Nautilus, Inc. reported its unaudited operating results this week for the second quarter ended June 30, 2016. The Vancouver-headquartered company reported $78.5 million in net sales for the quarter, a 31.6 percent increase compared to the same quarter of 2015.
The company said the increase in revenues was driven by incremental sales resulting from the acquisition of Octane Fitness, along with organic sales growth in both direct and retail segments.
For the first six months of 2016, net sales were $199.5 million, an increase of 27.9 percent over the same period last year.
“We are very pleased with our overall performance in the second quarter,” said Nautilus CEO Bruce Cazenave in a press release. “Solid revenue growth and increased gross margins in both the direct and retail business segments resulted in operating income growth of over 67 percent. The organic retail business grew 19 percent and when including revenue fromOctane Fitness, retail revenue increased 89 percent. Our disciplined approach to revenue and operating income growth continues to pay dividends.”
Looking ahead to the second half of the year, Cazenave said the company is well-positioned for more growth with new product introductions on the way.
“Our focus on product innovation and channel diversification will provide the foundation for continued growth in market share both domestically and internationally,” he said. “The integration of Octane Fitness is also progressing as expected and the early receptivity of Octane’s commercial Zero Runner, launched late in the second quarter, has been very positive.”
