Nautilus, Inc. Executive Resigns; Chairman of the Board Assumes Interim Role
In addition to his tenure as an independent Board member of
Mr. Johnson stated: “Nautilus has an incredibly powerful portfolio of fitness brands and products. While financial results in 2018 interrupted a cadence of strong performance that we have delivered over several years, we recognize that the Company needs to continue to invest in innovative products and services to capitalize on its brands. We are especially excited with our new digital platform, which we believe represents the future of fitness.” Mr. Johnson continued: “We fully expect our new Chief Executive Officer will continue to drive and accelerate profitable growth across all of our channels, and foster our innovative culture. I am proud to assume this position on an interim basis while Nautilus completes its search. As Chairman of the Board, I am very familiar with the Executive Team and have the utmost confidence that our team can execute on its business and strategic plans and look forward to working closely with them to improve our results and market position.”
Mr. Johnson added, “I would like to take this opportunity to thank Bruce for his 7 years of dedicated service to Nautilus, and wish him all the best in his future endeavors.”
Headquartered in Vancouver, Washington,
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: projected or forecasted
financial and operating results, including future plans for introduction
of new products, anticipated demand for the Company's new and existing
products, and projected impact of the new and continuing product
launches on the Company’s operating results for future periods;
statements regarding the Company's prospects, resources or capabilities;
current or future financial and economic trends; planned investments and
initiatives and the anticipated or targeted results of such initiatives.
Factors that could cause Nautilus, Inc.’s actual results to differ
materially from these forward-looking statements include: weaker than
expected demand for new or existing products; our ability to timely
acquire inventory that meets our quality control standards from sole
source foreign manufacturers at acceptable costs; an inability to pass
along or otherwise mitigate the impact of raw material price increases
and other cost pressures, including unfavorable currency exchange rates;
experiencing delays and/or greater than anticipated costs in connection
with launch of new products, entry into new markets, or strategic
initiatives; our ability to hire and retain key management personnel;
changes in consumer fitness trends; changes in the media consumption
habits of our target consumers or the effectiveness of our media
advertising; a decline in consumer spending due to unfavorable economic
conditions; and softness in the retail marketplace. Additional
assumptions, risks and uncertainties are described in detail in our
registration statements, reports and other filings with the
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Source:
Media Contacts:
John Fread
Nautilus, Inc.
360-859-5815
jfread@nautilus.com
Kymra Knuth
The Hoffman Agency
408-568-6775
kknuth@hoffman.com
Investor Relations:
John Mills
ICR, LLC
646-277-1254
john.mills@ICRinc.com