Nautilus 2002 Annual Report Download - page 61

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11. EARNINGS PER SHARE
Basic earnings per share is computed on the basis of the weighted average number of common shares outstanding. Diluted earnings per share is
computed on the basis of the weighted average number of common shares outstanding plus the effect of outstanding stock options calculated
using the treasury stock method. Net income for the calculation of both basic and diluted earnings per share is the same for all periods.
The calculation of weighted-average outstanding shares is as follows:
Average Shares
---------------------------------------
2002 2001 2000
Basic shares outstanding 34,499,482 35,183,632
35,287,604
Dilutive effect of stock options 643,312 782,406
709,762
----------- -----------
-----------
Diluted shares outstanding 35,142,794 35,966,038
35,997,366
=========== ===========
===========
Outstanding stock options of 263,575, 169,500, and 278,325 for the years ended December 31, 2002, 2001 and 2000, respectively, were not
included in the calculation of diluted earnings per share because they would be antidilutive.
12. STOCK REPURCHASE PROGRAM
Two times during fiscal 2002, the Board of Directors authorized the purchase of The Nautilus Group, Inc. common stock in open-market
transactions. In June 2002, the Board of Directors authorized the expenditure of up to $20,000 to purchase shares of the Company's common
stock through and including August 31, 2002. In October 2002, the Board of Directors authorized the repurchase of the Company's common
stock commencing October 21, 2002 through and including January 31, 2003, provided the aggregate amount spent on such repurchases during
this period did not exceed $30,000. During the year ended December 31, 2002, the Company repurchased a total of 2,843,120 shares of
common stock in open-market transactions for an aggregate purchase price of $49,969.
Three times during fiscal 2001, the Board of Directors authorized the expenditure of up to $20,000 to purchase shares of The Nautilus Group,
Inc. common stock in open-market transactions. In October 2001, the Board of Directors authorized a $10,000 repurchase program extending
through January 31, 2002 and the remaining balance of the $20,000 repurchase program was terminated. During the year ended December 31,
2001, the Company repurchased a total of 941,759 shares of common stock in open market transactions for an aggregate purchase price of
$16,310.
13. STOCK SPLITS
On December 8, 2000, the Board of Directors approved a three-for-two stock split in the form of a share dividend payable to Company
stockholders of record as of January 2, 2001 with a payment date of January 15, 2001. On July 13, 2001, the Board of Directors approved
another three-for-two stock split in the form of a share dividend, payable August 13, 2001 to the Company's stockholders of record as of August
2, 2001. All share and per-share numbers contained herein reflect these stock splits.
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2003. EDGAR Online, Inc.