Nautilus 2008 Annual Report Download - page 45

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Table of Contents
NAUTILUS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands, except per share amounts)
See accompanying notes to consolidated financial statements.
41
Years Ended December 31,
2008
2007
2006
Net sales
$
411,178
$
501,471
$
617,271
Cost of sales
260,541
322,108
350,893
Gross profit
150,637
179,363
266,378
Operating expenses:
Selling and marketing
135,342
179,826
175,307
General and administrative
46,526
49,360
46,897
Research and development
8,469
10,336
9,416
Goodwill impairment
29,755
—
—
Restructuring
13,986
26,753
—
Litigation settlement
—
(
18,300
)
—
Total operating expenses
234,078
247,975
231,620
Operating income (loss)
(83,441
)
(68,612
)
34,758
Other income (expense):
Interest income
229
364
710
Interest expense
(1,753
)
(5,014
)
(2,576
)
Other income (expense), net
(3,744
)
1,234
1,124
Total other expense, net
(5,268
)
(3,416
)
(742
)
Income (loss) from continuing operations before income taxes
(88,709
)
(72,028
)
34,016
Income tax expense (benefit)
4,290
(26,216
)
9,096
Income (loss) from continuing operations
(92,999
)
(45,812
)
24,920
Discontinued operations:
Income (loss) from discontinued operations
3,016
(7,743
)
6,653
Income tax expense from discontinued operations
605
2,058
2,473
Income (loss) from discontinued operations, net of tax
2,411
(9,801
)
4,180
Net income (loss)
$
(90,588
)
$
(55,613
)
$
29,100
Income (loss) per share from continuing operations:
Basic and diluted
$
(2.99
)
$
(1.45
)
$
0.77
Income (loss) per share from discontinued operations:
Basic and diluted
$
0.08
$
(0.31
)
$
0.13
Income (loss) per share:
Basic and diluted
$
(2.91
)
$
(1.76
)
$
0.90
Weighted average shares outstanding:
Basic
31,117
31,538
32,300
Diluted
31,117
31,538
32,457