WeightWatchers 2013 Annual Report Download - page 118

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Reclassifications out of Accumulated Other Comprehensive Income(a)
Amounts Reclassified
from Accumulated Other
Comprehensive Income
Details about Other
Comprehensive Income
Components
Fiscal Year
Ended
December 28, 2013
Affected Line Item in the
Statement Where Net Income is
Presented
Loss on Qualifying Hedges
Interest rate contracts ............... $(10,037) Interest expense
(10,037) Income before income taxes
3,914 Provision for income taxes
$ (6,123) Net income
(a) Amounts in parentheses indicate debits to profit / loss
18. Quarterly Financial Information (Unaudited)
The following is a summary of the unaudited quarterly consolidated results of operations for the fiscal years
ended December 28, 2013 and December 29, 2012.
For the Fiscal Quarters Ended
March 30,
2013
June 29,
2013
September 28,
2013
December 28,
2013
Fiscal year ended December 28, 2013
Revenues, net ..................................... $490,790 $470,888 $396,334 $366,111
Gross profit ....................................... 283,637 283,715 231,980 201,780
Operating income .................................. 103,119 153,976 124,520 79,142
Net income ....................................... 48,753 64,916 60,258 30,798
Basic EPS ........................................ $ 0.87 $ 1.16 $ 1.07 $ 0.55
Diluted EPS ....................................... $ 0.87 $ 1.15 $ 1.07 $ 0.54
For the Fiscal Quarters Ended
March 31,
2012
June 30,
2012
September 29,
2012
December 29,
2012
Fiscal year ended December 29, 2012
Revenues, net ..................................... $506,786 $488,610 $432,903 $411,133
Gross profit ....................................... 291,171 297,032 257,651 247,964
Operating income .................................. 102,774 153,508 131,984 122,539
Net income ....................................... 54,605 77,462 67,364 57,995
Basic EPS ........................................ $ 0.74 $ 1.37 $ 1.21 $ 1.04
Diluted EPS ....................................... $ 0.74 $ 1.36 $ 1.20 $ 1.03
Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum
of the quarterly EPS amounts may not agree to the total for the year.
In the second quarter of fiscal 2013, net income and EPS were impacted by a $21,685 ($13,336 after tax), or
$0.24 per fully diluted share, early extinguishment of debt charge resulting from the write-off of fees associated
with the Company’s April 2013 debt refinancing. In the first quarter of fiscal 2012, the Company
F-32