PR Newswire
NEW YORK, Nov. 3, 2016
NEW YORK, Nov. 3, 2016 /PRNewswire/ -- Weight Watchers International, Inc. (NYSE: 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 | 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 Company's monthly commitment plans for its meetings business. | |||||||
*Except in the case of the financials attached to this release, "Net Income" refers to Net Income attributable to Weight Watchers International, Inc. |
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