Nautilus, Inc. Announces Resignation of Chief Financial Officer
VANCOUVER, WASHINGTON--(BUSINESS WIRE)-- June 13, 2013 - Nautilus, Inc. (NYSE: NLS ) reported today that Linda Pearce, Chief Financial Officer, has resigned to pursue other interests. Ms. Pearce’s resignation is effective July 2, 2013, and she will remain employed with the Company through that date. Ms. Pearce, a resident of Oregon who has been employed at Nautilus since August 2012, will assume the position of Chief Financial Officer for Tillamook County Creamery Association, a large dairy cooperative located in Tillamook, Oregon. The Company has initiated a national search for a replacement.
Ms. Pearce stated, “I have thoroughly enjoyed my time at Nautilus and I have the utmost respect for the employees, executive team and the company. However, I was presented with an unexpected opportunity. I am reluctantly leaving a great company and I am confident in its continued future success. I wish everyone at Nautilus the best.”
Bruce Cazenave, Chief Executive Officer, stated, “We have made tremendous progress at Nautilus in the past two years. In 2011 we reported our first annual profit since 2006. Our full year 2012 results further reflect the successful implementation of the strategic plan initiatives developed by our Executive Team and Board of Directors, and we will continue to execute on those initiatives in 2013 and beyond. We thank Linda for her contributions and wish her success in her new position.”
About Nautilus, Inc.
Headquartered in Vancouver, Washington, Nautilus, Inc. (NYSE: NLS ) is a global fitness products company providing innovative, quality solutions to help people achieve a healthy lifestyle. With a brand portfolio including Nautilus ®, Bowflex ®, TreadClimber ®, Schwinn ®, Schwinn Fitness TM and Universal ®, Nautilus markets innovative fitness products through Direct and Retail channels. Websites: www.nautilusinc.com, www.bowflex.com, www.treadclimber.com and www.corebody.com.
This press release includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning: the Company's prospects, resources or capabilities; current or future financial trends; future operating results; and success of strategic initiatives. Factors that could cause Nautilus, Inc.'s actual results to differ materially from these forward-looking statements include our ability to timely acquire inventory that meets our quality control standards from sole source foreign manufacturers at acceptable costs, availability and price of media time consistent with our cost and audience profile parameters, greater than anticipated costs associated with launch of new products, a decline in consumer spending due to unfavorable economic conditions, softness in the retail marketplace, an adverse change in the availability of credit for our customers who finance their purchases, our ability to pass along vendor raw material price increases and increased shipping costs, our ability to effectively develop, market and sell future products, our ability to protect our intellectual property, the introduction of competing products, and our ability to attract and retain key executives. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission, including the "Risk Factors" set forth in our Annual Report on Form 10-K, as supplemented by our quarterly reports on Form 10-Q. Such filings are available on our website or at www.sec.gov. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events or circumstances.
Investor Relations Contact:
John Mills, (310) 954-1105
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