Weight Watchers International has reported second-quarter net profits up 68% to US$57.9m but cut its full-year earnings outlook.
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Net revenues in the quarter ended 1 July rose $8.5m to $321.1m, while net quarterly profit climbed from $34.5m to $57.9m on strong growth in the company’s domestic market and website operations.
Across the first half of the year, net revenues grew by $20.5m to $663.1m, while net profit in the half reached $114.9m.
A sluggish performance in Europe undermined strong quarterly revenue growth in the US and online, as did the costs of implementing the Monthly Pass initiative in North America.
As a result the company has revised its guidance for the full-year 2006 to between $2.04 and $2.12 per fully diluted share, including expenses related to stock-based compensation and excluding charges associated with the early extinguishment of debt.
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By GlobalDataThe company had previously forecast full-year earnings of $2.10 to $2.20 per share.
