Weight Watchers Announces Fourth Quarter and Full Year 2013 Results and Provides Full Year 2014 Guidance

   Weight Watchers Announces Fourth Quarter and Full Year 2013 Results and
                       Provides Full Year 2014 Guidance

PR Newswire

NEW YORK, Feb. 13, 2014

NEW YORK, Feb. 13, 2014 /PRNewswire/ -- Weight Watchers International, Inc.
(NYSE: WTW) today announced its results for the fourth quarter and full year
of fiscal 2013 and provided full year fiscal 2014 earnings guidance. Full
year and fourth quarter 2013 results include:

  oRevenues of $366.1 million in the quarter, down 11.0% versus the prior
    year period, with total paid weeks down 8.5%
  oCash flow provided by operating activities totaled $323.5 million in
    fiscal 2013
  oEarnings per fully diluted share (EPS) for the quarter were $0.54

"In Q4, we performed in line with our expectations," commented Jim Chambers,
the Company's President and Chief Executive Officer. Chambers added, "While we
are confident that we are on the right track to execute a successful
transformation, 2014 will be a very challenging year as reflected in our 2014
EPS guidance of $1.30 to $1.60."

Q4 2013 Consolidated Summary

                      Net Income (in millions)     Fully Diluted EPS
                      Three Months Ended           Three Months Ended
                      December  December  %        December  December  %
                      28, 2013  29, 2012  Change   28, 2013  29, 2012  Change
Net Income / EPS      $30.8     $58.0     (46.9)%  $0.54     $1.03     (47.2)%
Adjustments
UK Self-Employment    ---       (4.1)              ---       (0.07)
Accrual
Reversal
Adjusted Net Income   $30.8     $53.9     (42.9)%  $0.54     $0.96     (43.2)%
/ 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 2013 net income was $30.8 million versus $58.0 million in the
prior year period. EPS for Q4 2013 was $0.54, which included $0.04 of expense
in connection with the shutdown of our China business, versus $1.03 in the
prior year period. Foreign currency had a de minimis impact on EPS in the
fourth quarter 2013.

Net income and EPS for Q4 2012 were impacted by a previously reported item
that affected 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. Excluding this net benefit (after-tax)
associated with the settlement, net income was $53.9 million and EPS was $0.96
in Q4 2012.

Q4 2013 Global Results

                                                                      % Change
                          Three Months Ended
(in millions except                                                   Adjusted
percentages)                                              % Change    for
                          December 28,    December 29,                Constant
                          2013            2012
                                                                      Currency
Revenues                  $366.1          $411.1*         (11.0)%     (11.1)%
Operating Income          $79.1           $122.5          (35.4)%     (35.3)%


Adjustments
 UK Self-Employment      ---             (14.5)
Accrual Reversal
Adjusted Operating        $79.1           $108.0          (26.7)%     (26.6)%
Income
Total Paid Weeks          43.2            47.2            (8.5)%      N/A
Meeting Paid Weeks        19.5            21.8            (10.9)%     N/A
Online Paid Weeks         23.8            25.4            (6.5)%      N/A
Attendance                8.5             9.8             (13.5)%     N/A
_________________________________

Note: Totals may not sum due to rounding.



*Amount reflects certain reclassifications to revenue. See Consolidated
Statements of Net Income attached to this release for further detail on the
reclassifications.



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

Fourth quarter 2013 revenues decreased 11.1% on a constant currency basis
versus the prior year period. Q4 2013 total paid weeks were down 8.5% as
compared to the prior year period. Online paid weeks declined 6.5%, and
meeting paid weeks declined 10.9%, versus the prior year period. These
declines were driven by the lower active base at the start of the quarter and
lower recruitments in both our businesses versus the prior year period.

Fourth quarter 2013 operating income decreased 35.3% on a constant currency
basis versus the prior year period. Excluding the Q4 2012 $14.5 million
over-accrual reversal benefit associated with the settlement of the UK
self-employment tax litigation, Q4 2013 operating income decreased 26.6% on a
constant currency basis versus the prior year period. This decrease was
primarily driven by lower revenues in the meetings business. In addition, in
Q4 2013, lower marketing expense was almost fully offset by higher general and
administrative costs, driven by a number of one-time costs, including costs
relating to the shutdown of our China business.

Q4 2013 NACO Performance

                                 Three Months Ended                % Change
(in millions except                                                 Adjusted
percentages)                     December    December              for
                                 28, 2013    29, 2012               Constant
                                                         % Change   Currency
Meeting Revenues                 $148.1      $175.1      (15.4)%    (15.0)%
Meeting Paid Weeks               13.1        14.7        (10.8)%    N/A
Attendance                       5.4         6.2         (13.1)%    N/A
_____________________________
See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

Fourth quarter 2013 meeting revenues for the North American meetings business
(NACO) were down 15.0% on a constant currency basis versus the prior year
period driven by a lower active base at the start of the quarter and lower
enrollments. Q4 2013 meeting paid weeks and attendance decreased 10.8% and
13.1%, respectively, versus the prior year period. Franchise acquisitions
benefited NACO meeting revenues by approximately 2.7% in the fourth quarter of
2013.

Q4 2013 International Performance

                                  Three Months Ended                % Change
(in millions except                                                 Adjusted
percentages)                      December     December   % Change  for
                                  28, 2013    29, 2012             Constant
                                                                    Currency
International Meeting Revenues    $74.4        $82.5      (9.9)%    (11.4)%
UK Meeting Revenues               $24.9        $31.8      (21.7)%   (22.5)%
CE Meeting Revenues               $40.5        $39.8      1.9%      (2.6)%
International Meeting Paid                                          
Weeks                             6.3          7.1        (11.1)%
                                                                    N/A
UK Meeting Paid Weeks             2.8          3.5        (19.4)%   N/A
CE Meeting Paid Weeks             2.9          3.0        (1.7)%    N/A
International Attendance          3.1          3.6        (14.1)%   N/A
UK Attendance                     1.4          1.7        (20.5)%   N/A
CE Attendance                     1.4          1.5        (5.7)%    N/A
_____________________________
See "Reconciliation of Non-GAAP Financial Measures" attached to this release
for further detail on adjustments to GAAP financial measures.

Fourth quarter 2013 International meeting revenues were down 11.4% on a
constant currency basis versus the prior year period, primarily driven by
lower revenues in the United Kingdom (UK).

  oUK: Fourth quarter 2013 UK meeting revenues decreased 22.5% on a constant
    currency basis versus the prior year period. Fourth quarter 2013 results
    were negatively impacted by a difficult competitive climate. Fourth
    quarter 2013 meeting paid weeks declined 19.4% versus the prior year
    period.
  oCE: Fourth quarter 2013 Continental Europe (CE) meeting revenues
    decreased 2.6% on a constant currency basis versus the prior year period,
    with a decline in meeting paid weeks of 1.7% versus the prior year period.
    These declines in revenues and volumes were driven by the lower active
    base at the start of the quarter and lower enrollments as compared to the
    prior year period.

Q4 2013 WeightWatchers.com Performance

                                                                  % Change
                           Three Months Ended
(in millions except                                     % Change  Adjusted for
percentages and as noted)  December 28,   December 29,            Constant
                           2013           2012
                                                                  Currency
Internet Revenues          $111.4         $117.6        (5.2)%    (5.3)%
Online Paid Weeks          23.8           25.4          (6.5)%    N/A
End of Period Active
Online Subscribers (in     1,746.2        1,871.4       (6.7)%    N/A
thousands)
_________________________________

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

Fourth quarter 2013 Internet revenues declined 5.3% on a constant currency
basis versus the prior year period.This decline in Internet revenues was a
deceleration from the growth of 0.9%, 6.6% and 10.9% experienced in Q3, Q2 and
Q1 2013 versus the respective prior year periods. This deceleration was
driven primarily by declining sign-ups in the US business which continued
through the quarter, as the commercial weight loss category continued to be
impacted by increasing consumer trial of activity monitors and free apps.
Online paid weeks declined 6.5%, and end of period active Online subscribers
declined 6.7%, versus Q4 2012.

Full Year 2013 Summary

                        Net Income (in millions)     Fully Diluted EPS
                        Twelve Months                Twelve Months
                        Ended                        Ended
                        December  December  %        December  December  %
                        28, 2013  29, 2012  Change   28, 2013  29, 2012  Change
Net Income / EPS        $204.7    $257.4    (20.5)%  $3.63     $4.23     (14.1)%
Adjustments
Early Extinguishment                                        
of Debt (after tax)
                        13.3      ---                0.24      ---
UK Self-Employment                                          
Accrual Reversal
                        ---       (4.1)              ---       (0.07)
Adjusted Net Income /   $218.1    $253.3    (13.9)%  $3.87     $4.16     (7.0)%
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 2013 net income was $204.7 million versus $257.4 million in
the prior year. EPS for the full year of fiscal 2013 was $3.63 versus $4.23
in the prior year.

Net income and EPS for the full year of fiscal 2013 were impacted by a $21.7
million ($13.3 million after tax), or $0.24 per fully diluted share, early
extinguishment of debt charge recorded in the second quarter resulting from
the write-off of fees associated with the Company's April 2013 debt
refinancing. Excluding this early extinguishment of debt charge (after tax),
net income would have been $218.1 million and EPS would have been $3.87 for
the full year of fiscal 2013.

EPS in the full year of fiscal 2013 continued to benefit from the completion
of the Company's previously disclosed tender offer and related stock
repurchase transaction that took place in March and April 2012, respectively.
Foreign currency had a de minimis impact on EPS for the full year of fiscal
2013.

Full Year 2013 Global Results

                                                                      % Change
                          Twelve Months Ended
(in millions except                                                   Adjusted
percentages)                                              % Change    for
                          December 28,    December 29,                Constant
                          2013            2012
                                                                      Currency
Revenues                  $1,724.1*       $1,839.4*       (6.3)%      (6.2)%
Operating Income          $460.8          $510.8          (9.8)%      (9.7)%
Adjustments
 UK Self-Employment      ---             (14.5)
Accrual Reversal
Adjusted Operating        460.8           496.3           (7.2)%      (7.0)%
Income
Total Paid Weeks          202.5           210.7           (3.9)%      N/A
Meeting Paid Weeks        89.1            99.2            (10.1)%     N/A
Online Paid Weeks         113.4           111.5           1.7%        N/A
Attendance                42.9            50.7            (15.5)%     N/A
__________________________________

Note: Totals may not sum due to rounding.



*Amounts reflect certain reclassifications to revenue. See Consolidated
Statements of Net Income attached to this release for further detail on the
reclassifications.



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

Full year fiscal 2013 revenues decreased 6.2% on a constant currency basis
versus the prior year. This decrease resulted from lower revenues in the
meetings business as it experienced weaker volumes globally, most notably in
North America and the UK.This decline in meetings business revenues was
partially offset by modest revenue growth in the WeightWatchers.com
business.

Full year fiscal 2013 total paid weeks were down 3.9% as compared to the prior
year. Online paid weeks increased 1.7% versus the prior year, while meeting
paid weeks declined 10.1% versus the prior year.

Full year fiscal 2013 operating income decreased 9.7% 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 fiscal 2013
decreased by 7.0% on a constant currency basis versus the prior year. Lower
marketing expense, primarily from the elimination of inefficient digital
advertising and the absence of a men's campaign in the United States,
partially offset lower revenues in the meetings business.

Full Year Fiscal 2014 Earnings Guidance
The Company provided full year 2014 earnings guidance of between $1.30 and
$1.60 per fully diluted share. This guidance incorporates the fact that
fiscal 2014 includes a 53^rd week, which bridges the last week of December
2014 and the first week of January 2015 and has an expected negative $0.04
impact on the full year EPS. During the first quarter of fiscal 2014, the
Company intends to finalize plans to resize its organization. The costs
associated with this plan are not included in the above earnings guidance.

Fourth Quarter and Full Year 2013 Conference Call
The Company has scheduled a conference call today at 5:00 p.m. ET. During the
conference call, Jim Chambers, President and Chief Executive Officer of the
Company, and Nick Hotchkin, Chief Financial Officer of the Company, will
discuss fourth quarter and full year 2013 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. Net income and earnings per fully diluted
share with respect to the full year of fiscal 2013 are discussed in this
release both as reported (on a GAAP basis) and as adjusted (on a non-GAAP
basis) to exclude the impact from the early extinguishment of debt charge
associated with the Company's previously reported debt refinancing. 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 of the accrual reversal associated with the settlement
of the Company's previously reported UK self-employment tax litigation.
Earnings before interest, taxes, depreciation, amortization and stock-based
compensation (EBITDAS) is presented in the attachments to this release. 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 40,000 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 provider of these products 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 or impede people from gathering with others
or accessing resources; 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).



WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN MILLIONS)
UNAUDITED
                                        December 28,        December 29,
                                        2013                2012
ASSETS
Current assets                          $      315.7  $      218.0
Property and equipment, net             87.1                71.8
Goodwill, franchise rights and other    961.4               898.9
intangible assets, net
Deferred financing costs, other         44.7                29.9
 TOTAL ASSETS                       $     1,408.9   $     1,218.6
LIABILITIES AND TOTAL DEFICIT
Current liabilities                     $      345.8  $      447.9
Long-term debt                          2,358.0             2,291.7
Deferred income taxes, other            179.7               144.5
 TOTAL LIABILITIES                 2,883.5             2,884.1
Shareholders' deficit                   (1,474.6)           (1,665.5)
 TOTAL LIABILITIES AND TOTAL        $     1,408.9   $     1,218.6
DEFICIT



WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
UNAUDITED
                        Three Months Ended
                        December 28,
                        2013           December 29, 2012
                                                     Impact of
                                                     UK Self-
                        Reported       Reported      Employment     Adjusted
                        Results        Results *     Settlement     Results
Meeting fees, net       $         $        $        $    
                         185.8        210.7         -         210.7
Product sales and       68.9           82.9          -              82.9
other, net
Internet revenues       111.4          117.6         -              117.6
      Revenues, net     366.1          411.1         -              411.1
Cost of meetings,       147.9          147.2         14.5           161.8
products and other
Cost of Internet        16.5           15.9          -              15.9
revenues
      Cost of revenues  164.3          163.2         14.5           177.7
      Gross profit      201.8          248.0         (14.5)         233.4
Marketing expenses      54.5           66.0          -              66.0
Selling, general and    68.1           59.4          -              59.4
administrative expenses
      Operating income  79.1           122.5         (14.5)         108.0
Interest expense        26.8           30.4          (7.1)          23.3
Other income, net       (0.2)          (0.6)         -              (0.6)
      Income before     52.5           92.7          (7.4)          85.3
      income taxes
Provision for income    21.7           34.7          (3.3)          31.4
taxes
                        $         $        $        $    
      Net income          30.8        58.0       (4.1)        
                                                                    53.9
Earnings Per Share
                        $         $        $        $    
      Basic               0.55        1.04      (0.07)         
                                                                    0.97
                        $         $        $        $    
      Diluted             0.54        1.03      (0.07)         
                                                                    0.96
Weighted average common
shares outstanding:
      Basic             56.4           55.7          55.7           55.7
      Diluted           56.6           56.2          56.2           56.2
Dividends declared per  $         $                       $    
common share                -       0.18                      
                                                                    0.18
Note: Totals may not sum due to rounding.
*Certain brand marketing funds received from licensees have been reclassified
to revenue as opposed to being recorded as an offset to expense, increasing
fourth quarter 2012 Product sales and other, Cost of meetings, products and
other, Gross profit, Marketing expenses and Selling, general and
administrative expenses as follows:
      Product sales and other, net     $     
                                          3.2
      Cost of meetings, products and   0.3
      other
      Gross profit                     2.9
      Marketing expenses               2.5
      Selling, general and             0.4
      administrative expenses



WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
UNAUDITED
                Twelve Months Ended
                December 28, 2013                   December 29, 2012
                          Impact of                           Impact of
                          Early                               UK Self-
                Reported  Extinguishment  Adjusted  Reported  Employment  Adjusted
                Results   of Debt Charge  Results   Results   Settlement  Results
                *                                   *
Meeting fees,   $      $         $      $      $       $   
net                        -                              
                851.6                    851.6    934.9    -          934.9
Product sales   350.3     -               350.3     400.2     -           400.2
and other, net
Internet        522.2     -               522.2     504.3     -           504.3
revenues
 Revenues, net  1,724.1   -               1,724.1   1,839.4   -           1,839.4
Cost of
meetings,       652.3     -               652.3     682.0     14.5        696.5
products and
other
Cost of
Internet        70.7      -               70.7      63.6      -           63.6
revenues
 Cost of        723.0     -               723.0     745.6     14.5        760.2
 revenues
 Gross profit   1,001.1   -               1,001.1   1,093.8   (14.5)      1,079.3
Marketing       295.6     -               295.6     353.7     -           353.7
expenses
Selling,
general and     244.7     -               244.7     229.3     -           229.3
administrative
expenses
 Operating      460.8     -               460.8     510.8     (14.5)      496.3
 income
Interest        103.1     -               103.1     90.5      (7.1)       83.4
expense
Other expense,  0.6       -               0.6       2.0       -           2.0
net
Early
extinguishment  21.7      (21.7)          -         1.3       -           1.3
of debt
 Income before  335.4     21.7            357.1     417.0     (7.4)       409.5
 income taxes
Provision for   130.6     8.3             139.0     159.5     (3.3)       156.2
income taxes
                $      $         $      $      $       $   
 Net income              13.3                               
                204.7                    218.1    257.4    (4.1)       253.3
Earnings Per
Share
                $      $         $      $      $       $   
 Basic                  0.24                               
                3.65                     3.88     4.27     (0.07)      4.20
                $      $         $      $      $       $   
 Diluted                0.24                               
                3.63                     3.87     4.23     (0.07)      4.16
Weighted
average common
shares
outstanding:
 Basic          56.1      56.1            56.1      60.3      60.3        60.3
 Diluted        56.4      56.4            56.4      60.9      60.9        60.9
Dividends       $                      $      $                  $   
declared per                                                     
common share    0.53                     0.53     0.70                 0.70
Note: Totals may not sum due to rounding.
*Certain brand marketing funds received from licensees have been reclassified to
revenue as opposed to being recorded as an offset to expense, increasing full
fiscal year 2013 and full fiscal year 2012 Product sales and other, Cost of
meetings, products and other, Gross profit, Marketing expenses and Selling,
general and administrative expenses as follows:
                2013                                2012
 Product sales  $                                $   
 and other, net                                    
                12.1                               12.6
 Cost of
 meetings,      1.1                                 1.6
 products and
 other
 Gross profit   11.0                                11.0
 Marketing      10.3                                10.2
 expenses
 Selling,
 general and    0.7                                 0.9
 administrative
 expenses



WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
OPERATIONAL STATISTICS
UNAUDITED
                                            Three Months Ended
                                            December 28,  December 29,
                                            2013          2012
Total Revenues (in $ millions)
Meeting Fees                              185.8         210.7
In-Meeting Product Sales                  36.7          46.9
Internet Revenues                         111.4         117.6
All Other (1)                             32.2          35.9
Total Revenues                            366.1         411.1
North America (in $ millions)
Meeting Fees                              128.4         147.1
In-Meeting Product Sales                  19.8          28.0
Total                                     148.1         175.1
International (in $ millions)
Meeting Fees                              57.5          63.6
In-Meeting Product Sales                  16.9          19.0
Total                                     74.4          82.5
Paid Weeks (in millions) (2)
North America Meeting Paid Weeks          13.1          14.7
UK Meeting Paid Weeks                     2.8           3.5
CE Meeting Paid Weeks                     2.9           3.0
Other Meeting Paid Weeks                  0.6           0.6
Sub-total Meeting Paid Weeks              19.5          21.8
Online Paid Weeks                         23.8          25.4
Total Paid Weeks                          43.2          47.2
Attendance (in millions)
North America                             5.4           6.2
UK                                        1.4           1.7
CE                                        1.4           1.5
Other                                     0.3           0.3
Total Attendance                          8.5           9.8
WeightWatchers.com (in thousands)
End of Period Active Online Subscribers   1,746.2       1,871.4

Note: Totals may not sum due to rounding.
    Certain brand marketing funds received from licensees have been
(1) reclassified to revenue as opposed to being recorded as an offset to
    expense, increasing fourth quarter 2012 All Other revenues by $3.2
    million.
    The Paid Week metric reports total paid weeks by Weight Watchers customers
    in Company-owned operations for a given period. For meetings, Paid Weeks
(2) 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 28,  December 29,
                                            2013          2012
Total Revenues (in $ millions)
Meeting Fees                              851.6         934.9
In-Meeting Product Sales                  212.0         253.2
Internet Revenues                         522.2         504.3
All Other (1)                             138.3         146.9
Total Revenues                            1,724.1       1,839.4
North America (in $ millions)
Meeting Fees                              595.1         653.4
In-Meeting Product Sales                  119.1         145.9
Total                                     714.2         799.3
International (in $ millions)
Meeting Fees                              256.5         281.5
In-Meeting Product Sales                  92.9          107.3
Total                                     349.4         388.9
Paid Weeks (in millions) (2)
North America Meeting Paid Weeks          59.7          66.0
UK Meeting Paid Weeks                     13.7          16.9
CE Meeting Paid Weeks                     13.2          13.4
Other Meeting Paid Weeks                  2.6           2.9
Sub-total Meeting Paid Weeks              89.1          99.2
Online Paid Weeks                         113.4         111.5
Total Paid Weeks                          202.5         210.7
Attendance (in millions)
North America                             27.2          31.9
UK                                        7.5           9.7
CE                                        6.8           7.4
Other                                     1.4           1.7
Total Attendance                          42.9          50.7
WeightWatchers.com (in thousands)
End of Period Active Online Subscribers   1,746.2       1,871.4

Note: Totals may not sum due to rounding.
             Certain brand marketing funds received from licensees have been
             reclassified to revenue as opposed to being recorded as an offset
(1)          to expense, increasing full fiscal year 2013 and full fiscal
             year2012 All Other revenues by $12.1 million and $12.6 million,
             respectively.
             The Paid Week metric reports total paid weeks by Weight Watchers
             customers in Company-owned operations for a given period. For
(2)          meetings, 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 2013 Variance
                  Q4 2013                      Q4 2012                                        2013 Constant
                                                                                              Currency
                                                                            2013    2013      2013    2013
                         Currency    Constant                               vs      vs 2012   vs      vs 2012
                  GAAP   Adjustment  Currency  GAAP   Adjustment  Adjusted  2012    Adjusted  2012    Adjusted
                                               ^(1)   ^(2)
Selected
Financial Data
Consolidated      $    $       $      $    $       $   
Company Revenues        (0.5)     365.7                      -11.0%  -11.0%    -11.1%  -11.1%
                  366.1                        411.1  -          411.1
Consolidated      $    $       $      $    $       $   
Meeting Fees ^(3)       (0.2)     185.6                      -11.8%  -11.8%    -11.9%  -11.9%
                  185.8                        210.7  -          210.7
Consolidated      $                          $    $       $   
In-Meeting            $       $                       -21.8%  -21.8%    -22.3%  -22.3%
Product Sales     36.7    (0.2)      36.5  46.9   -          46.9
^(4)
NACO
                  $    $       $      $    $       $   
Meeting Fees ^(3)        0.7      129.1                      -12.8%  -12.8%    -12.3%  -12.3%
                  128.4                        147.1  -          147.1
In-Meeting        $    $       $      $    $       $   
Product Sales           0.1       19.9                   -29.3%  -29.3%    -28.9%  -28.9%
^(4)              19.8                         28.0   -          28.0
Meeting Revenues  $    $       $      $    $       $   
^(5)                     0.8      148.9                      -15.4%  -15.4%    -15.0%  -15.0%
                  148.1                        175.1  -          175.1
Total             $    $       $      $    $       $   
Revenues-Meetings        0.8      164.2                      -14.7%  -14.7%    -14.2%  -14.2%
Business ^(6)     163.4                        191.5  -          191.5
International
                  $    $       $      $    $       $   
Meeting Fees ^(3)      (0.9)      56.5                   -9.6%   -9.6%     -11.1%  -11.1%
                  57.5                         63.6   -          63.6
In-Meeting        $    $       $      $    $       $   
Product Sales          (0.3)      16.6                   -10.8%  -10.8%    -12.5%  -12.5%
^(4)              16.9                         19.0   -          19.0
Meeting           $    $       $      $    $       $   
Revenues^(5)           (1.2)      73.1                   -9.9%   -9.9%     -11.4%  -11.4%
                  74.4                         82.5   -          82.5
Total             $    $       $      $    $       $   
Revenues-Meetings      (1.1)      85.9                   -8.8%   -8.8%     -10.0%  -10.0%
Business ^(6)     87.0                         95.4   -          95.4
UK
                  $    $       $      $    $       $   
Meeting Fees ^(3)      (0.2)      18.2                   -21.8%  -21.8%    -22.7%  -22.7%
                  18.4                         23.5   -          23.5
In-Meeting        $    $       $      $    $       $   
Product Sales^(4)      (0.1)                            -21.4%  -21.4%    -22.2%  -22.2%
                   6.5              6.4        8.2  -           8.2
Meeting           $    $       $      $    $       $   
Revenues^(5)           (0.3)      24.6                   -21.7%  -21.7%    -22.5%  -22.5%
                  24.9                         31.8   -          31.8
Total             $    $       $      $    $       $   
Revenues-Meetings      (0.3)      29.1                   -19.0%  -19.0%    -20.0%  -20.0%
Business^(6)      29.4                         36.3   -          36.3
CE
                  $    $       $      $    $       $   
Meeting Fees ^(3)      (1.4)      30.3                   1.8%    1.8%      -2.7%   -2.7%
                  31.7                         31.1   -          31.1
In-Meeting        $    $       $      $    $       $   
Product Sales^(4)      (0.4)                            2.6%    2.6%      -2.1%   -2.1%
                   8.9              8.5        8.6  -           8.6
Meeting Revenues  $    $       $      $    $       $   
^(5)                   (1.8)      38.7                   1.9%    1.9%      -2.6%   -2.6%
                  40.5                         39.8   -          39.8
Total             $    $       $      $    $       $   
Revenues-Meetings      (2.0)      43.8                   1.4%    1.4%      -3.1%   -3.1%
Business^(6)      45.8                         45.2   -          45.2
Internet          $    $       $      $    $       $   
Revenues^(7)            (0.1)     111.3                      -5.2%   -5.2%     -5.3%   -5.3%
                  111.4                        117.6  -          117.6
Other Revenues    $    $       $      $    $       $   
^(8)                    0.1       32.3                   -10.4%  -10.4%    -10.1%  -10.1%
                  32.2                         35.9   -          35.9
                  $    $       $      $    $       $   
Gross Profit            (0.2)     201.6                        -18.6%  -13.6%    -18.7%  -13.6%
                  201.8                        248.0  (14.5)      233.4
Gross Margin      55.1%              55.1%     60.3%              56.8%
Marketing         $    $       $      $    $       $   
Expenses               (0.2)      54.3                   -17.4%  -17.4%    -17.8%  -17.8%
                  54.5                         66.0   -          66.0
Selling, General  $                          $    $       $   
and                   $       $                       14.7%   14.7%     14.5%   14.5%
Administrative    68.1    (0.1)      68.0  59.4   -          59.4
Expenses
                  $    $       $      $    $       $   
Operating Income        0.1       79.2                       -35.4%  -26.7%    -35.3%  -26.6%
                  79.1                         122.5  (14.5)      108.0
Operating Income  21.6%              21.7%     29.8%              26.3%
Margin
                  $    $       $      $    $       $   
Net Income              0.1       30.9                    -46.9%  -42.9%    -46.8%  -42.7%
                  30.8                         58.0   (4.1)       53.9
Note: Totals may not sum due to rounding.
           Certain brand marketing funds received from licensees have been reclassified to revenue as opposed
(1)        to being recorded as an offset to expense, increasing fourth quarter 2012 Other Revenues $3.2
           million, Gross Profit $2.9 million, Marketing Expenses $2.5 million and Selling, General and
           Administrative expenses $0.4 million.
           Excludes the impact of the $14.5 million decrease to cost of revenues and the $7.1 million increase
(2)        to interest expense, related to the settlement of the previously disclosed UK self-employment tax
           litigation.
(3)        "Meeting Fees" are fees that members pay to attend weekly meetings.
(4)        "In-Meeting Product Sales" are sales of products to members in meetings.
(5)        "Meeting Revenues" equal "Meeting Fees" plus "In-Meeting Product Sales".
(6)        "Total Revenues-Meetings Business" equal "Meetings Revenues" plus revenues from licensing, payments
           from franchisees, magazine subscriptions, third-party advertising in publications and By Mail.
(7)        "Internet Revenues" are revenues from Internet subscription products and from the sale of
           third-party Internet advertising.
(8)        "Other Revenues" are revenues from licensing, payments from 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 PERCENTAGES)
UNAUDITED
                                                                                                                  YTD 2013 Variance
                  YTD 2013                                                        YTD 2012                                          2013 Constant
                                                                                                                                    Currency
                                                                                                                          2013              2013
                                                                        Adjusted                                  2013    Adjusted  2013    Adjusted
                                                  Currency    Constant  Constant                                  vs      vs 2012   vs      vs 2012
                  GAAP      Adjustment  Adjusted  Adjustment  Currency  Currency  GAAP      Adjustment  Adjusted  2012    Adjusted  2012    Adjusted
                  ^(1)      ^(2)                                                  ^(1)      ^(3)
Selected
Financial Data
Consolidated      $       $       $       $       $       $       $       $       $       -6.3%   -6.3%     -6.2%   -6.2%
Company Revenues  1,724.1    -      1,724.1    1.0     1,725.1  1,725.1  1,839.4     -     1,839.4
Consolidated      $      $       $      $       $      $      $      $       $      -8.9%   -8.9%     -8.8%   -8.8%
Meeting Fees ^(4)  851.6     -       851.6     0.7      852.3    852.3    934.9      -      934.9
Consolidated
In-Meeting        $      $       $      $       $      $      $      $       $      -16.3%  -16.3%    -16.3%  -16.3%
Product Sales      212.0     -       212.0    (0.0)     212.0    212.0    253.2      -      253.2
^(5)
NACO
Meeting Fees ^(4) $      $       $      $       $      $      $      $       $      -8.9%   -8.9%     -8.7%   -8.7%
                   595.1     -       595.1     1.5      596.6    596.6    653.4      -      653.4
In-Meeting        $      $       $      $       $      $      $      $       $   
Product Sales      119.1     -       119.1     0.2      119.3    119.3    145.9      -      145.9   -18.4%  -18.4%    -18.2%  -18.2%
^(5)
Meeting Revenues  $      $       $      $       $      $      $      $       $      -10.6%  -10.6%    -10.4%  -10.4%
^(6)               714.2     -       714.2     1.7      715.9    715.9    799.3      -      799.3
Total             $      $       $      $       $      $      $      $       $   
Revenues-Meetings  774.4     -       774.4     1.7      776.2    776.2    860.6      -      860.6   -10.0%  -10.0%    -9.8%   -9.8%
Business ^(7)
International
Meeting Fees ^(4) $      $       $      $       $      $      $      $       $      -8.9%   -8.9%     -9.2%   -9.2%
                   256.5     -       256.5    (0.8)     255.7    255.7    281.5      -      281.5
In-Meeting        $      $       $      $       $      $      $      $       $   
Product Sales       92.9    -        92.9   (0.2)      92.7    92.7   107.3      -      107.3   -13.5%  -13.5%    -13.7%  -13.7%
^(5)
Meeting           $      $       $      $       $      $      $      $       $      -10.1%  -10.1%    -10.4%  -10.4%
Revenues^(6)       349.4     -       349.4    (1.1)     348.4    348.4    388.9      -      388.9
Total             $      $       $      $       $      $      $      $       $   
Revenues-Meetings  406.1     -       406.1    (0.6)     405.5    405.5    445.8      -      445.8   -8.9%   -8.9%     -9.0%   -9.0%
Business ^(7)
UK
Meeting Fees ^(4) $      $       $      $       $      $      $      $       $      -18.4%  -18.4%    -17.1%  -17.1%
                    85.2    -        85.2    1.3       86.5    86.5   104.4      -      104.4
In-Meeting        $      $       $      $       $      $      $      $       $      -22.9%  -22.9%    -21.8%  -21.8%
Product Sales^(5)   35.9    -        35.9    0.5       36.5    36.5    46.6     -       46.6
Meeting           $      $       $      $       $      $      $      $       $      -19.8%  -19.8%    -18.6%  -18.6%
Revenues^(6)       121.1     -       121.1     1.9      123.0    123.0    151.0      -      151.0
Total             $      $       $      $       $      $      $      $       $   
Revenues-Meetings  143.1     -       143.1     2.0      145.1    145.1    174.2      -      174.2   -17.9%  -17.9%    -16.7%  -16.7%
Business^(7)
CE
Meeting Fees ^(4) $      $       $      $       $      $      $      $       $      1.0%    1.0%      -1.8%   -1.8%
                   137.3     -       137.3    (3.9)     133.4    133.4    135.9      -      135.9
In-Meeting        $      $       $      $       $      $      $      $       $      -2.1%   -2.1%     -4.5%   -4.5%
Product Sales^(5)   48.0    -        48.0   (1.2)      46.9    46.9    49.1     -       49.1
Meeting Revenues  $      $       $      $       $      $      $      $       $      0.2%    0.2%      -2.6%   -2.6%
^(6)               185.4     -       185.4    (5.1)     180.3    180.3    185.0      -      185.0
Total             $      $       $      $       $      $      $      $       $   
Revenues-Meetings  208.1     -       208.1    (5.6)     202.6    202.6    208.0      -      208.0   0.1%    0.1%      -2.6%   -2.6%
Business^(7)
Internet          $      $       $      $       $      $      $      $       $      3.5%    3.5%      3.5%    3.5%
Revenues^(8)       522.2     -       522.2    (0.3)     522.0    522.0    504.3      -      504.3
Other Revenues    $      $       $      $       $      $      $      $       $      -5.9%   -5.9%     -5.5%   -5.5%
^(9)               138.3     -       138.3     0.5      138.8    138.8    146.9      -      146.9
Gross Profit      $       $       $       $       $       $       $       $       $       -8.5%   -7.2%     -8.5%   -7.2%
                  1,001.1    -      1,001.1    0.3     1,001.4  1,001.4  1,093.8  (14.5)     1,079.3
Gross Margin      58.1%                 58.1%                 58.0%     58.0%     59.5%                 58.7%
Marketing         $      $       $      $       $      $      $      $       $      -16.4%  -16.4%    -16.5%  -16.5%
Expenses           295.6     -       295.6    (0.5)     295.2    295.2    353.7      -      353.7
Selling, General
and               $      $       $      $       $      $      $      $       $      6.7%    6.7%      6.8%    6.8%
Administrative     244.7     -       244.7     0.2      244.9    244.9    229.3      -      229.3
Expenses
Operating Income  $      $       $      $       $      $      $      $       $      -9.8%   -7.2%     -9.7%   -7.0%
                   460.8     -       460.8     0.5      461.3    461.3    510.8   (14.5)      496.3
Operating Income  26.7%                 26.7%                 26.7%     26.7%     27.8%                 27.0%
Margin
Net Income        $      $       $      $       $      $      $      $       $      -20.5%  -13.9%    -20.3%  -13.8%
                   204.7    13.3       218.1     0.3      205.1    218.4    257.4    (4.1)     253.3
Note: Totals may not sum due to rounding.
           Certain brand marketing funds received from licensees have been reclassified to revenue as opposed to being recorded as an offset to
(1)        expense, increasing full fiscal year 2013 Other Revenues $12.1 million, Gross Profit $11.0 million, Marketing Expenses $10.3 million and
           Selling, General and Administrative expenses $0.7 million and full fiscal year 2012 Other Revenues $12.6 million, Gross Profit $11.0
           million, Marketing Expenses $10.2 million and Selling, General and Administrative expenses $0.9 million.
(2)        Excludes the impact of the $21.7 million ($13.3 million after tax) early extinguishment of debt charge recorded in the second quarter of
           fiscal 2013 resulting from the write-off of fees associated with the Company's April 2013 debt refinancing.
(3)        Excludes the impact of the $14.5 million decrease to cost of revenues and the $7.1 million increase to interest expense, related to the
           settlement of the previously disclosed UK self-employment tax litigation.
(4)        "Meeting Fees" are fees that members pay to attend weekly meetings.
(5)        "In-Meeting Product Sales" are sales of products to members in meetings.
(6)        "Meeting Revenues" equal "Meeting Fees" plus "In-Meeting Product Sales".
(7)        "Total Revenues-Meetings Business" equal "Meetings Revenues" plus revenues from licensing, payments from franchisees, magazine
           subscriptions, third-party advertising in publications and By Mail.
(8)        "Internet Revenues" are revenues from Internet subscription products and from the sale of third-party Internet advertising.
(9)        "Other Revenues" are revenues from licensing, payments from 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 2013    Q2 2013    Q3 2013    Q4 2013   Months
Net Debt to EBITDAS
Net Income              $      $      $      $      $     
                         48.8      64.9      60.3       30.8   204.7
Interest                22.6       26.9       26.9       26.8      103.1
Taxes                   30.5       40.7       37.7       21.7      130.6
Depreciation and        10.5       11.0       11.6       11.8      44.9
Amortization
Stock-based             2.0        0.2        0.3        1.7       4.3
Compensation
     EBITDAS            $      $      $      $      $     
                        114.3      143.7      136.7        92.9   487.6
Total Debt                                                         $     
                                                                   2,388.0
Add: Letters of Credit                                             1.6
Less: Cash                                                         174.6
     Net Debt                                                      $     
                                                                   2,215.0
     Net Debt to                                                   4.5 X
     EBITDAS
Note: Totals may not sum due to rounding.



Contact Information:

Investors:
Brainerd Communicators, Inc.
Corey Kinger
(212) 986-6667



SOURCE Weight Watchers International, Inc.

Website: http://www.weightwatchersinternational.com
 
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