WeightWatchers 2012 Annual Report Download - page 3
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Dear Shareholders,
Despite the tough operating environment in
, global engagement with the Weight
Watchers® brand reached another high point,
growing .% measured by paid weeks. And
importantly, we have never felt better about our
long-term growth prospects.
We generated revenue of $. billion in
, which was essentially flat with .
Adjusted operating margin, while down, was
still an impressive %+. Free cash flow
generation remains robust. In addition to
high profitability, we have negative working
capital and extremely high ROIC—all inherent
characteristics of the power of our business
model, which enables us to invest in the
business while simultaneously redeploying
cash to Shareholders.