Nautilus, Inc. reported its unaudited operating results this week for the first quarter ended March 31, 2016. The Vancouver-headquartered company reported $120.9 million in net sales for the quarter, a 25.7 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.
“We are very pleased with our solid start to 2016 as revenue, operating income and EBITDA all improved significantly during the first quarter,” said Nautilus CEO Bruce Cazenave. “Our organic retail business delivered strong growth in excess of 20 percent, while our total retail segment revenues including the incremental revenues from Octane Fitness increased by 82 percent.
“The direct business also had a robust quarter with revenues growing 10 percent versus a challenging comparable period last year, in which revenues were up 46 percent year over year,” Cazenave continued. “Our overall performance reflects continued progress with our key initiatives across all aspects of our business as well as solid underlying demand for both cardio and strength products.”
Cazenave said the company is now focused on the early stages of integrating the Octane Fitness acquisition to drive anticipated benefits of revenue synergies and supply chain efficiencies over the coming quarters.
