Nautilus (NLS) Tops Q3 EPS by 1c
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Nautilus (NYSE: NLS) reported Q3 EPS of $0.16, ex-items, $0.01 better than the analyst estimate of $0.15. Revenue for the quarter came in at $80.8 million versus the consensus estimate of $92.65 million.
Bruce M. Cazenave, Chief Executive Officer, stated, “Our focus on generating profitable growth through product innovation, channel diversification, and disciplined management of expenses, enabled us to achieve double-digit growth in revenue along with a 29% increase in operating income to $8.2 million. While we faced challenging consumer response conditions that negatively impacted our Direct segment performance, we are pleased by the continued expansion of our Retail business segment. The Retail segment growth was driven by strong double-digit increases in the organic business as well as the addition of Octane Fitness, which also saw robust growth in the quarter. The challenging media conditions and lower response metrics trends that we had highlighted back in August for the Direct segment continued unabated for the quarter, which led the Company to defer media spending and lead generation activity significantly in order to maintain a profitable return on media investment. Our team proved once again that we can adapt quickly to the changing conditions and adjust media strategies and other tactics accordingly in order to maintain healthy margins and profitability.”
Mr. Cazenave continued, “At our recent new product showcase event, we introduced new strength and cardio products that will be in both our Retail and Direct channels. The majority of the products will be launched in the coming months and we are encouraged by initial retailer and consumer response. These products re-affirm our commitment to further broaden our portfolio and to drive the business for long-term profitable growth via industry leading design and innovation.”
For earnings history and earnings-related data on Nautilus (NLS) click here.
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