Last10K.com

Nautilus, Inc. (NLS) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Nautilus, Inc.

CIK: 1078207 Ticker: NLS
logo20150206_image1a21.gif
Exhibit 99.1

NAUTILUS, INC. FINISHES CHALLENGING 2019 WITH ENCOURAGING FOURTH QUARTER RESULTS
    
Fourth Quarter 2019 Retail Segment Sales Increased 4.8% Compared to Same Period Last Year

Company Generated Cash Flow from Operations of $13.0 Million and EBITDA Grew to $5.9 Million in the Fourth Quarter 2019

Fourth Quarter 2019 EPS from Continuing Operations Increased 140% to $0.12, Compared to Same Period Last Year

Company Provides First Quarter 2020 EBITDA Guidance


VANCOUVER, WASHINGTON, February 24, 2020 - Nautilus, Inc. (NYSE: NLS) today reported its unaudited operating results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter 2019 Highlights Compared to Fourth Quarter 2018

Net Sales were $104.2 million, down 9.7% compared to $115.4 million. The 4.8% increase in the Retail Segment was offset by a 28.1% decline in the Direct Segment.

Operating Expenses decreased by 27.4% to $34.9 million compared to $48.0 million, primarily due to reductions in sales and marketing expenses, general and administrative costs, and research and development costs.

Operating Income increased by 21.4% to $3.3 million compared to $2.7 million.

Income from Continuing Operations increased to $3.7 million, or $0.12 per diluted share, compared to income from continuing operations of $1.5 million, or $0.05 per diluted share.

The tax rate for the fourth quarter was minus 25.8% primarily due to a true-up of an income tax benefit in the prior quarter.

EBITDA from continuing operations increased to $5.9 million compared to $5.0 million.

“We are seeing signs that the improvements made during the latter half of 2019 are beginning to benefit our business. New technology enhancements to our product offerings combined with more efficient advertising and reduced overall operating expenses resulted in overall improved results for the fourth quarter,” said Jim Barr, Chief Executive Officer. “We enter 2020 in a stronger financial position, having recently secured a new $70 million Senior Secured Credit Facility. We are very encouraged by customer reception of our new digital platform and new product offerings as well as the improvements in our cost structure, but we are very early in our transformation process. Throughout 2020, we will continue to focus on unlocking the potential of our brands and returning the company to sustainable profitable growth, but we do not expect the changes we are making to our company will result in immediate linear quarterly improvements.”

Fourth Quarter 2019 Segment Results Compared to Fourth Quarter 2018

Direct

Net Sales were $35.9 million, down 28.1% from $49.9 million. Increased sales of Bowflex bikes and Max TotalTM were more than offset by lower Max Trainer® product sales.

Gross Margin was 49.9%, down from 58.7%, driven by unfavorable product mix and unfavorable overhead absorption related to the decrease in sales.


The following information was filed by Nautilus, Inc. (NLS) on Monday, February 24, 2020 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.

View differences made from one year to another to evaluate Nautilus, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Nautilus, Inc..

Continue

Assess how Nautilus, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Nautilus, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Financial
Revenue
Legal
Other
Filter by Subcategory:
All
Earnings
Product
Expense
Income
Debt
Geography
Other
Inside Nautilus, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
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
(Loss) Income Per Share
(Tables)
- Stock-Based Compensation (Details)
401(K) Savings Plan
401(K) Savings Plan (Details)
401(K) Savings Plan (Tables)
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Borrowings
Borrowings (Loan Agreement) (Details)
Business Acquisition
Business Acquisition (Details)
Business Acquisition (Tables)
Business Acquisition - Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingencies
Commitments And Contingencies (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
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill
Goodwill (Details)
Goodwill (Tables)
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)
Investments
Investments (Details)
Investments (Tables)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Lease Cost (Details)
Leases - Maturity (Details)
Leases - Maturity Prior To Adoption (Details)
Leases - Supplemental Cash Flow (Details)
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)
Revenues
Revenues (Details)
Revenues (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Concentration (Details)
Segment Information - Segments (Details)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Stock Repurchase Program
Stock Repurchase Program (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - 2015 Long-Term Incentive Plan (Detail)
Stock-Based Compensation - Employee Stock Purchase Plan (Details)
Stock-Based Compensation - Fair Value Assumptions (Details)
Stock-Based Compensation - Other (Details)
Stock-Based Compensation - Performance Stock Units (Details)
Stock-Based Compensation - Rsu And Rsa Activity (Details)
Stock-Based Compensation - Stock Options (Details)
Subsequent Events
Subsequent Events (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: 0001078207-20-000015
Submitted to the SEC: Wed Feb 26 2020 4:33:40 PM EST
Accepted by the SEC: Wed Feb 26 2020
Period: Tuesday, December 31, 2019
Industry: Sporting And Athletic Goods

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/nls/0001078207-20-000015.htm