8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934
July 29, 2004
Date of Report (Date of earliest event reported)
STEINER LEISURE LIMITED
(Exact name of registrant as specified in its charter)
0-28972
(Commission File Number)
Commonwealth of The Bahamas	98-0164731
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
Suite 104A, Saffrey Square Nassau, The Bahamas	Not Applicable
(Address of Principal Executive Officer)	(Zip Code)
(242) 356-0006
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address; if changed since last report)

Item 7.  Exhibits

Exhibit 99 - Press Release of Steiner Leisure Limited dated July 28, 2004 reporting financial results for the quarter ending June 30, 2004.

Item 12.  Results of Operations and Financial Condition

This Form 8-K is furnished to comply with the SEC requirement that the earnings press release of the registrant be furnished to the SEC under cover of Form 8-K. Steiner Leisure's earnings press release for the first quarter ending June 30, 2004 was issued after the close of regular trading on the Nasdaq National Market on July 28, 2004.

The information in this Form 8-K, including the exhibit, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general language in such filing, unless it is specifically identified therein as being incorporated therein by reference.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

STEINER LEISURE LIMITED

Date: July 29, 2004	/s/ Leonard I. Fluxman
	Leonard I Fluxman
	President and Chief Executive Officer

EX-99

EXHIBIT 99

STEINER LEISURE LIMITED
Post Office Box N-9306
Suite 104A
Nassau, The Bahamas

For Release: IMMEDIATELY

Contact:    Leonard I. Fluxman, President and Chief Executive Officer (305) 358-9002, ext. 215

Steiner Leisure Limited Announces Record

Second Quarter 2004 Financial Results

NASSAU, THE BAHAMAS, July 28, 2004 - Steiner Leisure Limited (NASDAQ: STNR) today announced financial results for the second quarter ended June 30, 2004.

Steiner Leisure's revenues for the second quarter ended June 30, 2004 rose 26.1% to $83.0 million from $65.8 million during the comparable quarter in 2003. Income from continuing operations, before discontinued operations for the second quarter, was $8.4 million compared with $5.3 million for the same quarter in 2003.

Earnings per share before discontinued operations for the second quarter ended June 30, 2004 was $0.49 per share, compared with $0.32 per share for the comparable quarter in 2003. The earnings per share data are presented on a diluted basis.

Revenues for the six months ended June 30, 2004 rose 25.1% to $163.9 million from $131.0 million during the comparable six months in 2003. Income from continuing operations, before discontinued operations for the six months ended June 30, 2004 was $16.6 million compared with $10.5 million for the same six months in 2003.

Earnings per share before discontinued operations for the six months ended June 30, 2004 was $0.97 per share compared with $0.64 per share for the comparable six months in 2003. The above earnings per share data are presented on a diluted basis.

Leonard I. Fluxman, President and Chief Executive Officer of Steiner Leisure, commented "We are very pleased with our second consecutive quarter of record financial results. The results of the maritime business generally start slowly this quarter due to repositioning of certain ships to Alaska and the Mediterranean. This year we saw strength in the maritime business throughout the quarter. These results reflect solid execution in a leisure industry that continues to improve."

Steiner Leisure Limited is a worldwide provider of spa services. The Company's operations include spas and salons on 113 cruise ships, and in 66 resort spas and two luxury day spas. Our cruise line and land-based resort customers include Carnival Cruise Line, Caesars Entertainment, Celebrity Cruises, Crystal Cruises, Cunard/Seabourn Cruise Lines, Hilton Hotels, Holland America Line, Kerzner International, Marriott Hotels, Norwegian Cruise Lines, Princess Cruises and Royal Caribbean Cruises. Our Elemis Limited subsidiary manufactures its Elemis® brand products for use in our cruise ship and land-based spas. This top quality European line of beauty products is also distributed worldwide to exclusive hotels, salons, health clubs and destination spas. Elemis®, as well as other Steiner private label products, including La Therapie®, Ionithermie, and Steiner Hair Care, are available at www.timetospa.com.

Steiner Leisure also owns and operates three post secondary schools (comprised of a total of seven campuses) located in Miami, Fort Lauderdale, Orlando and Sarasota, Florida; Baltimore, Maryland; York, Pennsylvania and Charlottesville, Virginia. Offering degree and non-degree programs in massage therapy and skin care, these schools train and qualify spa professionals for health and beauty positions within the Steiner family of companies or other industry entities.

The Company will be holding a conference call at 11:00 am (EST) on Thursday, July 29, 2004. Clive E. Warshaw, Chairman of the Board, and Leonard I. Fluxman, President and Chief Executive Officer, will discuss the contents of this press release.

If you wish to participate in this conference call, please call (706) 679-5917 for domestic and international calls approximately ten minutes before the scheduled time. This call is available for replay from Thursday. July 29, 2004 (approximately 3 hours after the call takes place) until Thursday, August 5, 2004 at 5:00 pm. You may reach it by dialing (706) 645-9291 for both domestic and international calls. The conference ID # is 8787907.

SELECTED FINANCIAL DATA

($ in thousands, except per share data)

(Unaudited)

	Second Quarter Ended						Six Months Ended
	June 30,						June 30,
			2004		2003			2004		2003
Revenues:
Services		$	56,805	$	45,897	$		112,772	$	91,772
Products			26,223		19,935			51,161		39,225
Total revenues			83,028		65,832			163,933		130,997
Cost of Sales:
Cost of services			44,796		37,350			89,045		74,082
Cost of products			19,367		14,950			37,629		29,418
Total cost of sales			64,163		52,300			126,674		103,500
Gross profit			18,865		13,532			37,259		27,497
Operating Expenses:
Administrative			4,384		3,337			8,688		6,705
Salary and payroll taxes			4,856		4,197			9,683		8,417
Total operating expenses			9,240		7,534			18,371		15,122
Income from continuing operations			9,625		5,998			18,888		12,375
Other Income (Expense):
Interest expense			(600	)	(852	)		(1,254	)	(1,819)
Equity and minority interest			75		42			191		146
Other income			25		412			41		425
Total other income (expense)			(500	)	(398	)		(1,022	)	(1,248)
Income from continuing operations before provision for income taxes and discontinued operations			9,125		5,600			17,866		11,127
Provision for income taxes			671		309			1,284		642
Income from continuing operations before discontinued operations			8,454		5,291			16,582		10,485
Loss from discontinued operations (which includes loss on disposal of $ 2 and $ 7 and $715 and $1,548 for the three and six months ended June 30, 2004 and 2003, respectively), net of taxes			(25	)	(1,303	)		(97	)	(3,134)
Net income		$	8,429	$	3,988	$		16,485	$	7,351
Income (loss) per share-Basic:
Income before discontinued operations		$	0.51	$	0.32	$		1.00	$	0.64
Loss from discontinued operations			-		(0.08	)		-		(0.19)
		$	0.51	$	0.24	$		1.00	$	(0.45)
Income (loss) per share-Diluted:
Income before discontinued operations		$	0.49	$	0.32	$		0.97	$	0.64
Loss from discontinued operations			-		(0.08	)		(0.01	)	(0.19)
		$	0.49	$	0.24	$		0.96	$	(0.45)
Weighted average shares outstanding:
Basic			16,668		16,393			16,574		16,389
Diluted			17,360		16,503			17,154		16,484

STATISTICS

		Second Quarter Ended						Six Months Ended
		June 30,						June 30,
		2004			2003				2004			2003
Average number of ships served1:		109		100			108				101
Spa		75		65			74				65
Non-Spa		34		35			34				36
Average total number of staff on ships served:		1,454		1,282			1,438				1,283
Spa		1,228		1,049			1,212				1,049
Non-Spa		226		233			226				234
Revenue per staff per day2:	$	420	$	379		$	414			$	380
Spa	$	441	$	405		$	436			$	409
Non-Spa	$	306	$	265		$	296			$	254
Average weekly revenues:	$	39,183	$	34,058		$	38,728			$	33,800
Spa	$	50,558	$	45,803		$	50,065			$	45,872
Non-Spa	$	14,202	$	12,320		$	13,871			$	11,667
Average number of land-based spas operated3,4,5		52		48			52				48
Average weekly land-based spas revenues5	$	24,411	$	20,093		$	24,591			$	20,488
Total schools revenues6	$	4,328,000	$	4,165,000		$	8,874,000			$	8,335,000
Total wholesale and retail product revenues	$	6,568,000	$	4,888,000		$	13,356,000			$	8,884,000

_____________

1 Average number of ships served reflects the fact that during the period ships were in and out of service and,   accordingly, the number of ships served during the year varied.

2 Revenue includes all sales of services and products on ships. Staff includes all shipboard employees. Per day refers to    each day that a cruise ship is in service.

3 Excludes the effect of fourteen land-based resort spas that we operate through joint ventures in which we own a 49%    interest.

4 Average number of land-based day spas operated reflects the fact that during the period spas were opened or closed and, accordingly, the number of spas served during the period varied.

5 Includes resort spas and two spas formally referred to as "day spas" in prior statistical presentations.

6 Includes $211,000 and $150,000 for the three months ended June 30, 2004 and 2003, respectively, and $400,000 and $315,000 for the six months ended June 30, 2004 and 2003, respectively, relating to the Steiner training school near London, England.