GNC Holdings Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company operating income of $88,481,000, income before income taxes was $76,760,000, net income of $51,768,000 or $0.58 diluted per share on revenue of $607,155,000 against operating income of $86,334,000, income before income taxes was $66,658,000, net income of $47,657,000 or $0.50 diluted per share on revenue of $611,535,000 for the same period a year ago. Adjusted net income was $53,945,000 or $0.61 diluted per share against $59,750,000 or $0.63 diluted per share for the same period a year ago. Revenue increased in the company's retail and franchise segments by 0.1% and 4.1%, respectively. Revenue decreased in the company's manufacturing/wholesale segment by 13.3%. Same store sales decreased 3.0% in domestic company-owned stores in the fourth quarter of 2014. In domestic franchise locations, same store sales decreased 2.6% in the fourth quarter of 2014.

For the year, the company operating income of $439,512,000, income before income taxes was $392,804,000, net income of $255,872,000 or $2.81 diluted per share on revenue of $2,613,154,000 against operating income of $460,498,000, income before income taxes was $407,469,000, net income of $265,021,000 or $2.72 diluted per share on revenue of $2,626,761,000 for the same period a year ago. Adjusted net income was $261,340,000 or $2.87 diluted per share against $277,343,000 or $2.85 diluted per share for the same period a year ago. Net cash provided by operating activities was $303,785,000 against $239,446,000 for the same period a year ago. Capital expenditures were $70,455,000 against $50,247,000 for the same period a year ago, including $20 million to complete the build-out of new distribution center, primarily for new stores, store maintenance, updates in models, corporate IT infrastructure and manufacturing facility expenditures. Revenue increased in the Company's retail segment by 0.6%. Revenue decreased in the Company's franchise and manufacturing/wholesale segments, by 0.9% and 8.3% respectively.

For the full year 2015, the company expects consolidated earnings per diluted share of approximately $3.10 to $3.15 and mid-single-digit increase in consolidated revenue. This is based on achieving a low single-digit increase in domestic company-owned same-store sales, including the impact of GNC.com. Contributions from initiatives associated with brand evolution, product and production and effective marketing are expected to build throughout 2015. Consequently, the company expects the same-store sales increase and a year-over-year consolidated EPS growth to be low in the first quarter of 2015. Depreciation & amortization of approximately $60 million, combined. Tax rate was approximately 36%. Capital expenditures are expected to be approximately $50 million. Over the long term, the company expects to continue to manage to existing leverage ratio as measured by existing debt-to-EBITDAR, which is a factor of 8 capitalized rent.

The company expects to open approximately 125 total net new domestic, including both company-owned and franchise and retail segment locations. Approximately 150 net new international franchise locations and approximately 30 net new GNC Rite Aid stores-in-a-store locations.