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said fourth-quarter earnings will rise from a year ago but not at the clip once hoped, and next year's earnings will fall slightly below 2002's.

The health-equipment maker said it expects to earn 66 cents to 69 cents a share in the fourth quarter on revenue of $150 million to $155 million, up from earnings of 57 cents a share on revenue of $125 million a year ago.

The would bring full-year 2002 earnings to $2.76 to $2.79 a share on revenue of $579 million to $584 million. For 2003, the company is projecting earnings of $2.50 to $2.60 a share on revenue of $580 million to $600 million.

All of the results would trail existing analyst forecasts, as compiled by First Call.

"While 2003 earnings guidance is slightly lower than 2002, our business remains healthy, we have a strong balance sheet, and have consistently produced solid operating results and cash flow," the company said in a statement. The company also said it plans to sell a new product starting in the second quarter.

Nautilus's shares closed at $15.73 in regular trading and were last quoted at $14.25 on the Island post-close session.