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Posted: Tue Nov 10, 2009 12:00 am Post subject: Nautilus Results 3rd Quarter |
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*** Nautilus Results 3rd Quarter ***
Vancouver, Washington -- 11/10/2009
Nautilus, Inc. Announces Results for Third Quarter 2009.
Fitness company Nautilus, Inc. (NYSE:NLS) today announced
unaudited results for the third quarter ended September 30, 2009.
Continuing results include the Company's direct and retail
businesses but exclude the Company's commercial business,
for which the Company is actively seeking a buyer as announced
on September 29, 2009. The commercial business is considered a
discontinued operation.
For the quarter ended September 30, 2009 the Company reported
net sales from continuing operations of $41.4 million, compared to
net sales from continuing operations of $62.7 million for the third
quarter 2008.
The Company offset expected lower sales in the retail
and direct businesses with greater operating efficiencies.
This resulted in profitable operating income for both the retail
and direct businesses in the third quarter ending September 30,
2009. Operating income for the retail business was $2.2 million
for the third quarter 2009, compared to $4.4 million in the third
quarter 2008. The direct business generated $1.7 million in
operating income for the third quarter 2009, compared to an
operating loss of $0.9 million in the third quarter 2008.
The Company reported a loss from continuing operations for the
third quarter 2009 of $1.5 million, or $0.05 per diluted share.
Included in loss from continuing operations is a non-cash pre-tax
asset impairment charge of $2.1 million, related to the Company's
intellectual property, and a pre-tax benefit from warranty expense
reduction of $1.4 million, reflecting recent improvements in warranty
claims experience. In the third quarter of 2008, loss from continuing
operations was $22.2 million, or $0.72 per diluted share.
The Company reported a loss from discontinued operations for the
third quarter of 2009 of $22.9 million, or $0.75 per diluted share.
The commercial business qualified for "held-for-sale" accounting
treatment as a result of the planned divestiture of that business and,
as such, loss from discontinued operations includes a non-cash after
-tax impairment loss of $17.9 million. Loss from discontinued operations
in the third quarter 2008 was $11.9 million, or $0.39 per diluted share.
Net loss from continuing and discontinued operations in the third quarter
2009 was $24.4 million, or $0.80 per diluted share, compared with a net
loss of $34.1 million, or $1.11 per diluted share, in the third quarter 2008.
For Full Report See:
http://investors.nautilusinc.com/releasedetail.cfm?ReleaseID=422981
About Nautilus, Inc.
Headquartered in Vancouver, Wash., Nautilus, Inc. (NYSE:NLS)
is a global fitness products company providing innovative, quality
solutions to help people achieve a healthy lifestyle.
With a brand portfolio including Nautilus(R), Bowflex(R),
Schwinn(R)Fitness, StairMaster(R) and Universal(R),
Nautilus markets innovative fitness products through its direct
and retail business channels. Formed in 1986, the Company had
2008 sales of $411 million ($283 million from continuing operations).
It has approximately 750 employees and operations in Washington,
Oregon, Virginia, Canada, Switzerland, Germany, United Kingdom,
China and other locations around the world.
Website: www.nautilusinc.com _________________ BMX News Reporter, An Array Of People
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