Actionable news
0
All posts from Actionable news
Actionable news in WTW: WEIGHT WATCHERS INTERNATIONAL Inc,

Weight Watchers Announces Third Quarter 2016 Results

NEW YORK, Nov. 3, 2016 /PRNewswire/ -- Weight Watchers International, Inc. (WTW) today announced its results for the third quarter of fiscal 2016 and updated its full year fiscal 2016 earnings guidance.

"We've seen a great response to our fall campaign and in Q3 we achieved our highest year-over-year percentage growth in recruitment so far this year. We continue to see positive reactions to our Beyond the Scale program, and we look forward to generating even more interest in Weight Watchers with our upcoming winter marketing campaign featuring Oprah Winfrey," said Nick Hotchkin, the Company's CFO and Member, Interim Office of the CEO.

Ray Debbane, the Chairman of the Company's Board of Directors, stated, "The search for our next CEO is progressing well. We are pleased that the Members of the Interim Office of the CEO are deeply involved in the business and providing strong leadership during the transition. They, together with our management team, continue to advance the Company's transformation progress and momentum."

Q3 2016 Consolidated Results


Three Months Ended






_______________________
















% Change








Adjusted for

(in millions except percentages, per share

October 1,


October 3,




Constant

amounts, and as noted)

2016


2015


% Change


Currency

























Service Revenues, net

$232.6


$224.2


3.8%


4.8%

Product Sales and Other, net

48.2


49.2


(1.9)%


0.1%









Revenues, net

$280.8


$273.3


2.7%


4.0%









Operating Income

$66.8


$63.1


5.8%


6.7%









Adjustments
















Restructuring Charges

-


1.1













Adjusted Operating Income

$66.8


$64.2


4.1%


4.9%

Net Income*

$34.7


$21.8


59.1%


61.2%

EPS

$0.53


$0.38


38.3%


40.2%









Total Paid Weeks

38.0


35.5


6.8%


N/A

Meeting(1) Paid Weeks

17.0


15.8


7.7%


N/A

Online(2) Paid Weeks

21.0


19.8


6.1%


N/A

End of Period Subscribers(3) (in
thousands)

2,833.6


2,573.3


10.1%


N/A









Meeting Subscribers (in thousands)

1,218.4


1,104.0


10.4%


N/A

Online Subscribers (in thousands)

1,615.2


1,469.3


9.9%


N/A

Attendance

7.5


7.4


1.3%


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, Weight Watchers OnlinePlus, Personal Coaching and other digital subscription products.

(3) "Subscribers" refers to meetings members and Online subscribers who participate in recurring billing programs, such as the...


More