Nautilus shares rise on fourth-quarter outlook «
Nautilus Inc. /quotes/zigman/305721/delayed/quotes/nls/nls NLS +9.43% issued rosy preliminary results for the fourth quarter, as the fitness products company said sales grew across all business segments.
The company’s outlook targets for the fourth quarter and all of 2013 exceeded Wall Street’s expectations, news that sent shares up 8.7% to $8.99 in after-hours trading.
Earlier this year, Nautilus said improvements to its product line would help bolster retail revenue and operating results in the second half of 2013. The company’s direct business, meanwhile, has grown due to increased sales of new products and steady growth of existing cardio products.
Chief Executive Bruce Cazenave said the company’s latest results affirmed “our plans and initiatives are working.”
Nautilus projected a fourth-quarter adjusted profit between 29 cents to 31 cents on about $77.1 million in net sales.
Analysts surveyed by Thomson Reuters expected a per-share profit of 26 cents on $71 million in sales.
For the full year, the company sees earnings of 46 cents to 48 cents on about $218.8 million in sales. Those projections also exceeded Wall Street’s expectations.