Nutrisystem, Inc. Reports Third Quarter Diluted EPS of $0.32

Nutrisystem, Inc. NTRI  today reported financial results for the third quarter of 2010. Highlights for the third quarter ended September 30, 2010 include:

• Revenues of $121.2 million, a decrease of 4% as compared to $126.4 million for Q3 2009;
• Operating income from continuing operations of $13.9 million, an increase of 3% as compared to $13.5 million for Q3 2009;
• Net income of $9.2 million, an increase of 8% as compared to $8.5 million for Q3 2009;
• Adjusted EBITDA of $19.8 million, an increase of 5% as compared to $18.8 million for Q3 2009. Adjusted EBITDA is defined as income from continuing operations excluding non-cash employee compensation, other income (expense), equity and impairment loss, interest, income taxes and depreciation and amortization;
• Fully diluted earnings per share of $0.32, an increase of 19% as compared to $0.27 in the third quarter of 2009; and
• Cash, cash equivalents and marketable securities of $57.4 million at September 30, 2010 as compared to $62.5 million at December 31, 2009.