WeightWatchers 2003 Annual Report Download - page 89

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE FISCAL YEAR ENDED JANUARY 3, 2004
(IN THOUSANDS)
Non-
Parent Guarantor Guarantor
Company Subsidiaries Subsidiaries Eliminations Consolidated
Revenues, net .................... $14,350 $770,425 $159,157 $ — $943,932
Cost of revenues .................. 272 348,336 91,790 — 440,398
Gross profit .................... 14,078 422,089 67,367 — 503,534
Marketing expenses ................ 2,373 85,946 25,284 — 113,603
Selling, general and administrative
expenses ...................... 11,980 46,881 15,001 — 73,862
Operating (loss) income ........... (275) 289,262 27,082 — 316,069
Interest expense (income), net ........ 27,608 6,929 (839) — 33,698
Other expense (income), net ......... 6,337 (3,455) (108) — 2,774
Early extinguishment of debt ......... 47,368 — — — 47,368
Equity in income of consolidated
subsidiaries .................... 161,012 — — (161,012) —
Franchise commission income (loss) .... 74,922 (64,759) (10,163) — —
Income before income taxes ........ 154,346 221,029 17,866 (161,012) 232,229
Provision for income taxes ........... 10,405 71,191 6,692 — 88,288
Net income .................... $143,941 $149,838 $ 11,174 $(161,012) $143,941
F-35