MINNEAPOLIS - April 13, 2016 - (BUSINESS WIRE) - Winmark Corporation (Nasdaq: WINA) announced today net income for the quarter ended March 26, 2016 of $4,562,900 (or $1.06 per share diluted) compared to net income of $6,054,300 (or $1.17 per share diluted) in the first quarter of 2015.
Brett D. Heffes, Chief Executive Officer, noted, “During the first quarter, our franchising business experienced modest royalty growth and the timing of customer activity in our leasing portfolio created variability in our results.”
Winmark Corporation creates, supports and finances business. At March 26, 2016, there were 1,154 franchises in operation under the brands Plato's Closet®, Once Upon A Child®, Play It Again Sports®, Music Go Round® and Style Encore®. An additional 84 retail franchises have been awarded but are not open. In addition, at March 26, 2016, the Company had a lease portfolio equal to $38.3 million.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.
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SOURCE Winmark Corporation
Brett D. Heffes
Winmark Corporation
763-520-8500
Winmark Corporation is a recognized leader in franchise-owned and operated business opportunities.