Winmark Corporation, owner of Play it Again Sports, posted net income of $2.69 million, or 51 cents per diluted share, for the fiscal third quarter ended Sept. 25, compared to net income of $1.78 million, or 33 cents per share diluted, in fiscal Q3 2009.


Quarterly revenue increased 12.0% to $11.0 million from $9.8 million in the previous year.  Winmark posted gains in royalties, leasing income, merchandise sales and franchise fees.


For the nine months ended Sept. 25, net income was $7.21 million, or $1.39 per diluted share, compared to net income of $4.39 million, or 82 cents per diluted share, for the comp period last year.


Company chairman and CEO John L. Morgan stated, “The positive trends in our business continued during the third quarter. Our strong financial performance included the further strengthening of our balance sheet.”
In the previous quarter, Winmark reported net revenues increased 11.8% on tightened expenses.