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Weight Watchers International Inc WTW
Q4 2010 Earnings Call Transcript

Transcript Call Date 02/17/2011

Operator: Ladies and gentlemen, welcome to Weight Watchers International Fourth Quarter and Full Year 2010 Earnings Teleconference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, you will be invited to participate in the question-and-answer session and instructions will be given at that time. As a reminder, this conference call is being recorded today, February 17, 2011.

At this time, I would like to turn the call over to Ms. Sarika Sahni of Weight Watchers International. Please go ahead.

Sarika Sahni - IR: Thank you, and thank you to everyone for joining us today for Weight Watchers International's fourth quarter and full year 2010 conference call. With us on the call are David Kirchhoff, President and Chief Executive Officer and Ann Sardini, Chief Financial Officer.

At about 7.00 am Eastern Time today, the Company issued a press release reporting its financial results for the fourth quarter and full year 2010. The purpose of this call is to provide investors with some further details regarding the Company's financial results, as well as to provide a general update on the Company's progress. The press release is available on the Company's corporate website located at www.weightwatchersinternational.com.

Reconciliations of non-GAAP measures disclosed on this conference call to the most comparable GAAP financial measure are also available as part of this press release.

Before we begin, let me remind everyone that this call will contain forward-looking statements. Investors should be aware that any forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those discussed here today.

These risk factors are explained in detail in the Company's filings with the Securities and Exchange Commission. Please refer to these filings for a more detailed discussion of forward-looking statements and the risks and uncertainties of such statements. All forward-looking statements are made as of today and except as required by law, the Company undertakes no obligations to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

I would now like to turn the call over to Mr. Kirchhoff. Please go ahead, David.

David Kirchhoff - President, CEO and Director: Good afternoon, and thank you for joining us as we review Weight Watchers International's performance for the fourth quarter and full year of fiscal year 2010. While we began 2010 with a week first quarter we steadily improved results each subsequent quarter and I'm pleased to report that we ended the year on a much more positive note.

Benefiting from the successful launch of an important new program in North America and the other the English speaking markets as well as increasing strength in our weightwatchers.com business, we saw a meaningful acceleration of our business in Q4 2010.

Our North American business showed particular strength with solid growth in attendances for the first time since the recession began in late 2008. It is worth noting that we saw solid growth in both, our North American meetings enrollments and on online signups.

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