Nautilus, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Reiterates Operating Income Guidance and Provides Revenues, Tax Rate and Capex Guidance for the Full Year of 2018
July 30, 2018 at 04:05 pm EDT
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Nautilus, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net sales of $75,498,000 against $77,029,000 a year ago. Operating income was $1,202,000 against $3,849,000 a year ago. Income from continuing operations before income taxes was $1,259,000 against $3,722,000 a year ago. Income from continuing operations was $1,007,000 against $2,566,000 a year ago. Net income was $928,000 against $2,489,000 a year ago. Diluted income per share from continuing operations was $0.03 against $0.08 a year ago. Diluted net income per share was $0.03 against $0.08 a year ago. Earnings before interest, taxes, depreciation and amortization from continuing operations were $3,262,000 against $6,233,000 a year ago.
For the six months, the company reported net sales of $190,311,000 against $190,281,000 a year ago. Operating income was $11,899,000 against $16,532,000 a year ago, the decrease in Net Sales were driven by lower Direct segment sales, down 11.0%, reflecting expected declines in Bowflex TreadClimber sales, and weaker than projected Bowflex Max Trainer sales. Income from continuing operations before income taxes was $11,922,000 against $16,045,000 a year ago. Income from continuing operations was $9,147,000 against $10,751,000 a year ago. Net income was $8,987,000 against $9,582,000 a year ago. Diluted income per share from continuing operations was $0.30 against $0.35 a year ago. Diluted net income per share was $0.29 against $0.31 a year ago. Earnings before interest, taxes, depreciation and amortization from continuing operations were $16,385,000 against $21,113,000 a year ago. Capital expenditures were $4.2 million. As of June 30, 2018, with $40 million of debt.
The company expecting full year revenues in 2018 to be in the range of $431 million to $440 million and are reiterating operating income to be in the range of $42 million to $45 million, effective tax rate to be in the range of 24% to 25%, CapEx to be in the range of $8.5 million to $10.5 million.
BowFlex Inc. is a provider of digitally connected home fitness solutions. Its principal business activities include designing, developing, sourcing and marketing cardio and strength fitness products, related accessories, and a digital platform for consumer use. Its brands include Bowflex, Schwinn and JRNY. Its segments include Direct and Retail. Direct business offers products directly to consumers primarily through Websites. Retail business offers its products through a network of independent retail companies to reach consumers in the home-use markets in the U.S. and internationally. Cardio products include connected-fitness bikes, the BowFlex C6, VeloCore, Schwinn IC4, Max Trainer, treadmills, other exercise bikes, ellipticals and subscription services. Strength products include Bowflex Home Gyms, BowFlex SelectTech dumbbells, kettlebell and barbell weights, and accessories. The JRNY adaptive fitness membership offers personalized cardio and whole-body workouts that evolve as you do.
Nautilus, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Reiterates Operating Income Guidance and Provides Revenues, Tax Rate and Capex Guidance for the Full Year of 2018
BOWFLEX INC. 
