Nautilus Q3 net sales climb 33% & BOD declares Qtly cash dividend

04 Nov '05

3 min read

Leading lifestyle retailer Nautilus Inc announced results for the three months ended September 30, 2005, with net sales growth of 33 percent including its new apparel division, and net income growth of 32 percent excluding a gain on the sale of land last year.

Net sales for the three months ended September 30, 2005, were $163.3 million compared to $123.2 million for the corresponding period last year, up 33 percent. Net income for the quarter was $8.3 million, or $0.24 per diluted share, up from $7.5 million, or $0.22 per share, or 11 percent for the corresponding period last year. The year ago quarter included a pretax $1.8 million gain on sale of land, which contributed $0.03 per share.

For the fourth quarter of 2005, the Company estimates that net sales will grow approximately 25 percent compared to the same period last year. Meanwhile, fourth quarter 2005 earnings are expected to grow to $0.44 to $0.48 per diluted share, up from $0.42 per share during the year ago quarter when the Company achieved 50 percent earnings improvement. The Company expects its full year 2005 earnings to be $1.06 to $1.10, on annual sales of around $660 million.

The Company reported that it repurchased approximately 190,000 shares of stock during the third quarter at an average price of $23.75, as part of a $100 million buyback authorized by its Board earlier in the year.

In addition, the Company announced that its Board of Directors declared a regular quarterly dividend of $0.10 per common share, payable December 9, 2005, to stockholders of record as of November 20, 2005.

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