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Nautilus, Inc. (NLS) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Nautilus, Inc.

CIK: 1078207 Ticker: NLS

Exhibit 99.1

NAUTILUS, INC. REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2012

Fourth Quarter Revenue Increased 8.4% to $65.0 Million

Fourth Quarter Income from Continuing Operations Grew 120% to $7.3 Million 

Fourth Quarter Gross Margin Improved 490 Basis Points to 48.3%

Full Year 2012 Income from Continuing Operations Increased 325% to $10.6 million

VANCOUVER, WASHINGTON, March 4, 2013—Nautilus, Inc. (NYSE: NLS) today reported its unaudited operating results for the fourth quarter and full year ended December 31, 2012.

Net sales for the fourth quarter of 2012 totaled $65.0 million, an 8.4% increase compared to $60.0 million in the same quarter of 2011. Gross margin for the fourth quarter of 2012 improved 490 basis points to 48.3%, compared to 43.4% for the same quarter in 2011. The increase in gross margin was primarily due to sales of higher margin products in the Direct channel. Operating margin for the fourth quarter of 2012 improved 310 basis points to 11.8% compared to 8.7% in the same period last year.

Income from continuing operations for the fourth quarter of 2012 was $7.3 million, compared to $3.3 million for the same period last year. Income per diluted share from continuing operations for the fourth quarter of 2012 increased to $0.23, compared to $0.11 for the same quarter a year ago. The strong improvement in results from continuing operations primarily reflects improved gross margins and higher operating income from the Company’s Direct business.

For the full year ended December 31, 2012, net sales were $193.9 million, a 7.5% increase compared to $180.4 million in 2011. Income from continuing operations in 2012 was $10.6 million, compared to $2.5 million last year. Income per diluted share from continuing operations in 2012 was $0.34, compared to $0.08 last year.

Bruce M. Cazenave, Chief Executive Officer, stated, “We are pleased to report strong fourth quarter and full year 2012 financial results. Solid improvements in revenue, gross margins, and net income reflect our successful execution on many of the key initiatives we established for 2012. In the fourth quarter, our Direct business continued to perform very well, underscoring the steadily growing demand for our products as well as our ability to leverage certain fixed costs and improve our gross margins. Our Retail business in the fourth quarter was impacted by an overall weaker retail environment for fitness equipment and the timing of new product placements with certain key retailers. The challenging retail market environment reinforces the direction we took during 2012 to focus our product development efforts on an entirely new lineup of cardio products which are scheduled for introduction this coming fall season. Early indications are positive in terms of the potential Retailer receptivity to this new line of products. We also ended the year with a strong balance sheet which reflects the improved cash flow and provides us the financial flexibility to make strategic and selective investments in our business going forward.”

For the fourth quarter of 2012, the Company reported net income (including discontinued operation) of $13.6 million, or $0.44 per diluted share, compared to $3.2 million, or $0.10 per diluted share, for the fourth quarter of 2011. Net income for the fourth quarter of 2012 included $6.2 million from the non-cash recognition of currency translation adjustments related to foreign entities of the discontinued operation. Excluding recognition of currency translation adjustments, net income for the fourth quarter of 2012 was $7.4 million, or $0.24 per diluted share.


The following information was filed by Nautilus, Inc. (NLS) on Monday, March 4, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accrued Liabilities
Accrued Liabilities (details)
Accrued Liabilities (tables)
Borrowings
Borrowings (loan Agreement) (details)
Borrowings (notes) (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Commitments And Contingencies - Operating Lease (details)
Discontinued Operation
Discontinued Operation (details)
Discontinued Operation (tables)
Goodwill
Goodwill (details)
Goodwill (tables)
Income (loss) Per Share
Income (loss) Per Share (details)
Income (loss) Per Share (tables)
Income Taxes
Income Taxes (tables)
Income Taxes - Carryforwards (details)
Income Taxes - Deferred Tax Assets And Liabilities (details)
Income Taxes - Deferred Tax Liability (details)
Income Taxes - Expense (details)
Income Taxes - Income (loss) Before Tax (details)
Income Taxes - Reconciliation (details)
Income Taxes - Unrecognized Tax Benefits (details)
Inventories
Inventories (details)
Inventories (tables)
Other Intangible Assets
Other Intangible Assets (details)
Other Intangible Assets (tables)
Product Warranties
Product Warranties (details)
Product Warranties (tables)
Property, Plant And Equipment
Property, Plant And Equipment (details)
Property, Plant, And Equipment (tables)
Segment Information
Segment Information (details)
Segment Information (tables)
Significant Accounting Policies
Significant Accounting Policies (details)
Significant Accounting Policies (policies)
Significant Accounting Policies (tables)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Performance Stock Units (details)
Stockholders' Equity - Restricted Stock Units (details)
Stockholders' Equity - Stock Options Exercise Price Range (details)
Stockholders' Equity - Stock-based Compensation (details)
Stockholders' Equtiy - Stock Options (details)
Stockholders' Equty (details)
Supplementary Information - Quarterly Results Of Operations (details)
Supplementary Information - Quarterly Results Of Operations (tables)
Supplementary Information - Quarterly Results Of Operations (unaudited)
Trade Receivables
Trade Receivables (details)
Trade Receivables (tables)
Ticker: NLS
CIK: 1078207
Form Type: 10-K Annual Report
Accession Number: 0001078207-13-000003
Submitted to the SEC: Thu Mar 07 2013 5:09:51 PM EST
Accepted by the SEC: Thu Mar 07 2013
Period: Monday, December 31, 2012
Industry: Sporting And Athletic Goods

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