MINNEAPOLIS - July 13, 2016 - (BUSINESS WIRE) - Winmark Corporation (Nasdaq: WINA) announced today net income for the quarter ended June 25, 2016 of $5,394,300 (or $1.25 per share diluted) compared to net income of $4,751,400 (or $1.00 per share diluted) in the second quarter of 2015. For the six months ended June 25, 2016, net income was $9,957,200 (or $2.31 per share diluted) compared to net income of $10,805,700 (or $2.18 per share diluted) for the same period last year.
“The second quarter was a strong one for Winmark.” stated Brett D. Heffes, Chief Executive Officer. “Steady franchisee performance, increased leasing activity and sound expense control combined to deliver outstanding growth in operating income and per share results.”
Winmark Corporation creates, supports and finances business. At June 25, 2016, there were 1,169 franchises in operation under the brands Plato's Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. An additional 74 retail franchises have been awarded but are not open. In addition, at June 25, 2016, the Company had a lease portfolio equal to $37.0 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.