Nautilus 2012 Annual Report Download - page 22
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Table of Contents
COMPARISON OF THE YEARS ENDED DECEMBER 31, 2012 AND 2011
The discussion that follows should be read in conjunction with our consolidated financial statements and the related notes in this report. All
comparisons to prior year results are in reference to continuing operations only in each period, unless otherwise indicated.
The following table compares selected financial information in our consolidated statements of operations for the years ended
December 31, 2012
and 2011 (in thousands):
The following table compares the net sales and gross margins of our business segments for the years ended December 31, 2012 and 2011 (in
thousands):
17
Year Ended December 31,
2012 2011 Change % Change
Net sales
$
193,926
$
180,412
$
13,514
7.5
%
Cost of sales
102,889
101,953
936
0.9
%
Gross profit
91,037
78,459
12,578
16.0
%
Operating expenses:
Selling and marketing
58,617
54,494
4,123
7.6
%
General and administrative
17,669
17,143
526
3.1
%
Research and development
4,163
3,223
940
29.2
%
Total operating expenses
80,449
74,860
5,589
7.5
%
Operating income
10,588
3,599
6,989
Other income (expense):
Interest income
18
65
(47
)
Interest expense
56
(466
)
522
Other
(246
)
(11
)
(235
)
Total other expense
(172
)
(412
)
240
Income before income taxes
10,416
3,187
7,229
Income tax (benefit) expense
(226
)
686
(912
)
Income from continuing operations
10,642
2,501
8,141
Income (loss) from discontinued operation, net of income taxes
6,241
(1,081
)
7,322
Net income
$
16,883
$
1,420
$
15,463
Year Ended December 31,
2012 2011 Change % Change
Net sales:
Direct
$
124,978
$
107,061
$
17,917
16.7
%
Retail
63,891
68,591
(4,700
)
(6.9
)%
Royalty income
5,057
4,760
297
6.2
%
Total net sales
$
193,926
$
180,412
$
13,514
7.5
%
Gross profit:
Direct
$
71,629
$
57,655
$
13,974
24.2
%
Retail
14,351
16,044
(1,693
)
(10.6
)%
Royalty income
5,057
4,760
297
6.2
%
Total gross profit
$
91,037
$
78,459
$
12,578
16.0
%
Gross margin:
Direct
57.3
%
53.9
%
340
basis points
Retail
22.5
%
23.4
%
(90
)
basis points