Fiscal year 2002 net earnings at membership-based campground owner/operator Thousand Trails Inc. soared 95% higher, the Frisco, Tex.-based company reported today.
Thousand Trails earned $8.3 million during the 12 months ended June 30, compared with $4.3 million earned a year earlier.
The company’s sales revenue increased 12% to $88.8 million.
“We didn’t suffer like many companies in the travel and leisure industries this year,” said Bill Shaw, Thousand Trails’ president and CEO.
The company’s total sales increased because of a 20% increase in membership contract originations, higher ancillary revenues at campgrounds and higher revenues from additional properties managed by a subsidiary.
Thousand Trails has 112,000 members at 59 membership-based camping preserves in 17 states and British Columbia, Canada. Through subsidiaries, it provides a reciprocal use program for members of around 280 recreational facilities and manages 240 public campgrounds for the U.S. Forest Service.