Weight Watchers Posts Narrower-Than-Expected Q1 Loss, Shares Gain

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Shares of
Weight Watchers International, Inc.
WTW
jumped over 5 percent in after-hours trading after the company reported a narrower-than-expected loss for the first quarter. The New York-based company posted a quarterly loss of $5.4 million, or $0.10 per share, versus a year-ago profit of $21.5 million, or $0.38 per share. Excluding items, Weight Watchers lost $0.09 per share. Its revenue dropped 21.3 percent year-over-year to $322.1 million. However, analysts were estimating a loss of $0.19 per share on revenue of $324.36 million. The average estimate among 15 Estimize users was for a loss of $0.16 per share and revenue of $327.08 million. Service revenue for North America slipped 20.8 percent on a constant currency basis in the quarter, while service revenue for the UK dropped 10.8 percent on a constant currency basis. Service revenue for Continental Europe declined 4.7 percent on a constant currency basis. The number of active subscribers slipped 20 percent year-over-year in the latest quarter. Online subscribers slipped 22 percent, while meeting subscribers declined 17 percent. "Our first quarter results were in line with our previously shared expectations," commented Jim Chambers, the Company's President and Chief Executive Officer. "We are fully engaged in executing our transformation plan, firmly believe we are pursuing the right strategies, and are confident we can implement them successfully." Weight Watchers reaffirmed its outlook for the full year. Weight Watchers shares gained 5.01 percent to $8.60 in the after-hours trading session.
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Posted In: EarningsNewsloss
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