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Winmark Corporation Announces First Quarter Results

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Winmark Corporation (Nasdaq: WINA) announced today net income for the quarter ended March 27, 2021 of $9,311,100 or $2.40 per share diluted compared to net income of $7,317,000 or $1.87 per share diluted in 2020.

“The resiliency of our business model combined with the improving execution of our franchisees led to exceptional first quarter results,” commented Brett D. Heffes, Chairman and Chief Executive Officer.

Winmark Corporation creates, supports and finances business. At March 27, 2021, there were 1,264 franchises in operation under the brands Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. An additional 32 retail franchises have been awarded but are not open.

This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.

WINMARK CORPORATION

CONDENSED BALANCE SHEETS

(unaudited)

 

 

 

 

 

 

 

 

 

 

March 27, 2021

 

December 26, 2020

ASSETS

Current Assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

7,959,900

 

 

$

6,659,000

 

Restricted cash

 

 

25,000

 

 

 

25,000

 

Receivables, net

 

 

2,096,900

 

 

 

1,581,900

 

Net investment in leases - current

 

 

8,156,900

 

 

 

8,687,500

 

Income tax receivable

 

 

—

 

 

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Winmark

NASDAQ:WINA

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