Nutrisystem 2005 Annual Report Download - page 41

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
NutriSystem, Inc.:
We have audited the accompanying consolidated balance sheets of NutriSystem, Inc. and subsidiaries as of
December 31, 2005 and 2004, and the related consolidated statements of operations, stockholders’ equity, and
cash flows for each of the years in the three-year period ended December 31, 2005. These consolidated financial
statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on
these consolidated financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects,
the financial position of NutriSystem, Inc. and subsidiaries as of December 31, 2005 and 2004, and the results of
their operations and their cash flows for each of the years in the three-year period ended December 31, 2005, in
conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the effectiveness of NutriSystem, Inc.’s internal control over financial reporting as of
December 31, 2005, based on criteria established in Internal Control—Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated March 13,
2006 expressed an unqualified opinion on management’s assessment of, and the effective operation of, internal
control over financial reporting.
/s/ KPMG LLP
Philadelphia, Pennsylvania
March 13, 2006
37