Nautilus 2003 Annual Report Download - page 58

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Table of Contents
The results of operations subsequent to the date of the StairMaster and Schwinn Fitness acquisitions are included in the consolidated
financial statements of the Company.
The unaudited pro forma financial information below for the years ended December 31, 2002 and 2001 was prepared as if the
transactions involving the acquisitions of StairMaster and Schwinn Fitness had occurred at January 1, 2001:
2002
2001
Net sales
$
590,929
$
498,690
Net income
98,111
41,879
Basic earnings per share
2.84
1.19
Diluted earnings per share
2.79
1.16
The unaudited pro forma financial information is not necessarily indicative of what actual results would have been had the transactions
occurred at the beginning of the respective year, nor does it purport to indicate the results of future operations of the Company.
5. INVENTORIES
Inventories at December 31 consisted of the following:
2003
2002
Finished goods
$
30,901
$
45,317
Work
-
in
-
process
2,294
1,317
Parts and components
19,934
17,164
Inventories
$
53,129
$
63,798
6.
PROPERTY, PLANT AND EQUIPMENT, net
Details of property, plant and equipment are summarized as follows at December 31:
-
57
-
Estimated
Useful Life
(in years)
2003
2002
Land
N/A
$
3,468
$
3,468
Buildings and improvements
31.5
21,964
21,839
Computer equipment
2 to 5
28,159
26,252
Production equipment
5
16,838
13,647
Furniture and fixtures
5
1,608
1,433
Automobiles
7
590
549
Total property, plant and equipment
72,627
67,188
Accumulated depreciation
(22,025
)
(11,624
)
Property, plant and equipment, net
$
50,602
$
55,564