Court Rules in Favor of The Nautilus Group; The Nautilus Group is Granted Injunctive Relief; The Court Bars ICON from Using the Trademark -CrossBow- on Exercise Equipment
VANCOUVER, Wash., Jul 31, 2003 (BUSINESS WIRE) --
The Nautilus Group, Inc. (NYSE: NLS), a leading marketer, developer, and manufacturer of branded health and fitness products, announced today that the United States District Court for the Western District of Washington ruled in favor of The Nautilus Group on a motion for preliminary injunction, and entered an order now barring ICON Health & Fitness, Inc. from using the mark "CrossBow" on any exercise equipment.
In its ruling, the Court concluded that Nautilus showed "a probability of success on the merits and irreparable injury" on its trademark infringement claim.
"This preliminary injunction now prevents ICON and anyone acting in concert with ICON from marketing, advertising, or selling any fitness equipment that bears the "CrossBow" mark at least until the trial in December 2003 is concluded," stated Brian Cook, Chairman. "We are very pleased that the Court recognized the strength of our trademark infringement case."
"Nautilus is aggressively pursuing the remaining claims for patent infringement based on literal infringement, the "doctrine of equivalents" and unfair competition. "Our Appeal from the motion denying our preliminary injunction on literal patent infringement is scheduled for September 4, 2003 and the trial is scheduled for December 1, 2003", commented Gregg Hammann, President and CEO. "We are committed to growing all our brands. Bowflex is a strong brand in our portfolio. We will aggressively protect and defend our brands and intellectual property to insure their health. We will use all remedies provided by law including seeking monetary damages."
About The Nautilus Group
The Nautilus Group, Inc. is a leading marketer, developer, and manufacturer of branded health and fitness products sold under such well-known names as Nautilus, Bowflex, Schwinn and StairMaster. The Company currently markets its Bowflex and TreadClimber home fitness equipment and Nautilus Sleep Systems through its direct-marketing channel, using an effective combination of television commercials, infomercials, response mailings, the Internet, and inbound/outbound call centers. The Company sells its Nautilus, Schwinn and StairMaster commercial fitness equipment through its sales force and selected dealers to health clubs, government agencies, hotels, corporate fitness centers, colleges, universities, and assisted living facilities. The Nautilus Group also markets and sells a complete line of consumer fitness equipment, under its Nautilus, Schwinn and StairMaster brands, through a network of specialty dealers, distributors, and retailers worldwide. The Company is headquartered in Vancouver, Washington. The Nautilus Group is located on the Web at www.nautilusgroup.com.
From time to time, The Nautilus Group may issue forward-looking statements relating to its products and services, including statements regarding its direct and commercial/retail segment businesses. Factors that could affect The Nautilus Group's actual results include availability of media time and fluctuating advertising rates, a decline in consumer spending due to unfavorable economic conditions, expiration of important patents, its reliance on a limited product line, its ability to effectively develop, market, and sell future products, its ability to effectively identify and negotiate any future strategic acquisitions, its ability to integrate any acquired businesses into its operations, unpredictable events and circumstances relating to international operations including its use of foreign manufacturers, government regulatory action, and general economic conditions. Please refer to our reports and filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q, for a further discussion of these risks and uncertainties. We also caution you not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
SOURCE: The Nautilus Group, Inc.
The Nautilus Group, Inc. Rod Rice Chief Financial Officer 360-694-7722 or Investor Relations Inquiries: Integrated Corporate Relations, Inc. John Mills 562-256-7049 203-222-9013
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