Winmark Corporation announced net income for the quarter ended September 29, 2007 of $1,186,200, or $.21 per share diluted, compared to net income of $838,200, or $.14 per share diluted, in 2006.
For the nine months ended September 29, 2007, net income was $2,395,600, or $.43 per share diluted, compared to net income of $2,601,900, or $.43 per share diluted, for the same period last year.
John L. Morgan, Chairman and Chief Executive Officer, stated, “Net income for the third quarter increased over last year and the second quarter of this year due to the growth in our leased assets in both Wirth Business Credit and Winmark Capital. Our franchise brands continue to grow both in number of stores and royalties.”
Winmark Corporation creates, supports and finances business. At September 29, 2007, there were 855 franchises in operation under the brands Play It Again Sports, Once Upon A Child, Plato's Closet and Music Go Round and there were 35 territories in operation under the Wirth Business Credit brand. An additional 46 retail franchises and 2 Wirth territories have been awarded but are not open.
In addition, at September 29, 2007, the Company had loans and leases equal to $35.2 million.
marketing@alchempro.com
