Nautilus 2000 Annual Report Download - page 18

Download and view the complete annual report

Please find page 18 of the 2000 Nautilus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

herein. The data presented below should be read in conjunction with our financial statements and notes thereto and Item 7, "Management's
Discussion and Analysis of Financial Condition and Results of Operations."
IN THOUSANDS
(except per share amounts)
1996 1997 1998 1999 2000
Statement of Operations Data
Net Sales+ $
9,224 $ 21,546 $ 63,171 $ 133,079 $ 223,927
Cost of sales+ 3,330 6,774 18,316 46,483 75,573
Gross profit 5,914 14,772 44,855 86,596 148,354
Operating expenses:
Selling and marketing 4,712 9,600 22,643 44,630 73,510
General and administrative 473 975 1,701 4,237 8,804
Royalties 269 581 1,623 2,897 4,979
Litigation settlement — — — 4,000 —
Total operating expenses 5,454 11,156 25,967 55,764 87,293
Operating income 460 3,616 18,888 30,832 61,061
Other income (expense)
Interest income 37 119 527 1,003 3,632
Other-net (53 ) (88 ) (228 ) 3 347
Total other income (expense) (16 ) 31 305 1,006 3,979
Income before income taxes 444 3,647 19,193 31,838 65,040
Income tax expense (benefit) (249 ) 1,226 6,708 11,495 23,414
Net income $
693 $ 2,421 $ 12,485 $ 20,343 $ 41,626
Basic earnings per share(1)* $
0.03 $ 0.12 $ 0.59 $ 0.89 $ 1.77
Diluted earnings per share(1)* $
0.03 $ 0.11 $ 0.57 $ 0.87 $ 1.73
Basic shares outstanding* 19,256 20,222 21,008 22,874 23,525
Diluted shares outstanding* 20,123 21,401 21,884 23,457 23,999
Balance Sheet Data
Cash and cash equivalents $
1,154 $ 4,790 $ 18,911 $ 35,703 $ 77,181
Working capital 1,973 4,100 15,682 38,209 72,520
Total assets 3,515 7,922 24,373 67,310 117,126
Stockholders' equity 2,220 4,592 17,651 53,031 92,867
+
Balances reflect adoption of EITF Consensus 00-10
*
Reflects the three-for-two stock splits effective August2000 and January2001
(1)
Basic earnings per share have been computed by dividing net income by the weighted average number of shares of common stock
outstanding during each period. Diluted earnings per share have been computed by dividing net income by the weighted average number of
shares of common stock and common stock equivalents, such as stock options, outstanding during each period.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
RESULTS OF OPERATIONS
We believe that period-to-period comparisons of our operating results are not necessarily indicative of future performance. You should consider
our prospects in light of the risks, expenses and difficulties frequently encountered by companies experiencing rapid growth and, in particular,
rapidly growing
17
2002. EDGAR Online, Inc.