Nutrisystem 2011 Annual Report Download - page 47

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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 (the
Company) as of December 31, 2011 and 2010, and the related consolidated statements of operations,
stockholders’ equity and comprehensive income, and cash flows for each of the years in the three-year period
ended December 31, 2011. 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, 2011 and 2010, and the results of
their operations and their cash flows for each of the years in the three-year period ended December 31, 2011, 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), Nutrisystem, Inc.’s internal control over financial reporting as of December 31, 2011, 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 12, 2012 expressed an
unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.
/s/ KPMG LLP
Philadelphia, Pennsylvania
March 12, 2012
43