Weight Watchers Announces Fourth Quarter and Full Year 2012 Results and Provides Full Year 2013 Guidance

   Weight Watchers Announces Fourth Quarter and Full Year 2012 Results and
                       Provides Full Year 2013 Guidance

PR Newswire

NEW YORK, Feb. 13, 2013

NEW YORK, Feb. 13, 2013 /PRNewswire/ --Weight Watchers International, Inc.
(NYSE: WTW) today announced its fiscal 2012 results for the fourth quarter and
full year and provided full year fiscal 2013 earnings guidance.

Fourth quarter 2012 highlights include:

  oRevenues of $407.9 million, up 1.7% versus the prior year period, with
    total paid weeks up 4.5%
  oInternet revenues of $117.6 million, up 17.6% versus the prior year
    period, with Online paid weeks up 18.0% and end of period active Online
    subscribers up 18.0%
  oEPS of $1.03 for the quarter and full year 2012 EPS of $4.23; excluding a
    one-time net benefit related to the Company's settlement of its previously
    disclosed UK self-employment tax litigation, EPS for the quarter was $0.96
    and full year 2012 EPS was $4.16

"While 2012 set a Company record for combined global meetings members and
global Weight Watchers Online subscribers, we have been disappointed by our
recruitment trends thus far in 2013," commented David Kirchhoff, Chief
Executive Officer of the Company. "Our current marketing has not been as
effective in this tough economic and increasingly competitive environment. In
this context, we are taking appropriate steps to address these near-term
challenges while continuing to pursue our long-term growth strategies. We are
providing a 2013 full-year guidance range of $3.50 to $4.00 per fully diluted
share."

Q4 2012 Consolidated Summary

                          Net Income (in millions)      Fully Diluted EPS
                          Three Months Ended            Three Months Ended
                          December  December  %        December  December  %
                          29, 2012  31, 2011   Change   29, 2012  31, 2011  Change
Net Income / EPS          $58.0     $63.7      (8.9)%   $1.03     $0.86     20.4%
Adjustments
UK Self-Employment        (4.1)     ---                 (0.07)    ---
Accrual Reversal
Adjusted Net Income /     $53.9     $63.7      (15.3)%  $0.96     $0.86     11.9%
EPS
________________________
Note: Totals may not sum due to rounding.



See "Reconciliation of Non-GAAP Financial Measures" attached to this release for
further detail on adjustments to GAAP financial measures.

Fourth quarter 2012 net income was $58.0 million versus $63.7 million in the
prior year period. Earnings per fully diluted share (EPS) for Q4 2012 were
$1.03 versus $0.86 in the prior year period.

Net income and EPS for Q4 2012 were impacted by certain items which affect
year-over-year comparability. In the fourth quarter of fiscal 2012, the
Company recognized a $4.1 million net benefit ($7.4 million pre-tax), or $0.07
per fully diluted share, from an accrual reversal associated with the
settlement in the quarter of the previously reported UK self-employment tax
litigation. The $7.4 million pre-tax net benefit associated with the
settlement consisted of an over-accrual reversal to cost of revenues of $14.5
million partially offset by an additional interest accrual of $7.1 million.
Excluding this net benefit (after-tax) associated with the settlement, net
income was $53.9 million and EPS was $0.96 in Q4 2012.

In addition, as in Q2 and Q3 2012, Q4 2012 EPS benefited from the completion
of the Company's previously disclosed tender offer and related stock
repurchase transaction. Foreign currency did not have a significant impact on
EPS in Q4 2012.

Q4 2012 Global Results

                                                                     % Change
                           Three Months Ended
                                                                     Adjusted
(in millions except                                    % Change      for
percentages)               December      December
                                                                     Constant
                           29, 2012      31, 2011
                                                                     Currency
Revenues                   $407.9        $401.3        1.7%          1.7%
Operating Income           $122.5        $117.0        4.8%          4.6%
Adjustments
UK Self-Employment         (14.5)        ---
Accrual Reversal
Adjusted Operating         $108.0        $117.0        (7.7)%        (7.4)%
Income
Total Paid Weeks           47.2          45.2          4.5%          N/A
Meeting Paid Weeks         21.8          23.7          (7.9)%        N/A
Online Paid Weeks          25.4          21.5          18.0%         N/A
Attendance                 9.8           11.4          (14.4)%       N/A
__________________________________

Note: Totals may not sum due to rounding.



See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

Fourth quarter 2012 revenues increased 1.7% on a constant currency basis
versus the prior year period, as the Company continued to benefit from strong
growth globally in the WeightWatchers.com business. This growth in the
WeightWatchers.com business was mostly offset by lower revenues in the
meetings business as the Company experienced weaker volumes in North America
and the UK.

Q4 2012 total paid weeks were up 4.5% as compared to the prior year period, on
top of the 30.7% growth reported in Q4 2011 versus Q4 2010. Online paid weeks
increased 18.0% versus the prior year period, on top of the 58.8% growth
experienced in Q4 2011 versus Q4 2010. Meeting paid weeks decreased 7.9%
versus the prior year period and attendance decreased 14.4% versus the prior
year period.

Q4 2012 operating income increased 4.6% on a constant currency basis versus
the prior year period. Excluding the $14.5 million over-accrual reversal
benefit associated with the settlement of the UK self-employment tax
litigation, Q4 2012 operating income decreased 7.4% on a constant currency
basis versus the prior year period. Similar to the first nine months of
fiscal 2012, gross margin expansion from the higher-margin WeightWatchers.com
business was partially offset by gross margin contraction in the meetings
business due to expenses associated with our retail initiative in North
America, one-time costs associated with the transition to a new customer
service provider in North America, and softer volumes. Gains in gross margin
were more than offset by higher general and administrative and marketing
expenses in Q4 2012 versus the prior year period due to increased investments
in strategic initiatives and higher medical benefits expense, as well as
higher advertising and marketing expense for the North American meetings
business.

Q4 2012 NACO Performance

                                                                      % Change
                                   Three Months Ended      
                                                                      Adjusted
(in millions except percentages)                                     for
                                   December    December
                                                           % Change   Constant
                                   29, 2012    31, 2011
                                                                      Currency
Meeting Revenues                   $175.1      $178.2      (1.7)%     (1.9)%
Meeting Paid Weeks                 14.7        15.9        (7.3)%     N/A
Attendance                         6.2         7.2         (14.5)%    N/A
_____________________________
See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

Fourth quarter 2012 meeting revenues for the North American meetings business
(NACO) were down 1.9% on a constant currency basis versus the prior year
period, as a result of continued lower enrollment volumes and continued
weakness in the traditional meetings business. As a result, Q4 2012 meeting
paid weeks and attendance decreased 7.3% and 14.5%, respectively, versus the
prior year period.

Q4 2012 International Performance

                                                                      % Change
                                    Three Months Ended
                                                                      Adjusted
(in millions except percentages)                            % Change  for
                                    December    December
                                                                      Constant
                                    29, 2012    31, 2011
                                                                      Currency
International Meeting Revenues      $82.5       $87.1       (5.3)%    (4.5)%
UK Meeting Revenues                 $31.8       $35.0       (9.1)%    (10.6)%
CE Meeting Revenues                 $39.8       $38.4       3.6%      7.5%
International Meeting Paid Weeks    7.1         7.8         (9.0)%    N/A
UK Meeting Paid Weeks               3.5         4.2         (17.8)%   N/A
CE Meeting Paid Weeks               3.0         2.7         9.0%      N/A
International Attendance            3.6         4.2         (14.3)%   N/A
UK Attendance                       1.7         2.2         (21.9)%   N/A
CE Attendance                       1.5         1.5         1.0%      N/A
_____________________________
See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

Similar to the second and third quarters of fiscal 2012, Q4 2012 International
meeting revenues were down 4.5% on a constant currency basis versus the prior
year period, with growth in Continental Europe (CE) continuing to be more than
offset by declines in the United Kingdom (UK).

  oUK:  Fourth quarter 2012 UK meeting revenues decreased 10.6% on a constant
    currency basis versus the prior year period due to continued impact from a
    less effective marketing campaign and weak macro-economic trends.
  oCE: Fourth quarter 2012 CE meeting revenues were up 7.5% on a constant
    currency basis versus the prior year period, with paid weeks up 9.0%
    versus the prior year period. CE continued to benefit from successful
    marketing campaigns, particularly in France and Germany, despite a
    challenging macro-economic environment.

Q4 2012 WeightWatchers.com Performance

                                                                      % Change
                                    Three Months Ended
                                                                      Adjusted
(in millions except percentages and                         %         for
as noted)                           December    December    Change
                                                                      Constant
                                    29, 2012    31, 2011
                                                                      Currency
Internet Revenues                   $117.6      $100.0      17.6%     17.7%
Online Paid Weeks                   25.4        21.5        18.0%     N/A
End of Period Active Online         1,871.4     1,585.9     18.0%     N/A
Subscribers (in thousands)
_____________________________
See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

The WeightWatchers.com business continued to deliver strong growth in the
fourth quarter of fiscal 2012, with Internet revenues up 17.7% on a constant
currency basis versus the prior year period. Online paid weeks were up 18.0%,
and end of period active Online subscribers were up 18.0%, versus Q4 2011.
Performance was strong across most markets, with strong double-digit Online
paid weeks growth in the North American and Continental European markets.

Full Year 2012 Summary

                        Net Income (in millions)     Fully Diluted EPS
                        Twelve Months                Twelve Months
                        Ended                        Ended
                        December  December  %        December  December  %
                                            Change                       Change
                        29, 2012  31, 2011           29, 2012  31, 2011
Net Income / EPS        $257.4    $304.9    (15.6)%  $4.23     $4.11     2.7%
Adjustments
UK Self-Employment      (4.1)     ---                (0.07)    ---
Accrual Reversal
Adjusted Net Income /   $253.3    $304.9    (16.9)%  $4.16     $4.11     1.1%
EPS
______________________
Note: Totals may not sum due to rounding.



See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

Full year fiscal 2012 net income was $257.4 million versus $304.9 million in
the prior year. Excluding the net benefit associated with the settlement in
Q4 2012 of the UK self-employment tax litigation, net income in the full year
of fiscal 2012 was $253.3 million. The decrease in the Company's
year-over-year performance for the full year of fiscal 2012 was primarily the
result of lower sales in the meetings business and higher interest expense
offset, in part, by growth in the WeightWatchers.com business.

EPS for the full year of fiscal 2012 was $4.23 versus $4.11 in the prior
year. Excluding the net benefit associated with the Q4 2012 settlement of the
UK self-employment tax litigation, EPS for the full year of fiscal 2012 was
$4.16, an increase of 1.1% versus the prior year. Full year 2012 EPS
benefited from the completion of the Company's tender offer and related stock
repurchase transaction. These transactions, as previously disclosed, resulted
in the repurchase of 18,279,289 shares in the aggregate of the Company's
common stock for approximately $1.5 billion in the aggregate. Foreign
currency negatively impacted full year 2012 EPS by approximately $0.07 per
fully diluted share.

Full Year 2012 Global Results

                                                                      % Change
                                   Twelve Months Ended
                                                                      Adjusted
(in millions except percentages)                            % Change  for
                                   December     December
                                                                      Constant
                                   29, 2012     31, 2011
                                                                      Currency
Revenues                           $1,826.8     $1,819.2    0.4%      1.8%
Operating Income                   $510.8       $546.3      (6.5)%    (5.3)%
Adjustments
UK Self-Employment Accrual         (14.5)       ---
Reversal
Adjusted Operating Income          $496.3       $546.3      (9.2)%    (7.9)%
Total Paid Weeks                   210.7        192.8       9.3%      N/A
Meeting Paid Weeks                 99.2         104.8       (5.4)%    N/A
Online Paid Weeks                  111.5        88.0        26.7%     N/A
Attendance                         50.7         57.0        (11.0)%   N/A
_____________________________
Note: Totals may not sum due to rounding.



See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

Full year 2012 revenues increased 1.8% on a constant currency basis versus the
prior year as the Company continued to benefit from strong global growth in
the WeightWatchers.com business. This growth in the WeightWatchers.com
business was in large part offset by lower sales in the meetings business as
the Company experienced weaker volumes particularly in North America and the
UK.

Full year 2012 total paid weeks were up 9.3% as compared to the prior year, on
top of the 37.3% growth reported for the full year 2011 versus the full year
2010. Full year 2012 meeting paid weeks and attendance decreased 5.4% and
11.0%, respectively, versus the prior year. Online paid weeks for the full
year 2012 increased 26.7% versus the prior year, on top of the 67.6% growth
reported for the full year 2011 versus the full year 2010.

Full year 2012 operating income decreased 5.3% on a constant currency basis
versus the prior year. Excluding the $14.5 million over-accrual reversal
benefit associated with the settlement in Q4 2012 of the UK self-employment
tax litigation, operating income for the full year 2012 decreased by 7.9% on a
constant currency basis versus the prior year. This decline was driven by a
combination of volume weakness in the meetings business and higher marketing
expense and general and administrative expense as the Company continued to
invest in several growth areas: namely, deploying first-time Online TV
campaigns in several countries, marketing Weight Watchers Online to men in the
United States, and building capabilities in B2B, retail and technology.

Full Year Fiscal 2013 Earnings Guidance

The Company provided full year 2013 earnings guidance of between $3.50 and
$4.00 per fully diluted share.

Fourth Quarter and Full Year 2012 Conference Call
The Company has scheduled a conference call today at 5:00 p.m. ET. During the
conference call, David Kirchhoff, Chief Executive Officer of the Company, and
Nicholas Hotchkin, Chief Financial Officer of the Company, will discuss fourth
quarter and full year 2012 results and answer questions from the investment
community. Live audio of the conference call will be simultaneously webcast
over the Internet on the Company's corporate website,
www.weightwatchersinternational.com. A replay of the webcast will be
available on this site for approximately 90 days.

Statement regarding Non-GAAP Financial Measures
The following provides information regarding non-GAAP financial measures used
in this earnings release:

To supplement the Company's consolidated results presented in accordance with
accounting principles generally accepted in the United States (GAAP), the
Company has disclosed non-GAAP financial measures of operating results that
exclude or adjust certain items. Earnings before interest, taxes,
depreciation, amortization and stock-based compensation (EBITDAS) is presented
in the attachments to this release. Net income, operating income and earnings
per fully diluted share with respect to the fourth quarter and full year of
fiscal 2012 are discussed in this release both as reported (on a GAAP basis)
and as adjusted (on a non-GAAP basis) to exclude the net benefit associated
with the settlement of the Company's previously reported UK self-employment
tax litigation. In addition, the Company presents certain of its financial
results on a constant currency basis in addition to GAAP results. Constant
currency information compares results between periods as if exchange rates had
remained constant period-over-period. In this release and any attachments, the
Company calculates constant currency by calculating current-year results using
prior-year foreign currency exchange rates.

Management believes these non-GAAP financial measures provide useful
supplemental information for its and investors' evaluation of the Company's
business performance and are useful for period-over-period comparisons of the
performance of the Company's business. While management believes that these
financial measures are useful in evaluating the Company's business, this
information should be considered as supplemental in nature and should not be
considered in isolation or as a substitute for the related financial
information prepared in accordance with GAAP. In addition, these non-GAAP
financial measures may not be the same as similarly entitled measures reported
by other companies. See "Reconciliation of Non-GAAP Financial Measures"
attached to this release and reconciliations, if any, included elsewhere in
this release for a reconciliation of the non-GAAP financial measures to the
most directly comparable GAAP measures.

About Weight Watchers International, Inc.
Weight Watchers International, Inc. is the world's leading provider of weight
management services, operating globally through a network of Company-owned and
franchise operations. Weight Watchers holds over 45,000 meetings each week
where members receive group support and learn about healthy eating patterns,
behavior modification and physical activity. WeightWatchers.com provides
innovative, subscription weight management products over the Internet and is
the leading Internet-based weight management provider in the world. In
addition, Weight Watchers offers a wide range of products, publications and
programs for those interested in weight loss and weight control.

This news release and any attachments include "forward-looking statements,"
within the meaning of Section27A of the Securities Act of 1933, as amended,
and Section21E of the Securities Exchange Act of 1934, as amended, including,
in particular, earnings guidance and any statements about the Company's plans,
strategies and prospects. The Company generally uses the words "may," "will,"
"could," "expect," "anticipate," "believe," "estimate," "plan," "intend" and
similar expressions in this news release and any attachments to identify
forward-looking statements. The Company bases these forward-looking statements
on its current views with respect to future events and financial performance.
Actual results could differ materially from those projected in the
forward-looking statements. These forward-looking statements are subject to
risks, uncertainties and assumptions, including, among other things:
competition from other weight management industry participants or the
development of more effective or more favorably perceived weight management
methods; the Company's ability to continue to develop innovative new services
and products and enhance its existing services and products, or the failure of
its services and products to continue to appeal to the market; the
effectiveness of the Company's marketing and advertising programs; the impact
on the Weight Watchers brand of actions taken by the Company's franchisees,
licensees and suppliers; risks and uncertainties associated with the Company's
international operations, including economic, political and social risks and
foreign currency risks; the Company's ability to successfully make
acquisitions or enter into joint ventures, including its ability to
successfully integrate, operate or realize the projected benefits of such
businesses; uncertainties related to a downturn in general economic conditions
or consumer confidence; the seasonal nature of the Company's business; the
impact of events that discourage people from gathering with others; the
Company's ability to enforce its intellectual property rights both
domestically and internationally, as well as the impact of its involvement in
any claims related to intellectual property rights; uncertainties regarding
the satisfactory operation of the Company's information technology or systems;
the impact of security breaches or privacy concerns; the impact of disputes
with the Company's franchise operators; the impact of existing and future
laws and regulations; the impact of the Company's debt service obligations and
restrictive debt covenants; the possibility that the interests of the
Company's majority owner will conflict with the other holders of the Company's
common stock; and other risks and uncertainties, including those detailed from
time to time in the Company's periodic reports filed with the Securities and
Exchange Commission. You should not put undue reliance on any forward-looking
statements. You should understand that many important factors, including those
discussed herein, could cause the Company's results to differ materially from
those expressed or suggested in any forward-looking statement. Except as
required by law, the Company does not undertake any obligation to update or
revise these forward-looking statements to reflect new information or events
or circumstances that occur after the date of this news release or to reflect
the occurrence of unanticipated events or otherwise. Readers are advised to
review the Company's filings with the Securities and Exchange Commission
(which are available from the SEC's EDGAR database at www.sec.gov, at various
SEC reference facilities in the United States and via the Company's website at
www.weightwatchersinternational.com).

Contact Information:
Investors:
Weight Watchers International, Inc. Brainerd Communicators, Inc.
Lori Scherwin                        Corey Kinger
Investor Relations                  (212) 986-6667
(212) 589-2713



WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(IN MILLIONS)
UNAUDITED
                                        December 29,        December 31,
                                        2012                2011
ASSETS
Current assets                          $      218.0  $      214.5
Property and equipment, net             71.8                41.1
Goodwill, franchise rights and other    898.9               851.5
intangible assets, net
Deferred financing costs, other         29.9                14.5
 TOTAL ASSETS                       $     1,218.6   $     1,121.6
LIABILITIES AND TOTAL DEFICIT
Current liabilities                     $      447.9  $      494.2
Long-term debt                          2,291.7             926.9
Deferred income taxes                   129.4               100.7
Other                                   15.1                9.6
 TOTAL LIABILITIES                 2,884.1             1,531.4
Shareholders' deficit                   (1,665.5)           (409.8)
 TOTAL LIABILITIES AND TOTAL        $     1,218.6   $     1,121.6
DEFICIT





WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
UNAUDITED
                          Three Months Ended
                                                                   December
                                                                   31,
                          December 29, 2012                        2011
                                       Impact of
                                       UK Self-
                          Reported     Employment     Adjusted     Reported
                          Results      Settlement     Results      Results
Meeting fees, net         $       $        $       $     
                           210.7        -        210.7      218.4
Product sales and other,  79.6         -              79.6         82.9
net
Internet revenues         117.6        -              117.6        100.0
    Revenues, net         407.9        -              407.9        401.3
Cost of meetings,         146.9        14.5           161.5        161.2
products and other
Cost of Internet revenues 15.9         -              15.9         14.4
    Cost of revenues      162.9        14.5           177.4        175.6
    Gross profit          245.1        (14.5)         230.5        225.7
Marketing expenses        63.5         -              63.5         60.0
Selling, general and      59.0         -              59.0         48.7
administrative expenses
    Operating income      122.5        (14.5)         108.0        117.0
Interest expense          30.4         (7.1)          23.3         13.0
Other (income) expense,   (0.6)        -              (0.6)        3.3
net
    Income before income  92.7         (7.4)          85.3         100.6
    taxes
Provision for income      34.7         (3.3)          31.4         37.0
taxes
    Net income
    attributable to       $       $        $       $     
    Weight Watchers         58.0      (4.1)        53.9      63.7
    International, Inc.
Earnings Per Share
attributable to Weight
Watchers International,
Inc.
    Basic                 $       $        $       $     
                            1.04     (0.07)         0.97      0.87
    Diluted               $       $        $       $     
                            1.03     (0.07)         0.96      0.86
Weighted average common
shares outstanding:
    Basic                 55.7         55.7           55.7         73.6
    Diluted               56.2         56.2           56.2         74.3
Dividends declared per    $                      $       $     
common share                0.18                     0.18      0.18
Note: Totals may not sum due to
rounding.





WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
UNAUDITED
                          Twelve Months Ended
                                                                   December
                                                                   31,
                          December 29, 2012                        2011
                                       Impact of
                                       UK Self-
                          Reported     Employment     Adjusted     Reported
                          Results      Settlement     Results      Results
Meeting fees, net         $       $        $       $     
                           934.9        -        934.9      990.3
Product sales and other,  387.5        -              387.5        429.4
net
Internet revenues         504.3        -              504.3        399.5
    Revenues, net         1,826.8      -              1,826.8      1,819.2
Cost of meetings,         680.4        14.5           694.9        716.3
products and other
Cost of Internet revenues 63.6         -              63.6         55.7
    Cost of revenues      744.0        14.5           758.6        772.0
    Gross profit          1,082.8      (14.5)         1,068.2      1,047.1
Marketing expenses        343.5        -              343.5        292.4
Selling, general and      228.5        -              228.5        208.5
administrative expenses
    Operating income      510.8        (14.5)         496.3        546.3
Interest expense          90.5         (7.1)          83.4         59.9
Other (income) expense,   2.0          -              2.0          3.4
net
Early extinguishment of   1.3          -              1.3          -
debt
    Income before income  417.0        (7.4)          409.5        483.1
    taxes
Provision for income      159.5        (3.3)          156.2        178.7
taxes
    Net income            257.4        (4.1)          253.3        304.3
Net income attributable
to the noncontrolling     -            -              -            0.5
interest
    Net income
    attributable to       $       $        $       $     
    Weight Watchers        257.4       (4.1)       253.3      304.9
    International, Inc.
Earnings Per Share
attributable to Weight
Watchers International,
Inc.
    Basic                 $       $        $       $     
                            4.27     (0.07)         4.20      4.16
    Diluted               $       $        $       $     
                            4.23     (0.07)         4.16      4.11
Weighted average common
shares outstanding:
    Basic                 60.3         60.3           60.3         73.3
    Diluted               60.9         60.9           60.9         74.1
Dividends declared per    $                      $       $     
common share                0.70                     0.70      0.70
Note: Totals may not sum due to
rounding.





WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
OPERATIONAL STATISTICS
UNAUDITED
                                          Three Months Ended
                                          December 29,  December 31,
                                          2012          2011
Total Revenues (in $ millions)
Meeting Fees                            210.7         218.4
In-Meeting Product Sales                46.9          46.9
Internet Revenues                       117.6         100.0
All Other                               32.7          36.0
Total Revenues                          407.9         401.3
North America (in $ millions)
Meeting Fees                            147.1         151.8
In-Meeting Product Sales                28.0          26.4
Total                                   175.1         178.2
International (in $ millions)
Meeting Fees                            63.6          66.6
In-Meeting Product Sales                19.0          20.6
Total                                   82.5          87.1
Paid Weeks (in millions) (1)
North America Meeting Paid Weeks        14.7          15.9
UK Meeting Paid Weeks                   3.5           4.2
CE Meeting Paid Weeks                   3.0           2.7
Other Meeting Paid Weeks                0.6           0.8
Sub-total Meeting Paid Weeks            21.8          23.7
Online Paid Weeks                       25.4          21.5
Total Paid Weeks                        47.2          45.2
Attendance (in millions)
North America                           6.2           7.2
UK                                      1.7           2.2
CE                                      1.5           1.5
Other                                   0.3           0.5
Total Attendance                        9.8           11.4
WeightWatchers.com (in thousands)
End of Period Active Online Subscribers 1,871.4       1,585.9

Note: Totals may not sum due to
      rounding.
      The Paid Week metric reports total paid weeks by Weight Watchers
      customers in Company-owned operations for a given period. For meetings,
(1)   Paid Weeks is the sum of total paid commitment plan weeks and total
      pay-as-you-go weeks for a given period. For Online, Paid Weeks is the
      total paid Weight Watchers Online subscriber weeks for a given period.





WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
OPERATIONAL STATISTICS
UNAUDITED
                                          Twelve Months Ended
                                          December 29,  December 31,
                                          2012          2011
Total Revenues (in $ millions)
Meeting Fees                            934.9         990.3
In-Meeting Product Sales                253.2         281.8
Internet Revenues                       504.3         399.5
All Other                               134.3         147.6
Total Revenues                          1,826.8       1,819.2
North America (in $ millions)
Meeting Fees                            653.4         686.8
In-Meeting Product Sales                145.9         157.9
Total                                   799.3         844.7
International (in $ millions)
Meeting Fees                            281.5         303.5
In-Meeting Product Sales                107.3         123.9
Total                                   388.9         427.4
Paid Weeks (in millions) (1)
North America Meeting Paid Weeks        66.0          69.9
UK Meeting Paid Weeks                   16.9          19.1
CE Meeting Paid Weeks                   13.4          12.2
Other Meeting Paid Weeks                2.9           3.6
Sub-total Meeting Paid Weeks            99.2          104.8
Online Paid Weeks                       111.5         88.0
Total Paid Weeks                        210.7         192.8
Attendance (in millions)
North America                           31.9          36.0
UK                                      9.7           11.6
CE                                      7.4           7.2
Other                                   1.7           2.2
Total Attendance                        50.7          57.0
WeightWatchers.com (in thousands)
End of Period Active Online Subscribers 1,871.4       1,585.9

Note: Totals may not sum due to rounding.
    The Paid Week metric reports total paid weeks by Weight Watchers
    customers in Company-owned operations for a given period. For meetings,
(1) Paid Weeks is the sum of total paid commitment plan weeks and total
    pay-as-you-go weeks for a given period. For Online, Paid Weeks is the
    total paid Weight Watchers Online subscriber weeks for a given period.





WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(IN MILLIONS, EXCEPT PERCENTAGES)
UNAUDITED
                                                                                      Q4 2012 Variance
                  Q4 2012                                                      Q4                      2012 Constant
                                                                               2011                    Currency
                                                                     Adjusted         2012   2012      2012    2012
                                               Currency    Constant  Constant         vs     vs 2011   vs      vs 2011
                  GAAP   Adjustment  Adjusted  Adjustment  Currency  Currency  GAAP   2011   Adjusted  2011    Adjusted
                         ^(1)
Selected
Financial Data
Consolidated      $    $       $      $       $      $      $  
Company Revenues          -      407.9     0.3      408.2    408.2        1.7%   1.7%      1.7%    1.7%
                  407.9                                                        401.3
Consolidated      $    $       $      $       $      $      $  
Meeting Fees^(2)          -      210.7     0.1      210.8    210.8        -3.5%  -3.5%     -3.5%   -3.5%
                  210.7                                                        218.4
Consolidated      $                                                          $  
In-Meeting            $       $      $       $      $          0.1%   0.1%      0.3%    0.3%
Product Sales     46.9      -       46.9    0.1       47.0    47.0  46.9
^(3)
NACO
                  $    $       $      $       $      $      $  
Meeting Fees^(2)          -      147.1    (0.4)     146.8    146.8        -3.1%  -3.1%     -3.3%   -3.3%
                  147.1                                                        151.8
In-Meeting        $    $       $      $       $      $      $  
Product Sales            -       28.0   (0.1)      27.9    27.9      6.1%   6.1%      5.9%    5.9%
^(3)              28.0                                                         26.4
Meeting           $    $       $      $       $      $      $  
Revenues^(4)              -      175.1    (0.4)     174.7    174.7        -1.7%  -1.7%     -1.9%   -1.9%
                  175.1                                                        178.2
Total             $    $       $      $       $      $      $  
Revenues-Meetings         -      189.9    (0.4)     189.5    189.5        -1.7%  -1.7%     -2.0%   -2.0%
Business ^(6)     189.9                                                        193.3
International
                  $    $       $      $       $      $      $  
Meeting Fees^(2)         -       63.6    0.5       64.0    64.0      -4.5%  -4.5%     -3.8%   -3.8%
                  63.6                                                         66.6
In-Meeting        $    $       $      $       $      $      $  
Product Sales            -       19.0    0.2       19.1    19.1      -7.7%  -7.7%     -6.9%   -6.9%
^(3)              19.0                                                         20.6
Meeting           $    $       $      $       $      $      $  
Revenues^(4)             -       82.5    0.6       83.2    83.2      -5.3%  -5.3%     -4.5%   -4.5%
                  82.5                                                         87.1
Total             $    $       $      $       $      $      $  
Revenues-Meetings        -       93.7    0.6       94.3    94.3      -5.3%  -5.3%     -4.7%   -4.7%
Business ^(6)     93.7                                                         99.0
UK
                  $    $       $      $       $      $      $  
Meeting Fees^(2)         -       23.5   (0.4)      23.1    23.1      -8.8%  -8.8%     -10.4%  -10.4%
                  23.5                                                         25.8
In-Meeting        $    $       $      $       $      $      $  
Product Sales            -             (0.1)                      -9.8%  -9.8%     -11.1%  -11.1%
^(3)               8.2              8.2                   8.1       8.1        9.1
Meeting           $    $       $      $       $      $      $  
Revenues^(4)             -       31.8   (0.5)      31.3    31.3      -9.1%  -9.1%     -10.6%  -10.6%
                  31.8                                                         35.0
Total             $    $       $      $       $      $      $  
Revenues-Meetings        -       35.7   (0.6)      35.1    35.1      -8.3%  -8.3%     -9.9%   -9.9%
Business ^(6)     35.7                                                         39.0
CE
                  $    $       $      $       $      $      $  
Meeting Fees^(2)         -       31.1    1.1       32.3    32.3      5.0%   5.0%      8.8%    8.8%
                  31.1                                                         29.7
In-Meeting        $    $       $      $       $      $      $  
Product Sales            -              0.3                       -1.0%  -1.0%     3.0%    3.0%
^(3)               8.6              8.6                   9.0       9.0        8.7
Meeting           $    $       $      $       $      $      $  
Revenues^(4)             -       39.8    1.5       41.2    41.2      3.6%   3.6%      7.5%    7.5%
                  39.8                                                         38.4
Total             $    $       $      $       $      $      $  
Revenues-Meetings        -       44.7    1.6       46.3    46.3      2.2%   2.2%      5.9%    5.9%
Business ^(6)     44.7                                                         43.8
Internet          $    $       $      $       $      $      $  
Revenues^(5)              -      117.6     0.1      117.6    117.6        17.6%  17.6%     17.7%   17.7%
                  117.6                                                        100.0
Other Revenues    $    $       $      $       $      $      $  
^(7)                     -       32.7   (0.0)      32.7    32.7      -9.2%  -9.2%     -9.3%   -9.3%
                  32.7                                                         36.0
                  $    $        $      $       $      $      $  
Gross Profit           (14.5)      230.5    (0.3)     244.8    230.8        8.6%   2.1%      8.5%    2.3%
                  245.1                                                        225.7
Gross Margin      60.1%              56.5%                 60.0%     56.5%     56.2%
Marketing         $    $       $      $       $      $      $  
Expenses                 -       63.5   (0.1)      63.5    63.5      5.9%   5.9%      5.7%    5.7%
                  63.5                                                         60.0
Selling, General  $                                                          $  
and                   $       $      $       $      $          21.2%  21.2%     21.1%   21.1%
Administrative    59.0      -       59.0   (0.1)      58.9    58.9  48.7
Expenses
                  $    $        $      $       $      $      $  
Operating Income       (14.5)      108.0    (0.1)     122.4    108.4        4.8%   -7.7%     4.6%    -7.4%
                  122.5                                                        117.0
Operating Income  30.0%              26.5%                 30.0%     26.5%     29.1%
Margin
                  $    $       $      $       $      $      $  
Interest expense      (7.1)        23.3     -       30.4    23.3      +100%  78.7%     +100%   78.7%
                  30.4                                                         13.0
                  $    $       $      $       $      $      $  
Net Income            (4.1)        53.9   (0.1)      57.9    54.1      -8.9%  -15.3%    -9.0%   -15.0%
                  58.0                                                         63.7

Note: Totals may not sum due to rounding.
     Excludes the impact of the $14.5 million decrease to cost of revenues and
(1)  the $7.1 million increase to interest expense, related to the settlement
     of the previously disclosed UK self-employment tax litigation.
(2)  "Meeting Fees" are fees that members pay to attend weekly meetings.
(3)  "In-Meeting Product Sales" are sales of products to members in meetings.
(4)  "Meeting Revenues" equal "Meeting Fees" plus "In-Meeting Product Sales".
(5)  "Internet Revenues" are revenues from Internet subscription products and
     from the sale of third-party Internet advertising.
     "Total Revenues-Meetings Business" equal "Meetings Revenues" plus
(6)  revenues from licensing, payments from franchisees, magazine
     subscriptions, third-party advertising in publications and By Mail.
     "Other Revenues" are revenues from licensing, payments from franchisees,
(7)  magazine subscriptions, third-party advertising in publications and By
     Mail.
Note: Amount in the "Other Revenues" category represents the total of "Other
Revenues" for the consolidated company. Portions of this amount are also
included in "Total Revenues-Meetings Business" for the geographies listed
above, therefore the detailed revenues shown will not sum to "Consolidated
Company Revenues".





WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(IN MILLIONS, EXCEPT PERCENTAGES)
UNAUDITED
                                                                                            YTD 2012 Variance
                  YTD 2012                                                        YTD 2011                    2012 Constant
                                                                                                              Currency
                                                                        Adjusted            2012    2012      2012    2012
                                                  Currency    Constant  Constant            vs      vs 2011   vs      vs 2011
                  GAAP      Adjustment  Adjusted  Adjustment  Currency  Currency  GAAP      2011    Adjusted  2011    Adjusted
                            ^(1)
Selected
Financial Data
Consolidated      $       $       $       $       $       $       $       0.4%    0.4%      1.8%    1.8%
Company Revenues  1,826.8     -     1,826.8   24.4      1,851.2  1,851.2  1,819.2
Consolidated      $      $       $      $       $      $      $      -5.6%   -5.6%     -4.4%   -4.4%
Meeting Fees^(2)   934.9      -      934.9    12.2       947.2    947.2    990.3
Consolidated
In-Meeting        $      $       $      $       $      $      $      -10.1%  -10.1%    -8.6%   -8.6%
Product Sales      253.2      -      253.2     4.4      257.6    257.6    281.8
^(3)
NACO
Meeting Fees^(2)  $      $       $      $       $      $      $      -4.9%   -4.9%     -4.8%   -4.8%
                   653.4      -      653.4     0.6      654.0    654.0    686.8
In-Meeting        $      $       $      $       $      $      $   
Product Sales      145.9      -      145.9     0.1      146.0    146.0    157.9   -7.6%   -7.6%     -7.5%   -7.5%
^(3)
Meeting           $      $       $      $       $      $      $      -5.4%   -5.4%     -5.3%   -5.3%
Revenues^(4)       799.3      -      799.3     0.7      800.0    800.0    844.7
Total             $      $       $      $       $      $      $   
Revenues-Meetings  855.0      -      855.0     0.7      855.7    855.7    904.2   -5.4%   -5.4%     -5.4%   -5.4%
Business ^(6)
International
Meeting Fees^(2)  $      $       $      $       $      $      $      -7.2%   -7.2%     -3.4%   -3.4%
                   281.5      -      281.5    11.6       293.2    293.2    303.5
In-Meeting        $      $       $      $       $      $      $   
Product Sales      107.3      -      107.3     4.3      111.6    111.6    123.9   -13.4%  -13.4%    -9.9%   -9.9%
^(3)
Meeting           $      $       $      $       $      $      $      -9.0%   -9.0%     -5.3%   -5.3%
Revenues^(4)       388.9      -      388.9    15.9       404.8    404.8    427.4
Total             $      $       $      $       $      $      $   
Revenues-Meetings  438.6      -      438.6    17.6       456.2    456.2    478.4   -8.3%   -8.3%     -4.6%   -4.6%
Business ^(6)
UK
Meeting Fees^(2)  $      $       $      $       $      $      $      -11.7%  -11.7%    -10.5%  -10.5%
                   104.4      -      104.4     1.5      105.9    105.9    118.3
In-Meeting        $      $       $      $       $      $      $   
Product Sales       46.6     -       46.6    0.7       47.4    47.4    55.3  -15.7%  -15.7%    -14.4%  -14.4%
^(3)
Meeting           $      $       $      $       $      $      $      -13.0%  -13.0%    -11.7%  -11.7%
Revenues^(4)       151.0      -      151.0     2.2      153.3    153.3    173.6
Total             $      $       $      $       $      $      $   
Revenues-Meetings  169.6      -      169.6     2.5      172.1    172.1    192.9   -12.1%  -12.1%    -10.8%  -10.8%
Business ^(6)
CE
Meeting Fees^(2)  $      $       $      $       $      $      $      -0.1%   -0.1%     7.6%    7.6%
                   135.9      -      135.9    10.4       146.3    146.3    136.0
In-Meeting        $      $       $      $       $      $      $   
Product Sales       49.1     -       49.1    3.6       52.7    52.7    52.3  -6.2%   -6.2%     0.7%    0.7%
^(3)
Meeting           $      $       $      $       $      $      $      -1.8%   -1.8%     5.7%    5.7%
Revenues^(4)       185.0      -      185.0    14.0       199.0    199.0    188.3
Total             $      $       $      $       $      $      $   
Revenues-Meetings  207.0      -      207.0    15.4       222.4    222.4    210.3   -1.6%   -1.6%     5.7%    5.7%
Business ^(6)
Internet          $      $       $      $       $      $      $      26.2%   26.2%     27.7%   27.7%
Revenues^(5)       504.3      -      504.3     5.9      510.3    510.3    399.5
Other Revenues    $      $       $      $       $      $      $      -9.0%   -9.0%     -7.8%   -7.8%
^(7)               134.3      -      134.3     1.8      136.1    136.1    147.6
Gross Profit      $       $        $       $       $       $       $       3.4%    2.0%      4.7%    3.4%
                  1,082.8  (14.5)     1,068.2   13.6      1,096.3  1,082.3  1,047.1
Gross Margin      59.3%                 58.5%                 59.2%     58.5%     57.6%
Marketing         $      $       $      $       $      $      $      17.5%   17.5%     19.0%   19.0%
Expenses           343.5      -      343.5     4.4      347.9    347.9    292.4
Selling, General
and               $      $       $      $       $      $      $      9.6%    9.6%      10.8%   10.8%
Administrative     228.5      -      228.5     2.5      230.9    230.9    208.5
Expenses
Operating Income  $      $        $      $       $      $      $      -6.5%   -9.2%     -5.3%   -7.9%
                   510.8   (14.5)      496.3     6.7      517.5    503.4    546.3
Operating Income  28.0%                 27.2%                 28.0%     27.2%     30.0%
Margin
Interest expense  $      $       $      $       $      $      $      51.2%   39.3%     51.2%   39.3%
                    90.5  (7.1)        83.4      -     90.5    83.4    59.9
Net Income        $      $       $      $       $      $      $      -15.6%  -16.9%    -14.2%  -15.4%
                   257.4   (4.1)       253.3     4.1      261.5    257.8    304.9

Note: Totals may not sum due to rounding.
        Excludes the impact of the $14.5 million decrease to cost of revenues
(1)     and the $7.1 million increase to interest expense, related to the
        settlement of the previously disclosed UK self-employment tax
        litigation.
(2)     "Meeting Fees" are fees that members pay to attend weekly meetings.
(3)     "In-Meeting Product Sales" are sales of products to members in
        meetings.
(4)     "Meeting Revenues" equal "Meeting Fees" plus "In-Meeting Product
        Sales".
(5)     "Internet Revenues" are revenues from Internet subscription products
        and from the sale of third-party Internet advertising.
        "Total Revenues-Meetings Business" equal "Meetings Revenues" plus
(6)     revenues from licensing, payments from franchisees, magazine
        subscriptions, third-party advertising in publications and By Mail.
        "Other Revenues" are revenues from licensing, payments from
(7)     franchisees, magazine subscriptions, third-party advertising in
        publications and By Mail.
Note: Amount in the "Other Revenues" category represents the total of "Other
Revenues" for the consolidated company. Portions of this amount are also
included in "Total Revenues-Meetings Business" for the geographies listed
above, therefore the detailed revenues shown will not sum to "Consolidated
Company Revenues".





WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(IN MILLIONS, EXCEPT RATIO)
UNAUDITED
                                                                  Trailing
                                                                  Twelve
                       Q1 2012    Q2 2012    Q3 2012    Q4 2012   Months
Net Debt to EBITDAS
Net Income             $      $      $      $      $     
                        54.6      77.5      67.4       58.0   257.4
Interest               13.2       23.8       23.2       30.4      90.5
Taxes                  34.2       48.5       42.2       34.7      159.5
Depreciation and       8.6        9.0        9.1        10.0      36.6
Amortization
Stock-based            2.0        1.6        2.3        2.9       8.8
Compensation
     EBITDAS           $      $      $      $      $     
                       112.6      160.3      144.1       136.0    553.0
Total Debt                                                        $     
                                                                  2,406.4
Add: Letters of Credit                                            1.2
Less: Cash                                                        62.3
     Net Debt                                                     $     
                                                                  2,345.2
     Net Debt to                                                  4.2 X
     EBITDAS
Note: Totals may not sum due to
rounding.



SOURCE Weight Watchers International, Inc.

Website: http://www.weightwatchers.com
 
Press spacebar to pause and continue. Press esc to stop.