Winmark Corporation (NASDAQ:WINA) reported higher profit for the second quarter as revenue showed growth. Winmark Corporation is a franchisor of four value-oriented retail store concepts that buy, sell, trade and consign merchandise.
Winmark Earnings Cheat Sheet for the Second Quarter
Results: Net income for Winmark Corporation rose to $3.4 million (65 cents per share) vs. $2.3 million (45 cents per share) in the same quarter a year earlier. This marks a rise of 45.4% from the year earlier quarter.
Revenue: Rose 54.1% to $15.2 million from the year earlier quarter.
Quoting Management: John L. Morgan, Chairman and Chief Executive Officer, stated, “Our results during the second quarter were strong. Our leasing business experienced significant growth in profitability due to high levels of activity within our portfolio. Our franchising business continued to exhibit outstanding financial performance. Additionally, we paid down our line of credit and ended the quarter with no bank debt.”
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 20.5%, with the biggest boost coming in the most recent quarter when revenue rose 54.1% from the year earlier quarter.
Competitors to Watch: A.C. Moore Arts & Crafts (NASDAQ:ACMR), Build-A-Bear Workshop, Inc (NYSE:BBW), Dreams, Inc. (AMEX:DRJ), Dick’s Sporting Goods, Inc. (NYSE:DKS), Big five Sporting Goods Corp. (NASDAQ:BGFV), Golfsmith Intl. Hldgs., Inc. (NASDAQ:GOLF), Hibbett Sports, Inc. (NASDAQ:HIBB), Cabela’s Incorporated (NYSE:CAB), Sport Chalet, Inc. (NASDAQ:SPCHA), Dover Saddlery, Inc. (NASDAQ:DOVR),Deckers Outdoors (NASDAQ:DECK), Nike (NYSE:NKE), The Timberland Company (NYSE:TBL) and Sports Direct Intl. Plc (NYSE:SPD).
(Source: Xignite Financials)