July 30, 2014: Weight Watchers reported its results for Q2 2014.
- Revenues of $397.5 million, down 15.6% versus the prior year period, with total paid weeks down 14.4%
- Cash flow provided by operating activities totaled $145.5 million year-to-date
- Earnings per fully diluted share (EPS) were $0.95
"While Q2 financial performance is down significantly year over year, our transformation plan remains on track," commented Jim Chambers, the company's President and CEO. Chambers added, "Given our performance in the first half and our expectations for the balance of the year, we are raising our full year fiscal 2014 earnings guidance to a range of $1.65 to $1.85 per share."
Q2 2014 revenues fell 16.8% on a constant currency basis versus the prior year period. This decrease was primarily driven by lower revenues in North America. Q2 2014 total paid weeks were down 14.4% vs. the prior year period, with an Online paid weeks decline of 15.5% and meeting paid weeks decline of 12.9%. These declines were driven by lower active subscriber bases for both Monthly Pass and Online at the start of the quarter and lower recruitments versus the prior year period.