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Contact:Brett D. Heffes
FOR IMMEDIATE RELEASE
WINMARK CORPORATION ANNOUNCES YEAR END RESULTS
Minneapolis, MN (March 1, 2017) Winmark Corporation (Nasdaq: WINA) announced today net income for the year ended December 31, 2016 of $22,217,600 or $5.13 per share diluted, compared to net income of $21,799,700 or $4.69 per share diluted, in 2015. The fourth quarter 2016 net income was $6,166,200 or $1.41 per share diluted, compared to net income of $5,654,400 or $1.31 per share diluted, for the same period last year. Revenues for the year ended December 31, 2016 were $66,580,300, down from $69,447,800 in 2015.
“During the year, we experienced growth in our leasing portfolio and made steady progress in both the performance and number of our franchised locations.” stated Brett D. Heffes, Chief Executive Officer.
Winmark Corporation creates, supports and finances business. At December 31, 2016, there were 1,186 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 December 31, 2016, the Company had a lease portfolio equal to $41.4 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 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 Thursday, March 2, 2017 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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