Weight Watchers is crashing

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Weight Watchers is crashing.

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Shares fell as much as 34% in trading Friday following the company's fourth quarter earnings announcement on Thursday.

The company reported Q4 2014 adjusted earnings per share of 7 cents on revenues of $327.8 million, down 10.4% compared to the same period in the previous year. Expectations were for revenues of $389 million, while EPS was in line with forecasts.

Active subscribers to the weight loss and dieting company fell 15% in the fourth quarter.

"While we still believe in our underlying strategies, I am disappointed that we are not yet where we hoped to be and our turnaround will take longer than we had anticipated," wrote Jim Chambers in the earnings statement.

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For all of 2014, adjusted profit fell by 47% to $115 million while annual revenue fell 14% to $1.48 billion.

Here's a chart showing the plunge:

Screen Shot 2015 02 27 at 11.02.27 AM

Yahoo Finance

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