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Weight Watchers Announces Second Quarter 2016 Results

NEW YORK, Aug. 4, 2016 /PRNewswire/ --

  • Revenues of $310 million and EPS of $0.46
  • North America business continues positive growth trend, with:
    • End of Period Subscribers up 9% year-over-year
    • Paid Weeks up 8% year-over-year
    • Revenues up 5% year-over-year
  • End of Period Subscribers up 9% year-over-year
  • Paid Weeks up 8% year-over-year
  • Revenues up 5% year-over-year
  • Global End of Period Subscribers up 5% year-over-year to 2.9 million
  • Global Operating Income up 5% year-over-year to $74 million
  • Full year 2016 EPS guidance range of $0.90 to $1.05
    • Reflecting expected revenue and profit growth for the second half and the full year
    • Incorporating an estimated benefit from an R&D tax credit of approximately $0.10 per share in Q3 2016
  • Reflecting expected revenue and profit growth for the second half and the full year
  • Incorporating an estimated benefit from an R&D tax credit of approximately $0.10 per share in Q3 2016

Weight Watchers International, Inc. (WTW) today announced its results for the second quarter of fiscal 2016 and updated its full year fiscal 2016 earnings guidance.

"Our second quarter represents our third successive quarter of year-over-year member recruitment growth, keeping us on-track to deliver revenue and profit growth for the full year 2016. We are encouraged by our transformation momentum and the solid foundation we are building for 2017 and beyond," said Jim Chambers, the Company's President and Chief Executive Officer.

Q2 2016 Consolidated Global Results

(in millions except percentages, per share amounts, and as noted)


Three Months Ended


% Change


% Change Adjusted for Constant Currency

July 2,

2016


July 4,

2015

Service Revenues, net


$251.6


$250.4


0.5%


1.2%


Product Sales and Other, net

58.2

59.4

(2.0)%

(1.1)%


Revenues, net

$309.8

$309.8

0.0%

0.7%


Operating Income

Adjustments


$73.7


$70.6


4.5%




4.9%







Restructuring Charges

-

0.2




Adjusted Operating Income

$73.7

$70.8

4.1%

4.6%


Net Income*

$30.5

$27.9

9.4%

10.2%

EPS

$0.46

$0.49

(5.2)%

(4.5)%

Total Paid Weeks


41.1


39.5


4.2%

N/A


Meeting(1) Paid Weeks


18.5


17.6


5.5%

N/A


Online(2) Paid Weeks


22.6


21.9


3.1%

N/A


End of Period Subscribers(3) (in thousands)


2,937.0


2,797.9


5.0%

N/A


Meeting Subscribers (in thousands)


1,262.8


1,184.9


6.6%

N/A


Online Subscribers (in thousands)


1,674.2


1,613.0


3.8%

N/A


Total Attendance (in millions)


9.0


8.6


4.5%

N/A


Note: Totals may not sum due to rounding.

See "Reconciliation of Non-GAAP Financial Measures" attached to this release for further detail on adjustments to GAAP financial measures.

(1) "Meetings" refers to monthly commitment plan subscribers, "pay-as-you-go" members, Total Access subscribers and other meetings members.

(2) "Online" refers to Weight Watchers Online...


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