This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nautilus To Sell Commercial Business Unit

VANCOUVER, Wash. (AP) ¿ Fitness company Nautilus Inc. said Tuesday it plans to sell its commercial business unit and will list the related assets as discontinued operations in its third-quarter results.

The Vancouver, Wash.-based company said it is seeking buyers for its commercial business as part of a restructuring plan to cut costs and focus on its direct-to-consumer and retail businesses. It plans to record a loss on the value of the assets in the third quarter.

Those assets include a manufacturing plant and three warehouses in Virginia; the StairMaster and StepMill brands; the commercial indoor cycling line; the commercial strength and cardio equipment including the Nautilus ONE strength line. It has hired Robert W. Baird & Co. to help find a buyer.

CEO Edward Bramson said the divestiture will help to improve operating margins, utilize capital more efficiently and focus the organization on the higher-growth consumer fitness business.

Bramson said the company would keep the Nautilus, Schwinn and Universal brands as part of its consumer retail business.

Nautilus shares fell by a penny to $1.69 in aftermarket trading Monday.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
NLS $21.13 0.00%
AAPL $121.30 0.00%
FB $94.01 0.00%
GOOG $625.61 0.00%
TSLA $266.15 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs