Winmark Corp (WINA) 10-K Annual Report March 2019

 Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 29, 2018 of $30,125,500 or $7.26 per share diluted compared to net income of $24,580,500 or $5.66 per share diluted in 2017. The fourth quarter 2018 net income was $7,657,800 or $1.83 per share diluted, compared to net income of $7,638,400 or $1.86 per share diluted, for the same period last year. Revenues for the year ended December 29, 2018 were $72,511,100, up from $69,757,300 in 2017.

Winmark Corporation creates, supports and finances business. At December 29, 2018, there were 1,241 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 47 retail franchises have been awarded but are not open. In addition, at December 29, 2018, the Company had a lease portfolio of $39.0 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.

The following information was filed by Winmark Corp (WINA) on Thursday, February 28, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Winmark Corp's 10-K Annual Report:

Other - Other Highlight
The lower effective rate in 2017 compared to 2016 is primarily due to the impact of the change in the federal rate from 35% to 21% on our deferred tax assets and liabilities.

Financial - Expense Highlight
The increase was primarily due to increases in compensation and benefit expenses, occupancy and advertising production.
Financial - Expense Highlight
Leasing expense decreased to $1.9 million in 2018 compared to $3.3 million in 2017.
Financial - Expense Highlight
Leasing expense in 2017 increased $0.9 million compared to 2016 due to an increase in the associated cost of equipment sales to customers discussed above.
Financial - Expense Highlight
The $1.4 million, or 5.8%, increase in selling, general and administrative expenses in 2017 compared to 2016 was primarily due to increases in compensation and benefit expenses, advertising production and outside services, inclusive of amounts related to our launch of Winmark Franchise Partners.
Other - Other
Allowance for Credit Losses The...Read more
Financial - Income
Leasing income in 2017 increased...Read more
Other - Other
Investors are cautioned to consider...Read more
Financial - Dividend
During 2018, we made net...Read more
Financial - Income
Leasing Income Recognition Leasing income...Read more
Other - Other
The lower effective rate in...Read more
Financial - Expense
If factors change and the...Read more
Financial - Income
Fluctuations in period-to-period leasing income...Read more
Financial - Income
The provision for income taxes...Read more
Revenue - Product
The increase in royalties for...Read more
Financial - Debt
Our most significant financing activities...Read more
Revenue - Product
The increase was due to...Read more
Revenue - Product
Direct Franchisee Sales in 2017...Read more
Revenue - Product
We adopted ASU 2014-09, Revenue...Read more
Financial - Expense
Selling, general and administrative expenses...Read more
Revenue - Product
Direct Franchisee Sales increased to...Read more
Other - Other
There were no borrowings outstanding...Read more
Financial - Expense
Cost of merchandise sold increased...Read more
Financial - Dividend
During 2016, we made net...Read more
Financial - Income
The effective interest method of...Read more
Other - Other
As of December 29, 2018,...Read more
Revenue - Product
The decrease is primarily due...Read more
Other - Other
For the Series A notes,...Read more
Other - Other
For the Series B notes,...Read more
Financial - Income
The franchising segment?s 2018 operating...Read more
Financial - Income
The leasing segment?s operating income...Read more
Other - Other
A detailed description of the...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Winmark Corp provided additional information to their SEC Filing as exhibits

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: WINA
CIK: 908315
Form Type: 10-K Annual Report
Accession Number: 0000908315-19-000008
Submitted to the SEC: Fri Mar 08 2019 4:30:03 AM EST
Accepted by the SEC: Fri Mar 08 2019
Period: Saturday, December 29, 2018
Industry: Retail Miscellaneous Retail