Winmark Corporation, parent company to Play It Again Sports recorded a 20.6% increase in net revenues for the second quarter to $7.6 million from $6.3 million for the same period last year. Net income for the quarter decreased 15.9% to $547,200, or 10 cents per share diluted, compared to net income of $650,400, or 11 cents per share diluted, in 2006.
For the six months ended June 30, 2007, net income was $1,209,400, or 21 cents per share diluted, compared to net income of $1,763,700, or 29 cents per share diluted, for the same period last year.
John L. Morgan, chairman and CEO, stated, “The highlight of the second quarter was the growth of our leasing portfolio. We continue to build leased assets and experienced a significant increase in our backlog. Our franchise brands including Wirth Business Credit are growing and are meeting our expectations.”
John L. Morgan, chairman and CEO, stated, “The highlight of the second quarter was the growth of our leasing portfolio. We continue to build leased assets and experienced a significant increase in our backlog. Our franchise brands including Wirth Business Credit are growing and are meeting our expectations.”
