UPDATE: Weight Watchers Posts 8.9% Drop In Q4 Profit, Issues Downbeat 2013 View
Weight Watchers International (NYSE: WTW) reported an 8.9% drop in its fourth-quarter earnings and issued downbeat 2013 forecast.
For the year, Weight Watchers expects earnings of $3.50 to $4 per share, versus analysts' estimates of $4.75 per share.
Weight Watchers' quarterly profit fell to $58 million, from $63.7 million, in the year-ago period. On a per-share basis, its earnings rose to $1.03 from $0.86. Excluding special items, its adjusted earnings came in at $0.96 per share.
Its revenue rose 1.7% to 407.9 million. However, analysts were expecting earnings of $0.87 per share on revenue of $398 million.
Weight Watchers shares dropped 14.99% to $46.00 in after-hours trading.
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