Nautilus Shares Surge on Upbeat Forecast [TheStreet.com]
Nautilus, Inc. (NLS)
Last nautilus, inc. earnings: 2/24 04:05 pm
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Source: TheStreet.com
Shares of Nautilus, Inc.(NLSGet ReportThe company said preliminary net sales for the first quarter were $94 million, up 11% from the year-earlier period, the first time quarterly sales have risen since the third quarter of 2018. The increase was driven by sales of its Bowflex and Schwinn brands.“COVID-19 has created a heightened need for home-fitness products and our company was able to meet customer demand well, through both the direct and retail segments,” said Jim Barr, CEO, in a statement.He cautioned, however, that “short-term, it may remain a significant challenge to fully match the unplanned surge in demand with supply.”The company said a “significant volume” of its products are made in China. “Most workers in the factories the company utilizes have returned to work. Further, ground transportation to the ports, and shipping capabilities from China are improving daily,” according to the statement.Shares of Nautilus rose 99 cents, or 41%, to $3.39 in after-hours action.In the bro
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