ClubCorp Q3 Loss Narrows, Revenue Rises - Quick Facts

(RTTNews) - ClubCorp Holdings, Inc. (MYCC), a membership-based leisure business and owner-operator of private golf and country clubs, business, sports and alumni clubs, late Thursday said third-quarter net loss narrowed to $5.03 million from $12.4 million loss in the prior year. Adjusted EBITDAof climbed 9.3 percent to $41.6 million, largely due to improved segment EBITDA from the golf and country club segment and from $1.3 million of increased cash dividends.

Revenue incrased 8.2 percent to $194.8 million from $180 million, due to strong organic and acquisition growth in the golf and country club segment.

Further, the company issued full year 2013 adjusted EBITDA guidance in the range of $174.5 million to $176.5 million.

Eric Affeldt, CEO, said, "We continue to see strong performance in drivers underlying our guidance including membership counts that have grown compared to prior year and improved pace of private party bookings in advance of the holiday season compared to prior year. We are pleased with performance through the third quarter and anticipate 2013 revenue growth approximating 7.0% over 2012 as we are optimistic about a strong close to 2013."