WeightWatchers 2010 Annual Report Download - page 108

WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIE
S
NO
TE
S
T
OCO
N
SO
LIDATED FINAN
C
IAL
S
TATEMENT
S
(
IN THOUSANDS, EXCEPT PER SHARE AMOUNTS
)
The Company is hedging forecasted transactions for periods not exceeding the next five years. At January 1,
2011, given the current configuration of its debt, the Company estimates that no derivative gains or losse
s
r
e
p
orted in accumulated other com
p
rehensive income (loss) will be reclassified to the Statement of Incom
e
within the next 12 months due to hedge ineffectiveness
.
A
so
f
Januar
y
1, 2011 an
d
Januar
y
2, 2010, cumu
l
at
i
ve
l
osses
f
or qua
lifyi
n
gh
e
dg
es were reporte
d
as a
component of accumulated other comprehensive income (loss) in the amounts of
$
24,119 (
$
39,539 before taxes)
and
$
23,735 (
$
38,910 before taxes), respectivel
y
. For the fiscal
y
ears ended Januar
y
1, 2011, Januar
y
2, 2010 an
d
Januar
y
3, 2009, t
h
ere were no
f
a
i
rva
l
ue a
dj
ustments recor
d
e
di
nt
h
e Statements o
f
Income s
i
nce a
ll h
e
dg
es were
cons
id
ere
d
qua
lifyi
n
g
an
d
e
ff
ect
i
ve.
The Compan
y
expects approximatel
y
$15,860 ($26,000 before taxes) of derivative losses included i
n
accumu
l
ate
d
ot
h
er compre
h
ens
i
ve
i
ncome/(
l
oss) at Januar
y
1, 2011,
b
ase
d
on current mar
k
et rates, w
ill b
e
r
ec
l
ass
ifi
e
di
nto earn
i
n
g
sw
i
t
hi
nt
h
e next 12 mont
h
s.
1
8. Quarterl
y
Financial Information
(
Unaudited
)
T
h
e
f
o
ll
ow
i
ng
i
s a summary o
f
t
h
e unau
di
te
d
quarter
l
y conso
lid
ate
d
resu
l
ts o
f
operat
i
ons
f
or t
h
e
fi
sca
l
years
en
d
e
d
January 1, 2011 an
d
January 2, 2010
.
F
or the F
i
scal
Q
uarters Ende
d
Apr
i
l3,
2
010
July
3,
201
0
O
ctober 2
,
201
0
J
anuary
1
,
2
01
1
F
i
scal year ended January 1, 2011
R
evenues
,
net .........................................
$
387
,
997
$
376
,
742
$
330
,
606
$
356
,
692
G
ross pro
fi
t
.
..........................................
2
11
,
683 211
,
671 178
,5
09 188
,
76
7
Operat
i
ng
i
ncom
e
...................................... 91
,
427 112
,
1
5
890
,
447 96
,
313
Net
i
ncome attr
ib
uta
bl
etot
h
e Company
.
................... 44
,
577 56
,
306 44
,
437 48
,
91
5
B
as
i
c EPS attr
ib
uta
bl
etot
h
e Company .....................
$
0
.58
$
0.73
$
0.59
$
0.6
6
D
il
ute
d
EPS attr
ib
uta
bl
etot
h
e Company
.
...................
$
0
.58
$
0.73
$
0.59
$
0.6
6
F
or the Fiscal
Q
uarters Ende
d
April 4,
2009
July 4
,
2
009
October 3
,
2
009
J
anuary 2,
20
1
0
F
i
scal
y
ear ended Januar
y
2, 201
0
R
evenues, net
.........................................
$
390,578
$
372,526
$
324,494
$
311,31
5
G
ross
p
rofit
...........................................
2
12,173 207,469 177,99
5
130,33
7
Operating incom
e
......................................
93,84
5
111,340 101,240
5
0,22
5
Net income attributable to the Company
....................
47,306
5
8,762
5
2,
5
69 18,70
7
B
asic EPS attributable to the Company .....................
$
0
.61
$
0.76
$
0.68
$
0.24
Diluted EPS attributable to the Company
.
...................
$
0
.61
$
0.76
$
0.68
$
0.24
Bas
i
can
d dil
ute
d
EPS are compute
di
n
d
epen
d
ent
l
y
f
or eac
h
o
f
t
h
e per
i
o
d
s presente
d
. Accor
di
ng
l
y, t
h
esu
m
of
t
h
e quarter
l
y EPS amounts may not agree to t
h
e tota
lf
or t
h
e year
.
A
s
di
scusse
di
n
f
urt
h
er
d
eta
il i
n Note 14, t
h
e Compan
y
rece
i
ve
d
an a
d
verse tax ru
li
n
g
t
h
at
i
ts UK
l
ea
d
er
s
s
h
ou
ld h
ave
b
een c
l
ass
ifi
e
d
as emp
l
o
y
ees
f
or UK tax purposes an
d
, as suc
h
,t
h
e Compan
y
s
h
ou
ld h
ave w
i
t
hh
e
ld
F-
28