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Weight Watchers swings to profit in fiscal Q1

Weight Watchers International Inc. said its normalized net income for the fiscal first quarter ended April 1 came to 1 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share result swung to a profit from the prior-year loss of 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $980,880, compared with a loss of $10.2 million in the prior-year period.

The normalized profit margin increased to 0.3% from negative 3.3% in the year-earlier period.

Total revenue climbed 7.2% on an annual basis to $329.1 million from $306.9 million, and total operating expenses rose on an annual basis to $298.8 million from $293.4 million.

Reported net income totaled $10.6 million, or 16 cents per share, compared to a loss of $10.8 million, or a loss of 17 cents per share, in the year-earlier period.