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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Nautilus, Inc. Announces Continued Positive Momentum In Operating Results For The Second Quarter Of 2011

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 $   %
Direct business $ 1,178 $ (6,514 ) $ 7,692 n.m.
Retail business 3,101 3,593 (492 ) (13.7 )%
Unallocated corporate (5,179 ) (5,777 ) 598   10.4 %
$ (900 ) $ (8,698 ) $ 7,798   89.7 %

The following summary contains information from our unaudited condensed consolidated balance sheets as of June 30, 2011 and December 31, 2010:

  As of
(Unaudited and in thousands) June 30, 2011  

December 31,2010

Assets
Current assets:
Cash and cash equivalents $ 15,052 $ 14,296
Trade receivables, net 7,878 19,633
Inventories 12,518 10,347
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
Goodwill 3,000 2,931
Other intangible assets, net 17,743 18,774
Other assets 920   1,272
$ 67,270   $ 78,367
Liabilities and Stockholders' Equity
Current liabilities:
Trade payables $ 16,041 $ 24,535
Accrued liabilities 6,161 7,045
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
Stockholders' equity 28,973   30,799
$ 67,270   $ 78,367

Conference Call

Nautilus 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.

Stock quotes in this article: NLS 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs