February 14, 2008
Fitness company Nautilus Inc announced unaudited results for the three months and fiscal year ended December 31, 2007.
Net sales from continuing operations for the three months ended December 31, 2007, were $147.3 million compared to $185.1 million for the corresponding period last year, a decrease of 20 percent.
Loss from continuing operations for the quarter was $31.4 million or $0.99 per diluted share, compared to income from continuing operations of $12.6 million or $0.40 per diluted share for the fourth quarter of 2006.
The results from continuing operations for the current and prior periods exclude the Company's apparel segment, which is considered a discontinued operation as it is currently offered for sale.
Sales from discontinued operations of the company's former apparel segment were $12.4 million for the fourth quarter 2007 and $67.1 million for the full year 2007.
Discontinued operations resulted in a pre-tax loss of $17.1 million in the quarter, primarily reflecting an impairment of $15.9 million in book value of the apparel segment.
Net loss for the quarter was $47.7 million, or $1.51 per diluted share, compared to net income of $12.9 million, or $0.41 per diluted share for the fourth quarter of 2006.
The fourth quarter 2007 loss from continuing operations before income taxes of $48.7 million included certain pre-tax charges totaling $45.1 million.
Included in this amount:
- $19.4 million related to the suspended acquisition of the Land America manufacturing facility in China;
Source @ Fibre2fashion