise $X.X point from in compared received prior through fees million $X.X signups. the agreements, recognition the are our The These to new fees fees year were
the segment Also, to assembly placement within sales million the franchise of revenue, fourth on our and compared to was for equipment are franchise receive These $X.X a $X.X within million our year-ago. is quarter placement fees which U.S. stores revenue, we in
was Finally, national million to compared revenue last fund advertising $X.X year. $XX.X
million store The $X.X since revenue of million million in $XX.X Our corporate corporate of to year from revenue million from higher due five sales same-store $X.X acquired million X.X%, of the or an increased million. of annual last increase of $X.X the quarter third fee increased was prior $XX.X XX.X% increase owned end period. owned owned in the segment dollar opened and corporate stores contributing year, to revenue
million segment, to from Equipment sales franchise time due our million. stores. $X.X equipment million last revenue by equipment Replacement replacement $XX $XX.X XX% to compared to the quarter, owned The decrease sales X.X% in XX% of total lower sales year. same primarily to the during or equipment Turning to existing was decreased were
replacement year For year, XX% XX% and the to total than sales of XX% year. were previous full than equipment compared were last equipment higher sales
cost which was of $XX.X stores, franchise compared in by to sales primarily of which quarter, above. million X% the decrease equipment amounted new relates sales cost of existing million to Our as decrease owned $XX.X a and year-ago. direct during A discussed to to the revenue, driven equipment
a are which end associated expenses, XX increase to $XX.X stores associated driven since and primarily X $XX.X year. stores operation The costs stores, our to compared increased by last corporate year-ago. third the was new opened the quarter of acquired million Store with million of with owned
$XX.X SG&A million quarter was for million the to $XX.X year-ago. a compared
$XX.X percent million, XX basis points fund by expense quarter. and For SG&A our offsetting the by NAP the advertising a approximately in revenue revenue National was points. the as for we the basis XXX aforementioned approximately generate quarter, of we full-year leveraged
compared of income $XX.X million year prior operating for income XX.X% increased operating the to period. in the $XX.X Our quarter million to
increased margins While to operating XX.X%. basis XXX points
year. rate Our was prior XX%, tax to XX.X% GAAP in the effective for compared the quarter
call. As level approximately be would and XX.X%, the non-controlling I the taxed at what of the because points Fitness not before, Planet XX tax appropriate up we've the discussed attributable from on rate and income last interest stated income corporate to adjusted basis
quarter fourth or compared attributable to $XX.X the for was or $X.XX income diluted Inc. basis per Fitness of XXXX, $XX.X prior period. GAAP in million per Inc. Planet of net net attributable a to On $X.XX the diluted income share Planet share million, Fitness year to
Net prior million in $X.XX year compared share net $XX.X income $XX.X with XX.X%. increase year-ago. compared a On $X.XX XX.X%. was diluted an was million $XX.X to in million period, net million income income an was diluted Adjusted share period, adjusted of to the increase basis, compared prior of $XX.X the year an per per
XXXX and income net today’s adjusted respectively. expenses quarter a net and been of of provided net We’ve normalized release. XX.X%, of fourth in XXXX, adjusted nonrecurring to for income to has the earning XX.X% GAAP tax reflect exclude income Adjusted reconciliation rate a and
million net XX% of as defined is considered other amortization, $XX.X the from interest, adjusted to performance certain for million the not also depreciation to get adjusted non-cash operating which in and in that reconciliation in year increased EBITDA of A before be earnings evaluation ongoing are release. prior of items found net period. and income impact income EBITDA the can taxes, $XX.X Adjusted the
By segment.
XX.X% to X.X%, the and royalty from a franchise overall of by $XX.X as stores, royalties an received as average not increase Our driven sales increased owned franchise included owned same-store same-store in sales Franchise rate. higher million, well segment base EBITDA additional in
store and million, last points the basis opened to $XX.X since higher driven adjusted to segment franchise Corporate end annual the increased fees, corporate same-store X.X% sales, of by owned stores third increase EBITDA year. segment the of quarter XX.X%. in margins XX EBIDTA acquired stores Our X.X% the nine increased approximately new
adjusted EBITDA by increased XX.X%. approximately basis to corporate store segment points XX Our margins
versus decreased segment by lower sales driven X.X% $XX.X Our a existing EBITDA million, equipment owned equipment stores replacement to to year-ago. franchise
Our XXX equipment margins points EBITDA increased basis adjusted to XX.X%. segment by approximately
XXXX top highlights -- X.X% the store for increase on me summarize XX.X%. X.X%. wide to year, of sales Turning increased full up were XX.X%, stack Revenue let increased quickly same-store comp sales for XX.X% the stores a a in of system XXXX. same Corporate X-year
placed rate stores to royalty for increased a sales XX%. X.X%. increased equipment points XX replacement basis Our new We in the equipment record year and million $XXX average
We increased share Our shares was stock retired XX.X% and per diluted our EBITDA and adjusted of to Class million X.X A bought up income $XXX.X adjusted XX.X%. million. common back net
sheet. Now, balance turning the to
As of our transactions December XXXX, compared XX, December a of equivalents structure. throughout had and XXXX capital overall million cash million that announced to on $XXX.X few XX, we cash impacted XXXX. We $XXX.X
In December, we million approximately net $XX transaction this transaction, related financing completed to expenses proceeds additional of which transaction issuance from After the the $XXX of in million. XX-year securitized an notes. million, resulted approximately of $XXX the were
was billion financing deferred long-term XX, Total excluding $X.XX December at cost XXXX. debt
leverage the would in capital Xx EBITDA. adjusted structure appropriate gross As be range to the previously Xx of I've targeted the we ratio stated, for a believe company
upon business, for our This light and of runway is continued generation flow model based the cash long growth. the asset our free
leverage Our on to approximately authorization closed the Shifting QX adjusted in XX/XX/XXXX activity, of to repurchase gross out trailing months as debt basis share X.Xx. XXXX. we of share repurchase a XX EBITDA ratio XXXX our was
million conclude in Board announced approved expect $XXX in entered previously XXXX. agreement, a we to we December. of announced share we the accelerated repurchase QX program. In repurchase new that which $XXX million As into share November, a
and For share we on million $X.X the remaining three $XXX $XXX purchase XXXX authorization. year, million utilized million, shares repurchase our have
total approximately in million $XXX XXXX we XX With or including respect acquired during XX investing to $XX in was the included our spend in which stores used million, year, the franchise December. activities, cash net
stores, Additionally, I.T. in and corporate equipment. for X approximately on $X for new million investments existing including in $XX replacement we infrastructure $XX incurred opened million approximately We $XX stores, million including on incurred XXXX million XXXX. our
our outlook. to Now
the the December levels, stores. approximately of new ended revenue by XX, currently driven increase XXXX sales approximately and approximately placement year to over growth equipment the of in we same-store For expect XXXX, XX% X% XXX
terms will of new to placements with approximately lower quarterly expect equipment flat be up. to QX, to different cadence, slightly we In new XXXX stores XX to XXXX. than see by In quarter XX
becomes placement our through outlook. As equipment will XXXX, our line of sight we new update clearer
less Replacement than equipment XXXX. total are sales projected slightly in sales, to XX% of XX% with be compared equipment
the over drive in average levels black Additionally, XXX our XX XXXX to basis basis we approximately expect sales. and pricing rate royalty card points increase same-store increase approximately to expect an points
with adjusted respect to EBIDTA approximately earnings profitability, levels. grow to to and increase With currently adjusted expect share XX% we per XXXX approximately XX% compared
of XXXX adjusted includes Our $X.XX related transaction. to financing guidance earnings per the securitize approximately share dilution
Excluding expect approximately this share impact, increase we adjusted XX%. per to earnings
is expense expense shares share fully a of and million assumes income. additional $XX interest of on XX.X in of consisting interest $XX approximately million diluted million interest based repurchases share no guidance This million and in and $XX includes net count
additional owned infrastructure approximately $XX approximately stores with on eight XXXX, For compared million we acquisitions million spin and investments. $XX approximately to million, XXXX $X of includes anticipate approximately planned less including or no stores on IT expenditures XXXX to new CapEx be corporate corporate
to questions. I'll now the for call the back turn operator
