Vancouver-based Nautilus Inc. showed some muscle this spring as it posted a 31 percent year-over-year increase in sales and a second-quarter profit of $3.5 million, beating analysts’ expectations.
“The first half of 2016 has proven to be a great start to another positive year of growth,” Nautilus CEO Bruce Cazenave said during an investor call Monday. “By the end of 2016, we will have broadened our product portfolio, significantly expanded our channels of distribution and expanded our market share both domestically and internationally.”
For the quarter that ran April through June this year, the exercise equipment maker had net sales of $78.5 million, compared to $59.7 million in last year’s second quarter. That resulted in a $3.5 million profit, or 11 cents per diluted share.
Market analysts Zacks Investment Research had predicted earnings of 9 cents per share.
The bump in sales was partly due to the $115 million acquisition of Octane Fitness at the end of last year, adding to the Nautilus line of brands that includes Bowflex and Schwinn.