Vancouver-based fitness equipment manufacturer/retailer Nautilus Monday reported decreased operating income of $1.2 million on sales of $75.5 million for its second quarter ending June 30. That compares with $3.8 million in operating income and $77.0 million in sales in the same quarter last year.
In a statement, CEO Bruce M. Cazenave said “Our overall performance was in line with our expectations for the second quarter, historically the seasonally slowest quarter of the year.
“We continued to see solid momentum in our retail segment, which achieved 5.7 percent year-over-year growth, driven by double-digit expansion in our mass retail channel. Our direct segment remained challenged in the second quarter by the continued phase-down of the mature TreadClimber and softer than expected results from Max Trainer. We expect strong growth in the direct segment in the back half of 2018 based on new product launches and the introduction of our new digital platform.”
Nautilus shares closed at $13.95, down 5 cents, in New York Stock Exchange trading Monday. Results were announced after the market closed.
