Weight Watchers Beats Estimates; Raises Guidance (WTW)

Weight Watchers International, Inc. WTW reports Q2 earnings of $0.73 versus estimates of $0.72. Weight Watchers International, Inc. reports Q2 revenues of $372.5 million versus estimates of $336.87 million. Revenues increased 1.1% year over year. The company also said that Internet revenues grew 20.6% and the Weight Watchers Online active subscriber base passed the 1 million person milestone. "The second quarter 2010 results of the Weight Watchers business improved significantly after a disappointing first quarter," commented David Kirchhoff, President and Chief Executive Officer of the Company. "In the second quarter, we saw acceleration of revenue growth in our WeightWatchers.com business and substantial stabilization of our North American meeting business as a result of strong spring marketing campaigns. This is all particularly gratifying as most of our planned growth initiatives will not provide their positive contribution until we move into fiscal 2011." "Regarding our EPS outlook for the year," added Kirchhoff, "we are raising the lower end of our EPS range by $0.10 to $2.35 while keeping the upper end at $2.50." Shares of WTW are higher in the after-hours by 1.45%.