Second quarter 2011 operating results for the Retail segment declined $0.5 million from the same quarter a year ago primarily due to lower sales and lower gross margin percent. Gross margin for the Retail business was 21.7% of net sales for the second quarter of 2011, a decrease of 470 basis points compared to the comparable 2010 period, reflecting increased product costs and a change in product mix.
The following table presents comparative operating results by segment for the six months ended June 30, 2011 and 2010:
|Operating Income (Loss) by Segment||Six months ended June 30,||Change|
|(Unaudited and in thousands)||2011||2010||$||%|
The following summary contains information from our unaudited condensed consolidated balance sheets as of June 30, 2011 and December 31, 2010:
|(Unaudited and in thousands)||June 30, 2011||December 31,2010|
|Cash and cash equivalents||$||15,052||$||14,296|
|Trade receivables, net||7,878||19,633|
|Prepaids and other current assets||5,448||7,319|
|Total current assets||40,896||51,595|
|Property, plant and equipment, net||4,711||3,795|
|Other intangible assets, net||17,743||18,774|
|Liabilities and Stockholders' Equity|
|Warranty obligations, current portion||2,950||3,539|
|Deferred income tax liabilities||1,187||1,160|
|Total current liabilities||26,339||36,279|
|Long-term notes payable||5,365||5,141|
|Warranty obligations, non-current||408||396|
|Income taxes payable, non-current||3,472||3,210|
|Deferred income tax liabilities, non-current||1,355||1,008|
|Other long-term liabilities||1,358||1,534|
Conference CallNautilus will host a conference call to discuss the Company's operating results for the second quarter at 4:30 p.m. EDT (1:30 p.m. PDT) on Monday, August 8, 2011. It will be broadcast live over the Internet hosted at http://www.nautilusinc.com/events and will be archived online within one hour after completion of the call. In addition, listeners may call (800) 931-1309 in North America, and international listeners may call (212) 231-2931. Participants from the Company will be Bruce M. Cazenave, Chief Executive Officer, Michael D. Mulholland, Chief Financial Officer and William B. McMahon, Senior Vice President - Consumer Business. A telephonic playback will be available from 6:30 p.m. EDT, August 8, 2011, through 6:30 p.m. EDT, August 22, 2011. Participants can dial (800) 633-8284 in North America, and international participants can dial (402) 977-9140 to hear the playback. The passcode is 21533136 to hear the playback.
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