Nautilus Posts Narrower 4th-quarter Loss

VANCOUVER, Wash. (AP) — Nautilus Inc., which owns fitness equipment brands StairMaster and Bowflex, said Tuesday it posted a smaller fourth-quarter loss as operating expenses declined from a year earlier.

Nautilus posted a loss of $41.2 million, or $1.35 per share, compared with a year-earlier loss of $45.7 million, or $1.45 per share.

Results in the most recent quarter included a goodwill impairment charge of $29.8 million, while total operating expenses declined to $78.4 million from $83 million.

Quarterly sales declined 37 percent to $92.3 million from $146.7 million.

Analysts polled by Thomson Reuters, who usually exclude one-time items from their predictions, expected a loss of 19 cents a share and revenue of $105.4 million.

"The challenging economic environment reduced our sales more than previously expected," Chief Executive Edward Bramson said.

For the year, Nautilus posted a deeper loss of $90.6 million, or a loss of $2.91, compared with a loss of $55.6 million, or a loss of $1.76 per share.

Yearly sales declined 18 percent to $411.2 million from $501.5 million, caused by weakness in all three business segments.