Nautilus 2009 Annual Report Download - page 38

Table of Contents
NAUTILUS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
See accompanying notes to consolidated financial statements.
34
2009 2008
Net sales
$
189,260
$
283,712
Cost of sales
92,745
147,930
Gross profit
96,515
135,782
Operating expenses:
Selling and marketing
75,827
107,613
General and administrative
24,616
35,353
Research and development
5,222
6,615
Restructuring
14,151
13,938
Intangible asset impairments
5,904
—
Goodwill impairment
—
29,755
Total operating expenses
125,720
193,274
Operating loss
(29,205
)
(57,492
)
Other income (expense):
Interest income
77
229
Interest expense
(168
)
(1,753
)
Other income (expense), net
(194
)
501
Total other expense, net
(285
)
(1,023
)
Loss from continuing operations before income taxes
(29,490
)
(58,515
)
Income tax benefit
(10,880
)
(5,918
)
Loss from continuing operations
(18,610
)
(52,597
)
Discontinued operations:
Loss from discontinued operations, including estimated disposal loss of $9,491 in 2009
(34,777
)
(27,178
)
Income tax expense (benefit) from discontinued operations
(90
)
10,813
Loss from discontinued operations, net of tax
(34,687
)
(37,991
)
Net loss
$
(53,297
)
$
(90,588
)
Loss per share from continuing operations:
Basic and diluted
$
(0.61
)
$
(1.69
)
Loss per share from discontinued operations:
Basic and diluted
$
(1.13
)
$
(1.22
)
Loss per share:
Basic and diluted
$
(1.74
)
$
(2.91
)
Weighted average shares outstanding:
Basic and diluted
30,664
31,117