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Weight Watchers Announces Third Quarter 2008 Results
Date:11/4/2008

NEW YORK, Nov. 4 /PRNewswire-FirstCall/ -- Weight Watchers International, Inc. (NYSE: WTW) today announced its results for the third quarter ended September 27, 2008.

Third Quarter 2008 Results

For the third quarter of 2008, net revenues increased $15.1 million to $352.6 million, up from $337.5 million in the third quarter of 2007. Excluding charges of $1.8 million associated with the Company's recent U.K. value added tax, or VAT, ruling, which were recorded as an offset to revenue, net revenues were up $16.9 million, or 5%, versus the prior year period.

Net income for the third quarter of 2008 was $52.7 million, including the impact of the Company's recent U.K. VAT ruling and the Company's share of after-tax expense of $0.6 million associated with the startup of the China joint venture, versus $49.5 million in the prior year period. Excluding these charges, net income for the third quarter of 2008 was $54.5 million, an increase of $5.0 million, or 10%, versus the prior year period.

Earnings per fully diluted share were $0.67 in the third quarter of 2008, versus $0.62 in the prior year period. Excluding the U.K. VAT charges and expense associated with the startup of the China joint venture, earnings per fully diluted share were $0.70, an increase of 13% versus the prior year period.

First Nine Months 2008 Results

In the first nine months of 2008, net revenues increased $66.6 million to $1,189.7 million, up from $1,123.1 million in the first nine months of 2007. Excluding charges of $34.2 million associated with the recent U.K. VAT ruling, net revenues were up $100.8 million, or 9%, versus the prior year period.

Net income for the first nine months of 2008, including the U.K. VAT charges and
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SOURCE Weight Watchers International, Inc.
Copyright©2008 PR Newswire.
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