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Contact: Brett D. Heffes
FOR IMMEDIATE RELEASE
WINMARK CORPORATION ANNOUNCES YEAR END RESULTS
Minneapolis, MN (February 24, 2016) - Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 26, 2015 of $21,799,700 or $4.69 per share diluted, compared to net income of $20,066,500 or $3.85 per share diluted, in 2014. The fourth quarter 2015 net income was $5,654,400 or $1.31 per share diluted, compared to net income of $5,610,800 or $1.09 per share diluted, for the same period last year. Revenues for the year ended December 26, 2015 were $69,447,800, up from $61,178,700 in 2014.
During 2015, we passed an important milestone by achieving more than $1 billion in system-wide sales. We have a talented group of franchisees that are thriving in the current retail environment. Our leasing business continues to add dynamic, growing customers to our portfolio, stated John L. Morgan, Chairman and Chief Executive Officer.
Winmark Corporation creates, supports and finances business. At December 26, 2015, there were 1,150 franchises in operation under the brands Platos Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. An additional 88 retail franchises have been awarded but are not open. In addition, at December 26, 2015, the Company had a lease portfolio equal to $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 including statements with respect to our ability to finance the growth of our leasing and franchising businesses for the foreseeable future. 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 Wednesday, February 24, 2016 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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