Nautilus to consolidate manufacturing facilities

Fitness equipment maker Nautilus Inc. said Thursday it is consolidating its U.S. manufacturing and distribution facilities.

The company will close its facilities in Tulsa, Okla. by the end of the year and transfer the work to its Independence, Va. site. Nautilus distribution will be consolidated into its two centers located in Independence and Portland, Ore.

The company does not plan to eliminate any major product lines as a result of the consolidation. Nautilus said it is still calculating the related cost and will release further information during its July 31 earnings conference call.

Nautilus has struggled as it tries to execute a turnaround plan amid a weak consumer spending environment. Former Chief Executive Gregg Hamman left nearly a year ago and a shareholder group took over control of its board in December. The company posted a loss of $6.4 million, or 20 cents per share, in the first quarter.

Shares of the company fell 5 cents to $5.45 in afternoon trading.