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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV