The financial performance for the third quarter of fiscal 2011 together with the raising of the year��s earnings guidance was bared by Weight Watchers International (WTW) today. Total earnings were reported at just below $430 million, which is about 30 percent higher when compared to the same period of the previous year, with total paid weeks increasing by over 38 percent and operating revenues increasing by nearly 53 percent.
Revenues on the North American meetings totaled almost $200 million, which represents an 25 percent increase from the previous year figures, with meeting paid weeks chalking by roughly the same margin. Earnings from the Internet segment were posted at $102 million, nearly 70 percent higher than the previous year, with Online paid weeks increasing by over 65 percent.
David Kirchhoff, President and CEO of Weight Watchers, took pride in the company��s third quarter 2011 performance, saying that management is pleased to come up with another strong quarter, and that it is thankful to see its investments going up to higher levels in consumer attention in the brand and unique approach to weight management.
There was a net income of $81 million for the third quarter of 2011, compared to only slightly over $44 million for the same period last year. The earnings per share (EPS) were pegged at $1.09, compared to $0.6 last year.
Weight Watchers stock has surpassed the long-standing resistance of $55 in the start of 2011, reaching an all-time high of $85.25 in May. The stock then fell back to $55, which started to act as a support in a complete compliance with the technical analysis theory, and is currently trading slightly below $72 level.
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