November 9, 2010 / 10:09 PM / 7 years ago

UPDATE 1-Weight Watchers Q3 beats Street, tweaks 2010 EPS view

* Q3 adj EPS $0.69 vs est $0.64

* Q3 revenue $330.6 mln vs est $327.4 mln

* Sees 2010 EPS $2.42-$2.47

* Shares down about 4 pct in trading after the bell

Nov 9 (Reuters) - Weight Watchers International Inc’s (WTW.N) quarterly profit beat estimates for the eighth straight quarter on strong demand at its and North American meeting business, but tweaked its 2010 earnings view.

Shares of New York-based Weight Watchers, which have gained nearly 26 percent since it reported second quarter results on Aug. 5, fell nearly 4 percent to $33.82 in extended trade.

They had closed at $35.17 on Tuesday on the New York Stock Exchange.

The company, which helps customers lose weight, now sees 2010 earnings of $2.42-$2.47 a share including a charge of 5 cents on a pending settlement of a lawsuit, compared with its prior view of $2.35-$2.50 a share.

Analysts on average expect earnings of $2.47 for the year, according to Thomson Reuters I/B/E/S.

The company, which organises weekly meetings consisting of nutrition advice, exercise tips and success stories, said meeting revenue at its North American company-owned meeting operations (NACO) was at $156.9 million, up 2.5 percent.

Weight Watchers, whose rivals include Nestle AG’s NESN.VX Jenny Craig Inc, Medifast Inc (MED.N) and NutriSystem Inc (NTRI.O), earned 59 cents a share on revenue of $330.6 million for the third quarter ended Oct. 2. [ID:nASA011A2]

Excluding items, it earned 69 cents a share, according to Thomson Reuters I/B/E/S. delivered double-digit top-line growth, with internet revenue surging 22.5 percent on a constant currency basis to $60.5 million and online paid weeks up 26.0 percent. (Reporting by Renju Jose in Bangalore; Editing by Prem Udayabhanu)

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