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EX-99.1 - EXHIBIT 99.1 - NAUTILUS, INC. | ex99112312017.htm |
8-K - 8-K - NAUTILUS, INC. | er8k12312017.htm |
Exhibit 99.2
NAUTILUS, INC. INCREASES SHARE REPURCHASE PROGRAM BY $15 MILLION
VANCOUVER, WASHINGTON, March 5, 2018 - Nautilus, Inc. (NYSE: NLS) today announced that its Board of
Directors approved an additional $15 million share repurchase program, bringing the total authorization under
existing programs to $30 million. The Company has completed approximately $3.0 million in total share repurchases
under the $15 million program announced in May 2017. The balance of $12.0 million under that program may be
repurchased from time to time through April 25, 2019. Shares may be repurchased under the new $15 million program
from time to time through February 21, 2020. Repurchases under the Company’s programs may be made in open
market transactions at prevailing prices, in privately negotiated transactions, or by other means in accordance with
federal securities laws. The timing, number and value of shares repurchased under the programs will depend on a
number of factors, including the market price of Nautilus' common stock, general market and economic conditions,
assessment of alternate uses of cash and applicable legal requirements. The Company previously completed $25
million of repurchases under share repurchase programs announced in November 2014 and May 2016.
Bruce Cazenave, Chief Executive Officer, commented “Nautilus is committed to delivering long-term value for our
shareholders by utilizing our strong cash flow and healthy balance sheet to enhance value in multiple ways.
Investment in growth-oriented initiatives, both organic and through acquisitions, remain our top priorities in terms of
capital deployment. We also recognize that the Company’s operating cash flow provides the flexibility to enhance
shareholder value by opportunistically repurchasing shares when market conditions are favorable.”
Share repurchases will be funded from existing cash balances and repurchased shares will be retired and returned to
unissued authorized shares. The share repurchase program does not obligate the company to repurchase any dollar
amount or number of shares of its common stock and the program may be extended, modified, suspended or
discontinued at any time.
About Nautilus, Inc.
Headquartered in Vancouver, Washington, Nautilus, Inc. (NYSE: NLS) is a global fitness solutions company that
believes everyone deserves a fit and healthy life. With a brand portfolio including Bowflex®, Nautilus®, Octane
Fitness®, Schwinn® and Universal®, Nautilus, Inc. develops innovative products to support healthy living through
direct and retail channels as well as in commercial channels with Octane Fitness® products.
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 among other things, statements regarding the value
of shares repurchased through our share repurchase program, the duration of such program and our ability to continue
investing in our business initiatives. Actual results could differ materially from those projected in the forward-looking
statements as a result of certain risk factors, including but not limited to: (i) fluctuations and volatility in our stock
price; (ii) the impact of macroeconomic conditions on customer demand for our products; (iii) changes in our financial
condition; (iv) changes in business opportunities and priorities that could cause us to consider alternative uses of cash;
(v) fluctuations in the level of cash that we have available for stock repurchases; and (vi) covenant obligations
imposed by our existing or future financing agreements. These forward-looking statements are based on current
expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other
risks detailed in documents filed with the Securities and Exchange Commission, including our most recent reports on
Form 10-K and Form 10-Q and current reports on Form 8-K that we may file from time to time, which could cause
actual results to vary from expectations. Nautilus assumes no obligation to, and does not currently intend to, update
any such forward-looking statements after the date of this release.
# # # #
SOURCE: Nautilus, Inc.
Investor Relations Contact:
John Mills, ICR, LLC
Telephone: (646) 277-1254