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Nautilus chief executive officer Bruce Cazenave said the Bowflex Max Trainer has helped direct sales for the company.
(Mark Graves / The Oregonian)
Nautilus Inc. reported a profit of $600,000 in the second quarter that ended June 30, riding a 34 percent increase in sales, the Vancouver exercise equipment company reported Monday.
The company reported net income of 2 cents per diluted share. This includes a loss from discontinued operations of $900,000. In the second quarter of 2013, the company reported net income of $32.9 million, or $1.05 per diluted share, including $200,000 income from discontinued operations.
Net sales for the second quarter totaled $48.5 million, compared to $36.2 million in the same quarter of 2013.
The strong growth was driven by higher sales in both the direct and retail segments. For the first six months of 2014, sales were $120.5 million, an increase of 26 percent over the same period last year.
"Our second quarter results reflect solid performances across the business, with double digit top line growth in our direct and retail segments along with continued gross margin improvements in all segments," Nautilus chief executive Bruce Cazenave said in a statement. "In the direct business, our sales benefitted from incremental sales of the new Bowflex Max Trainer product line. We continue to be encouraged by Max Trainer's early contribution and the long-term potential for the product. We are pleased with the strong operating income performance from our direct business of $3.9 million in our seasonally slowest quarter."
-- Allan Brettman