Weight Watchers shares plunged on Friday after the company reported dismal quarterly results and lowered its full-year outlook.
Weight Watchers International's shares plummeted 18% after the company reported a 16% decline in quarterly profit, compared to the year-ago quarter. The company said this was partly because of a $21.7 million charge for debt refinancing.
The company also reported a drop in revenue of nearly 4%, compared to the year-ago quarter.
Weight Watchers lowered its full-year guidance to a range of between $3.55 and $3.70, compared to the prior range of $3.60 to $3.99.