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04 December, 2023 10:00 IST
Weight Watchers International swings to first-quarter profit on a YOY basis
Source: IRIS | 14 Jun, 2017, 07.50PM

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Weight Watchers International, Inc. (WTW) swung to a net profit for the quarter ended Apr. 01, 2017. The company has made a net profit of $10.70 million, or $ 0.16 a share in the quarter, against a net loss of $10.80 million, or $0.17 a share in the last year period.      

Revenue during the quarter grew 7.23 percent to $329.10 million from $306.90 million in the previous year period. Gross margin for the quarter expanded 109 basis points over the previous year period to 49.86 percent. Total expenses were 90.82 percent of quarterly revenues, down from 95.57 percent for the same period last year. This has led to an improvement of 475 basis points in operating margin to 9.18 percent.

Operating income for the quarter was $30.20 million, compared with $13.60 million in the previous year period.

"Weight Watchers has delivered a very successful winter season, solidifying the Company‚Äôs return to growth," said Ray Debbane, Chairman of the Weight Watchers Board of Directors. "As the Company previously announced, I look forward to Mindy Grossman joining the Weight Watchers team and our Board of Directors in July. She is the right chief executive officer to empower the brand and unlock its full potential."

For fiscal year 2017, Weight Watchers International, Inc. expects diluted earnings per share to be in the range of $1.40 to $1.50.

Working capital remains negative
Working capital of Weight Watchers International, Inc. was negative $33.20 million on Apr. 01, 2017 compared with negative $173.65 million on Apr. 02, 2016. Current ratio was at 0.89 as on Apr. 01, 2017, up from 0.58 on Apr. 02, 2016.

Days sales outstanding went down to 4 days for the quarter compared with 8 days for the same period last year.

 

Debt comes down marginally
Weight Watchers International, Inc. has recorded a decline in total debt over the last one year. It stood at $
1,977.50 million as on Apr. 01, 2017, down 4.08 percent or $84.16 million from $2,061.66 million on Apr. 02, 2016. Total debt was 152 percent of total assets as on Apr. 01, 2017, compared with 159.76 percent on Apr. 02, 2016. Interest coverage ratio improved to 1.07 for the quarter from 0.45 for the same period last year.   Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]



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