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Feb 24

Octane Fitness sales drive Nautilus earnings – The Columbian

Fitness Comments Off on Octane Fitness sales drive Nautilus earnings – The Columbian

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VANCOUVER Nautilus Inc., the Vancouver-based maker of fitness equipment, announced this week it had muscled its way to a 20 percent jump in net sales, making $406 million in 2016.

The net sales were buoyed by Octane Fitness products, a company Nautilus acquired in early 2016 for $115 million.

Nautilus CEO Bruce Cazenave said the company set out to innovate its products and distribution models, and expand internationally in 2016.

The successful integration of Octane was an important contributor to advancing on all these strategic fronts, helping lay the groundwork for another year of positive growth in 2017 and beyond, he said.

Net sales rose in the companys fiscal fourth quarter again driven by Octane, the company said. Net sales climbed to $125.8 million, a 15.2 percent increase, though its non-Octane sales declined by single digits.

Shares in the company, traded as NLS on the New York Stock Exchange, fell from $17.75 per share to $14.80 a 15 percent drop after the earnings report came out Tuesday. Nautilus posted net incomes of $11.6 million in its fourth quarter and $34.1 million for the year.

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Octane Fitness sales drive Nautilus earnings - The Columbian

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