Aftermath of Hurricane Ike
September 15, 2008
To: Our Customers, Employees, Investors and Friends
From: Eric Langan
Re: Aftermath of Hurricane Ike
Hurricane Ike has come and gone from the Houston and Gulf areas. Our five clubs in the Houston market emerged from the storm largely unscathed, with the exception of some water damage at one location. More important, it appears that our personnel are all safe and sound.
Most of Houston is still without power and there is a curfew in effect for the remainder of the week. Our clubs remain closed at the moment, but once we get power back it is possible that we will be able to reopen during the week.
Many of our investors have asked about the impact of Hurricane Ike on our company’s financial performance. It is too early to say. However, it is important to note that the Houston market is now a relatively small portion of our overall company’s financial picture, accounting for less than 10% of our revenue and less than 5% of our net income.
Thank you all for your expressions of concern. We expect to have a full and speedy recovery from this terrible storm and we appreciate all your good wishes.