WEIGHT WATCHERS International has posted a US$12m year-on-year increase in revenue for the first quarter of 2006, mainly attributed to US sales as the company’s UK performance deteriorated.
Net revenues increased to $342m, from $330m in Q1 2005. Net income was up 10.5% on the prior period, at $57m, while fully-diluted earnings per share jumped 14.3% to $0.56.
Weight Watchers president and CEO said Linda Huett: “The first quarter saw continued strength in the US business, with double digit revenue growth. I am pleased with the company’s operating performance despite a decline in UK revenue as well as unfavourable currency exchange rates.”
The company reaffirmed its full-year 2006 earnings guidance of between $2.18 and $2.28 per fully diluted share.