GNC Holdings, Inc. Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Reports Long Lived Asset Impairment for the Second Quarter Ended June 30, 2017; Provides Financial Guidance for the Year 2017
For the six months, the company reported revenue of $1,285,832,000 as compared to $1,342,123,000 for the same period last year. Operating income was $93,373,000 as compared to $210,289,000 for the same period last year. Income before income taxes was $61,412,000 as compared to $180,571,000 for the same period last year. Net income was $39,511,000 as compared to $114,843,000 for the same period last year. Diluted earnings per share was $0.58 as compared to $1.62 for the same period last year. Net cash provided by operating activities was $72,850,000 as compared to $130,889,000 for the same period last year. Capital expenditures was $20,397,000 as compared to $20,809,000 for the same period last year. Excluding long-lived asset impairment charges and a legal charge in the current year period and gains on refranchising in the current and prior year periods, adjusted EPS was $0.77 in the six months ended June 30, 2017 compared with $1.48 in the six months ended June 30, 2016. Adjusted net income was $52,929,000 as compared to $104,598,000 for the same period last year.
For the quarter, the company reported long lived asset impairment of $19,356,000.
For the year 2017, the company expects CapEx to be in line with last quarter's estimates of $35 million to $40 million. The company continue to expect free cash flow to be in excess of $250 million for this year.