Winmark(US:WINA)2024-07-17 15:17Financial Performance - Year-to-date net income is $19,250,400, slightly down from $19,311,500 in the previous year, reflecting a decrease of 0.3%[3] - Total revenue for the six months ended June 29, 2024, is $40,230,200, compared to $40,885,800 for the same period last year, indicating a decline of 1.6%[8] - Royalties revenue increased to $35,043,200 for the six months ended June 29, 2024, up from $33,853,500, representing a growth of 3.5%[8] - Earnings per share (basic) for the six months ended June 29, 2024, is $5.49, compared to $5.57 in the previous year, a decline of 1.4%[8] - For the quarter ended June 29, 2024, Winmark Corporation reported a net income of $10,431,400, or $2.85 per diluted share, compared to a net income of $10,368,800, or $2.85 per diluted share in 2023[12] - For the six months ended June 29, 2024, net income was $19,250,400, or $5.26 per diluted share, compared to $19,311,500, or $5.34 per diluted share for the same period last year[12] Cash Flow and Assets - Cash and cash equivalents at the end of the period are $29,397,400, a decrease from $32,376,500 at the end of the previous year[3] - The company reported a net cash provided by operating activities of $21,586,000, down from $23,152,300 in the previous year, a decrease of 6.8%[3] - The total current assets increased to $32,953,600 from $16,746,500, showing a significant growth of 96.5%[7] Expenses and Liabilities - Selling, general, and administrative expenses increased to $13,059,200 for the six months ended June 29, 2024, compared to $12,446,100 in the previous year, reflecting a rise of 4.9%[8] - The company’s total liabilities decreased from $77,662,200 to $75,459,500, a reduction of 2.8%[7] Franchise Operations - The company has 1,336 franchises in operation and over 2,800 available territories, with an additional 77 franchises awarded but not yet open[6] Strategic Decisions - The results during the quarter were impacted by the Company's decision in May 2021 to run-off its leasing portfolio[12]