The Skinny on Weight Watchers

By Eric Wahlgren

FAT CHANCE. In the third quarter, net revenues climbed 15%, to $217.5 million, from $189.2 million in the year-ago quarter. (Meeting fees accounted for about 65% of revenues, with sales of books, "points" calculators, and other products making up 29%). Operating income was essentially flat, meeting Wall Street estimates of $74 million, or 38 cents a share, vs. $74.4 million, or 35 cents a share, in the year-earlier quarter. Net profit, however, fell 69% as Weight Watchers reduced debt.

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