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05.02.02
Direct Focus, Inc. Changes Names To The Nautilus Group And Moves To The NYSE
Direct Focus, Inc. Changes Names To The Nautilus Group And Moves To The NYSE
Direct Focus, Inc. Changes Names To The Nautilus Group And Moves To The NYSE
Vancouver, Wash. – May 2, 2002 – Direct Focus, Inc. (Nasdaq: DFXI), a leading marketer, developer, and manufacturer of branded health and fitness products, today announced plans to change its corporate name to The Nautilus Group, Inc. Concurrent with the name change, trading of the company’s shares will move from the Nasdaq National Market to the New York Stock Exchange under the new ticker symbol, “NLS.” Both the name change and the move to the NYSE will take effect on May 21, 2002.
“With our acquisition of Nautilus, Schwinn, and StairMaster, and the success of Bowflex, we have some of the most recognized brand names in the fitness industry,” said Brian Cook, chief executive officer. “The acquisition of these powerful brands, combined with our name change to The Nautilus Group, is the culmination of a long-term strategic diversification plan. Our new corporate identity better reflects our multi-faceted business model geared toward the direct, commercial and retail markets.”
“Our sales and earnings growth have exceeded analysts’ expectations for the past 13 quarters, and we continue to expect strong performance in coming periods. With our tremendous growth, we have become a complete health and fitness company driven by powerful brands, diversified products and multiple distribution channels. The one-two punch of our new corporate identity and our move to the NYSE represents the next stage in our company’s evolution. We are very excited about our future.”
To officially launch its new corporate identity and announce its move to the NYSE, Direct Focus is scheduled to open the New York Stock Exchange with a bell-ringing ceremony on May 21, 2002.
Ranked the #2 Hot Growth Company by Business Week in 2001, the company has historically been known for its Bowflex products, a highly successful line of versatile and effective strength training equipment for the home. More recently, the company has expanded its product portfolio through the acquisition of health and fitness companies, and the introduction of new branded products, such as the Nautilus Sleep System.
In 1999, Direct Focus acquired Nautilus, a manufacturer of strength training equipment for health clubs. In September 2001, the company gained entry to the consumer cardiovascular products category by purchasing the fitness assets of Schwinn. In February 2002, it acquired StairMaster and its line of commercial cardiovascular products.
With its multiple sales channels – direct-to-consumer, e-commerce, commercial, and retail – the company has tremendous marketing reach and a diversified branded product offering that is unmatched in the health and fitness industry.
Under the new name of The Nautilus Group, the company plans to continue to grow its share of the large fitness and healthy lifestyle markets. Recent industry estimates indicate that the size of the U.S. markets in 2001 for home fitness equipment, commercial fitness equipment, and mattresses were $5.8 billion, $700 million, and $7.6 billion, respectively.
About Direct Focus, Inc.
Direct Focus, 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 markets and sells its Bowflex 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. Direct Focus 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. Direct Focus is located on the Web at www.directfocusinc.com.
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This press release contains forward-looking statements relating to anticipated sales, revenue growth, and the development of Direct Focus' products and services, including statements regarding its Nautilus, Schwinn Fitness, and StairMaster businesses. Factors that could affect Direct Focus' actual results include its reliance on a limited product line, fluctuations in advertising rates, market acceptance of its existing and future products, growth management challenges including the growth resulting from the acquisition of the assets of Schwinn Fitness in September 2001 and StairMaster in February 2002, a decline in consumer spending due to unfavorable economic conditions, government regulatory action, its ability to effectively identify and negotiate any future strategic acquisitions, its ability to integrate the StairMaster business and any other acquired businesses into its operations, unpredictable events and circumstances relating to international operations including its use of foreign manufacturers, 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 even
“With our acquisition of Nautilus, Schwinn, and StairMaster, and the success of Bowflex, we have some of the most recognized brand names in the fitness industry,” said Brian Cook, chief executive officer. “The acquisition of these powerful brands, combined with our name change to The Nautilus Group, is the culmination of a long-term strategic diversification plan. Our new corporate identity better reflects our multi-faceted business model geared toward the direct, commercial and retail markets.”
“Our sales and earnings growth have exceeded analysts’ expectations for the past 13 quarters, and we continue to expect strong performance in coming periods. With our tremendous growth, we have become a complete health and fitness company driven by powerful brands, diversified products and multiple distribution channels. The one-two punch of our new corporate identity and our move to the NYSE represents the next stage in our company’s evolution. We are very excited about our future.”
To officially launch its new corporate identity and announce its move to the NYSE, Direct Focus is scheduled to open the New York Stock Exchange with a bell-ringing ceremony on May 21, 2002.
Ranked the #2 Hot Growth Company by Business Week in 2001, the company has historically been known for its Bowflex products, a highly successful line of versatile and effective strength training equipment for the home. More recently, the company has expanded its product portfolio through the acquisition of health and fitness companies, and the introduction of new branded products, such as the Nautilus Sleep System.
In 1999, Direct Focus acquired Nautilus, a manufacturer of strength training equipment for health clubs. In September 2001, the company gained entry to the consumer cardiovascular products category by purchasing the fitness assets of Schwinn. In February 2002, it acquired StairMaster and its line of commercial cardiovascular products.
With its multiple sales channels – direct-to-consumer, e-commerce, commercial, and retail – the company has tremendous marketing reach and a diversified branded product offering that is unmatched in the health and fitness industry.
Under the new name of The Nautilus Group, the company plans to continue to grow its share of the large fitness and healthy lifestyle markets. Recent industry estimates indicate that the size of the U.S. markets in 2001 for home fitness equipment, commercial fitness equipment, and mattresses were $5.8 billion, $700 million, and $7.6 billion, respectively.
About Direct Focus, Inc.
Direct Focus, 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 markets and sells its Bowflex 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. Direct Focus 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. Direct Focus is located on the Web at www.directfocusinc.com.
###
This press release contains forward-looking statements relating to anticipated sales, revenue growth, and the development of Direct Focus' products and services, including statements regarding its Nautilus, Schwinn Fitness, and StairMaster businesses. Factors that could affect Direct Focus' actual results include its reliance on a limited product line, fluctuations in advertising rates, market acceptance of its existing and future products, growth management challenges including the growth resulting from the acquisition of the assets of Schwinn Fitness in September 2001 and StairMaster in February 2002, a decline in consumer spending due to unfavorable economic conditions, government regulatory action, its ability to effectively identify and negotiate any future strategic acquisitions, its ability to integrate the StairMaster business and any other acquired businesses into its operations, unpredictable events and circumstances relating to international operations including its use of foreign manufacturers, 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 even