WeightWatchers 2015 Annual Report Download - page 79
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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME FOR THE FISCAL YEARS ENDED
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
January 2,
2016
January 3,
2015
December28,
2013
(52 weeks) (53 weeks) (52 weeks)
Service revenues, net ......................................... $ 937,368 $1,181,945 $1,360,761
Product sales and other, net .................................... 227,051 297,971 363,362
Revenues, net .......................................... 1,164,419 1,479,916 1,724,123
Cost of services ............................................. 477,926 535,320 558,451
Cost of product sales and other ................................. 112,406 142,045 164,560
Cost of revenues ........................................ 590,332 677,365 723,011
Gross profit ............................................ 574,087 802,551 1,001,112
Marketing expenses .......................................... 201,021 262,258 295,628
Selling, general and administrative expenses ...................... 205,008 240,979 247,732
Operating income ....................................... 168,058 299,314 457,752
Interest expense ............................................. 121,843 122,984 103,108
Other expense, net ........................................... 2,027 3,206 599
Gain on Brazil acquisition ..................................... 0 (10,540) 0
(Gain) loss on early extinguishment of debt ....................... (11,426) 0 21,685
Income before income taxes ............................... 55,614 183,664 332,360
Provision for income taxes .................................... 22,835 65,931 129,618
Net income ............................................ 32,779 117,733 202,742
Net loss attributable to the noncontrolling interest .................. 166 54 0
Net income attributable to Weight Watchers International, Inc. . . . $ 32,945 $ 117,787 $ 202,742
Earnings Per Share attributable to Weight Watchers International, Inc.
Basic ................................................. $ 0.56 $ 2.08 $ 3.61
Diluted ................................................ $ 0.56 $ 2.08 $ 3.60
Weighted average common shares outstanding
Basic ................................................. 58,369 56,607 56,144
Diluted ................................................ 58,966 56,705 56,394
Dividends declared per common share ........................... $ 0.00 $ 0.00 $ 0.53
The accompanying notes are an integral part of the consolidated financial statements.
F-4