Weight Watchers Q2 Profit Falls Yet Tops Estimate; Boosts FY14 Outlook

(RTTNews) - Weight Watchers International, Inc. (WTW) reported second quarter net income of $54.0 million or $0.95 per share, compared to $64.9 million or $1.15 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $55.6 million or $0.98 per share, compared to $78.3 million or $1.39 per share in the prior year quarter.

Revenues for the second quarter fell 15.6% to $397.5 million from $470.9 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.77 per share on revenue of $387.66 million for the second quarter. Analysts' estimates typically exclude special items.

The company raised its full year 2014 earnings guidance to a range of $1.65 to $1.85 per share from its prior guidance of $1.45 to $1.70 per share. Analysts currently expect the company to earn $1.63 per share for the full year 2014.