Nautilus 2002 Annual Report Download - page 38

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INDEPENDENT AUDITORS' REPORT
Board of Directors and Stockholders of
The Nautilus Group, Inc.
We have audited the accompanying consolidated balance sheets of The Nautilus Group, Inc. and subsidiaries as of December 31, 2002 and
2001, and the related consolidated statements of income, stockholders' equity and comprehensive income, and cash flows for each of the three
years in the period ended December 31, 2002. These financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of The Nautilus Group, Inc.
and subsidiaries as of December 31, 2002 and 2001, and the results of their operations and their cash flows for each of the three years in the
period ended December 31, 2002, in conformity with accounting principles generally accepted in the United States of America.
Portland, Oregon
January 21, 2003
-38-
2003. EDGAR Online, Inc.