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Nautilus, Inc. Reports Improved Results For The Second Quarter 2012

Stocks in this article: NLS

August 6, 2012 - Nautilus, Inc. (NYSE: NLS) reported today its unaudited operating results for the second quarter ended June 30, 2012. Continuing the momentum established in 2011, net sales for the second quarter 2012 totaled $39.6 million, an increase of 14.0% compared to net sales of $34.7 million for the same quarter in 2011.

Gross margin for the second quarter of 2012 improved 150 basis points to 43.4%, compared to 41.9% for the same quarter in 2011. The increase in gross margin was primarily due to sales of higher margin Direct products. Operating margin for the second quarter of 2012 improved 670 basis points over the same period last year.

Loss from continuing operations for the second quarter ended June 30, 2012 was $0.5 million, compared to loss from continuing operations of $2.2 million for the same period last year. Loss per diluted share from continuing operations for the second quarter of 2012 was $(0.02), compared to $(0.07) for the same quarter a year ago. The significant improvement in results from continuing operations reflects stronger sales, improved gross margins, and lower operating expenses as a percentage of sales.

For the six months ended June 30, 2012, income from continuing operations was $2.2 million, compared to loss from continuing operations of $1.1 million for the same period last year. Income per diluted share from continuing operations for the first six months of 2012 was $0.07, compared to loss per diluted share of $(0.03) for the same period a year ago.

Bruce M. Cazenave, Chief Executive Officer, stated, “Our second quarter results illustrate continued steady progress in many of the focus areas of our business. Our Direct business continued its strong momentum by posting revenue growth, an increase in gross margin and further improvements in operating expense leverage. While our Retail business generated significant revenue increases in the quarter, we believe this was partially due to a shift in some of our retail partners’ buying patterns in to the second quarter in anticipation of previously announced price increases affecting the second half of 2012.”

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