MINNEAPOLIS - (BUSINESS WIRE) - July 18, 2018 - Winmark Corporation (Nasdaq: WINA) announced today net income for the quarter ended June 30, 2018 of $7,143,000 (or $1.73 per share diluted) compared to net income of $5,530,700 (or $1.23 per share diluted) in the second quarter of 2017. For the six months ended June 30, 2018, net income was $14,103,400 (or $3.42 per share diluted) compared to net income of $11,081,500 (or $2.48 per share diluted) for the same period last year.
Brett D. Heffes, Chief Executive Officer, commented, “The strong start to 2018 has been highlighted by the positive performance of our franchisees. We continue to be pleased with the results of the overall business.”
Winmark Corporation creates, supports and finances business. At June 30, 2018, there were 1,224 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 62 retail franchises have been awarded but are not open. In addition, at June 30, 2018, the Company had a lease portfolio of $43.4 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.
(1) Adjusted for the adoption of ASU 2014-09 under the retrospective method.
(1) Adjusted for the adoption of ASU 2014-09 under the retrospective method.
Brett D. Heffes
Winmark Corporation
763-520-8500
SOURCE Winmark Corporation
Winmark Corporation is a recognized leader in franchise-owned and operated business opportunities.