Shares of Nautilus(NLS Quote) were among the NYSE's losers Wednesday, slumping 25% after the fitness equipment company previewed fourth-quarter results that fell below estimates.
The company expects to report earnings of 7 cents to 12 cents a share and sales of $179 million to $183 million. In November, the company projected it would earn 44 cents to 48 cents a share on sales of $210 million. Analysts polled by Thomson First Call expected earnings of 46 cents a share and sales of $210.7 million. The company said it is "experiencing growing pains in ramping innovation through the manufacturing side" of its business. As a result, the company saw delays in the introduction of new products that were supposed to boost earnings and sales during the quarter.
Looking ahead, Nautilus continues to expect earnings growth of 20% to 30% and sales growth of 15% to 20% for its 2006 to 2008 strategic business plan. Shares were trading down $4.64 to $13.89. ...
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