Weight Watchers International Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 2 was $258,750, a decline of 95.5% from $5.8 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to 0.1% from 1.8% in the year-earlier period.
Total revenue decreased 20.9% on an annual basis to $259.2 million from $327.8 million, and total operating expenses fell 19.9% year over year to $228.0 million from $284.6 million.
Reported net income totaled a loss of $11.0 million, or a loss of 18 cents per share, compared to income of $4.7 million, or 8 cents per share, in the prior-year period.
For the year, the company's normalized net income totaled 70 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 74 cents.
EPS declined 65.5% from $2.04 in the prior year.
Normalized net income was $41.5 million, a fall of 64.1% from $115.7 million in the prior year.
Full-year total revenue decreased 21.3% from the prior-year period to $1.16 billion from $1.48 billion, and total operating expenses declined 16.6% year over year to $974.3 million from $1.17 billion.
The company said reported net income declined 72.0% on an annual basis to $33.0 million, or 56 cents per share, in the full year, from $117.9 million, or $2.08 per share.