The Nautilus Group Rings Opening Bell to Announce Move to NYSE
NEW YORK--(BUSINESS WIRE)--May 21, 2002-- New Corporate Identity Reflects More Diversified
Health and Fitness Strategy
The Nautilus Group, Inc., a leading marketer, developer, and manufacturer of branded health and fitness products, is ushering in a new corporate identity with a bell-ringing ceremony that marks the company's name change and move to the New York Stock Exchange. The company was formerly known as Direct Focus, Inc.
"This is an exciting day for The Nautilus Group. The move to the New York Stock Exchange and name change reflects the tremendous growth and diversification the company has experienced," said Brian Cook, chief executive officer. "We have now become a complete health and fitness company. Our new identity better reflects our more diversified business model and growth trajectory.
"We have a very strong stable of brands, including Bowflex, Nautilus, Schwinn and StairMaster," continued Cook. "When you combine our diversified lineup with the company's strong track record of growth in revenue, earnings and cash flows, it's clear The Nautilus Group has a strong foundation for a bright future."
Ranked the No. 2 Hot Growth Company by Business Week in 2001, the company has historically been best 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 several well-recognized brands in the health and fitness arena, 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 health and fitness market. 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 The Nautilus Group
The Nautilus Group 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 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.
This press release contains forward-looking statements relating to
anticipated sales, revenue growth, and the development of The Nautilus
Group's or Direct Focus' products and services, including statements
regarding its Nautilus, Schwinn Fitness, and StairMaster businesses.
Factors that could affect Nautilus Group's' 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 events.