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Nautilus has 102M loss in first quarter

first_imgVancouver-based exercise machine company Nautilus Inc. released its preliminary first quarter results on Monday, showing a $10.2 million operating loss for the quarter due to a 26.5 percent decrease in net sales compared with the first quarter of 2018.In a conference call with investors and analysts on Monday afternoon, interim CEO Carl Johnson emphasized new products and a new marketing strategy that the company plans to roll out this year. The investor call was the company’s first since the March 1 resignation of former CEO Bruce Cazenave.“The same issues that affected us in the fourth quarter of 2018 continued into 2019,” Johnson said.Net sales for the first quarter were $84.4 million, down from $114.8 million in the first quarter of 2018 and $115.4 million in the fourth quarter. The decline was primarily attributed to a decrease in direct sales of the Bowflex Max Trainer.Retail sales were down, as well, which Chief Financial Officer Sid Nayar attributed to lower-than-expected sales in the fourth quarter of 2018 — retailers were still trying to clear their existing inventories in the opening months of 2019, he said, resulting in fewer new orders for equipment.“We ended 2018 with more inventory than planned for,” he said, “and we are strategically reducing inventory throughout 2019.”The company’s biggest priority at the moment is to revamp its messaging and marketing strategy to spur consumer interest in its Bowflex and Max Trainer product lines, as well as its Max Intelligence digital platform, which is intended to pair with Max Trainer products to provide personalized fitness plans.last_img read more