Winmark Corporation posts USD6.09m net income in Q3 2016.
M2 EQUITYBITES-October 13, 2016-Winmark Corporation posts USD6.09m net income in Q3 2016
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Winmark Corporation (Nasdaq:WINA) on Wednesday reported net income of USD6,094,200, or USD1.41 per diluted share, for the third quarter of 2016, ended 24 September 2016.
This was in comparison with net income of USD5,339,600, or USD1.23 per diluted share, in the third quarter of 2015.
Total revenues for the quarter were USD16,734,300, as compared with USD15,999,500 in Q3 of 2015.
According to the company, earnings growth during the quarter was driven by an increase in customer activity within the company's lease portfolio and reduced selling, general and administrative expenses.
Winmark Corporation creates, supports and finances business. As of 24 September 2016, there were 1,184 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 67 retail franchises have been awarded but are not open.
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|Publication:||M2 EquityBites (EQB)|
|Article Type:||Financial report|
|Date:||Oct 13, 2016|
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