Membership-based campground owner/operator Thousand Trails Inc. reports its net earnings soared 88% during the three months ended Dec. 31, the second quarter of its fiscal year 2002.
The Dallas-based firm earned $1.7 million during the October-through-December period, compared with $909,000 earned during the same period a year earlier.
Thousand Trails’ total revenue increased 13% during its second fiscal quarter to $19.3 million.
“We did not see the downturn in business that a lot of companies experienced after Sept. 11,” said Bill Shaw, president and CEO. “We originated $5.7 million in membership contracts in the second quarter, compared to $3.4 million a year earlier and our dues collections have remained steady (at $10 million during its second fiscal quarter).”
During the six months ended Dec. 31, Thousand Trails earnings increased 62% to $3.9 million and its total revenue climbed 12% to $45.2 million.
Thousand Trails has 116,000 members at 59 membership-based camping preserves in 17 states and British Columbia, Canada.