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Nautilus, Inc. (NLS) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Nautilus, Inc.

CIK: 1078207 Ticker: NLS
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Exhibit 99.1

NAUTILUS, INC. REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2016
    
Fourth Quarter Revenue Increased 15% Over Prior Year to $125.8 million

Fourth Quarter Operating Income Increased 56% to $19.3 million

EPS from continuing operations increased 19% to $0.38 cents


VANCOUVER, WASHINGTON, February 21, 2017 - Nautilus, Inc. (NYSE: NLS) today reported its unaudited operating results for the fourth quarter and full year ended December 31, 2016.

Net sales for the fourth quarter of 2016 totaled $125.8 million, a 15.2% increase compared to $109.1 million in the same quarter of 2015. The strong growth was driven by higher sales in the Retail segment resulting from the acquisition of Octane Fitness, partially offset by single-digit declines in organic Retail segment and Direct segment sales. For the full year 2016, net sales were $406.0 million, an increase of 20.9% over last year. Income from continuing operations for the fourth quarter of 2016 was $12.0 million, or $0.38 per diluted share. This compares to income from continuing operations for the same period last year of $9.9 million, or $0.32 per diluted share. For the full year 2016, income from continuing operations totaled $35.1 million, or $1.12 per diluted share, compared to $26.8 million, or $0.85 per diluted share, for the same period last year.

Q4 2016 Highlights

Revenues:
Retail segment sales increased 43.6% to $60.0 million, reflecting the inclusion of Octane Fitness, partially offset by a 6.6% decline in organic growth, as improved performance at certain key retailers did not offset the loss of sales related to accounts that ceased doing business during 2016 and weakness in Canada.
Direct segment sales decreased 2.7% to $65.2 million as improved performance metrics in the post-election period did not completely offset the lower media response rates experienced earlier in the quarter.
Gross Margins:
Direct and Retail segments gross margins improved by 630 and 570 basis points, respectively; total company gross margins improved 290 basis points.
Operating Expense:
As a percent of revenue, operating expenses improved 120 basis points to 35.6% versus 36.8% in the fourth quarter last year, driven by lower selling and marketing costs, partially offset by higher planned research and development expenses and incremental expenses from the addition of Octane.
Operating income increased by 56.4% to $19.3 million and operating margin improved by 410 basis points, from 11.3% to 15.4%.
EBITDA from continuing operations increased by 61.7% to $21.4 million versus $13.2 million in the same quarter prior year.
The effective income tax rate for continuing operations in the fourth quarter of 2016 was 36.4% versus 20.3% in the prior year quarter; the prior year included a non-recurring tax benefit of $2.0 million associated with the release of a valuation allowance related to foreign tax credits.
At December 31, 2016, the Company had cash and marketable securities of $79.6 million and debt of $64.0 million, compared to $60.8 million and $80.0 million, respectively, at December 31, 2015.

Full Year 2016 Highlights

Revenues:


The following information was filed by Nautilus, Inc. (NLS) on Tuesday, February 21, 2017 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
Consolidated Statements Of Stockholders' Equity - Parenthetical
401(k) Savings Plan (details)
401(k) Savings Plan (tables)
401(k) Savings Plan 401(k) Savings Plan
Accrued Liabilities
Accrued Liabilities (details)
Accrued Liabilities (tables)
Accumulated Other Comprehensive Income (loss) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Accumulated Other Comprehensive Income (loss) Accumulated Other Comprehensive Income (loss)
Borrowings
Borrowings (loan Agreement) (details)
Borrowings (tables)
Business Acquisition
Business Acquisition (details)
Business Acquisition (tables)
Business Acquisition - Assets Acquired And Liabilities Assumed (details)
Business Acquisition - Intangible Assets (details)
Business Acquisition - Pro Forma (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Commitments And Contingencies - Operating Lease (details)
Derivatives
Derivatives (details)
Derivatives (tables)
Derivatives - Effect On Condensed Consolidated Statements Of Operations (details)
Derivatives - Fair Value Of Derivative Instruments (details)
Discontinued Operation
Discontinued Operation (details)
Discontinued Operation (tables)
Fair Value Measurements (details)
Fair Value Measurements (notes)
Fair Value Measurements (tables)
Goodwill
Goodwill (details)
Goodwill (tables)
Income Per Share
Income Per Share (details)
Income 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)
Stock Repurchase Program (details)
Stock Repurchase Program Stock Repurchase Program
Stock Repurchase Program Stock Repurchase Program (tables)
Stock-based Compensation
Stock-based Compensation (detail)
Stock-based Compensation (tables)
Stock-based Compensation - Employee Stock Purchase Plan (details)
Stock-based Compensation - Performance Stock Units (details)
Stock-based Compensation - Stock Options (details)
Stock-based Compensation - Stock-based Compensation (details)
Stock-based Compensation Fair Value Assumptions (details)
Stock-based Compensation Stock Compensation, Other (details)
Stock-based Compensation- Rsu And Rsa Activity (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: 0001078207-17-000009
Submitted to the SEC: Mon Feb 27 2017 5:24:04 PM EST
Accepted by the SEC: Mon Feb 27 2017
Period: Saturday, December 31, 2016
Industry: Sporting And Athletic Goods

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