Nautilus 2008 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 2008 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 103

  • 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
  • 101
  • 102
  • 103

Table of Contents
NAUTILUS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Thousands)
(Continued)
43
Years Ended December 31,
2008
2007
2006
Cash flows from operating activities:
Net income (loss)
$
(90,588
)
$
(55,613
)
$
29,100
Income (loss) from discontinued operations
2,411
(9,801
)
4,180
Income (loss) from continuing operations
(92,999
)
(45,812
)
24,920
Adjustments to reconcile income (loss) from continuing operations to net cash provided by
operating activities:
Depreciation and amortization
15,496
15,686
15,154
Amortization of debt issuance costs
1,337
495
63
Impairment of goodwill
29,755
—
—
Impairment of other intangible assets
1,100
2,994
—
Impairment for terminated asset purchase agreement with Land America
—
19,364
—
Provision for long
-
term receivables
—
4,770
—
Stock
-
based compensation expense
4,792
2,679
2,534
Litigation settlement
—
(
18,300
)
—
Loss on sale of assets
755
1,111
110
Stock option income tax deficiencies (benefits)
1,174
(111
)
(48
)
Deferred tax valuation allowance
36,036
5,249
—
Deferred income taxes
(22,064
)
(23,510
)
414
Other
—
(
976
)
(869
)
Changes in operating assets and liabilities:
Trade receivables
34,354
43,749
(21,184
)
Inventories
15,115
(1,981
)
29,396
Prepaid expenses and other assets
2,533
10,491
(12,012
)
Income taxes
(1,411
)
(15,472
)
907
Trade payables
(10,049
)
(12,567
)
(2,881
)
Accrued liabilities
(8,727
)
13,921
1,956
Net cash provided by operating activities of continuing operations
7,197
1,780
38,460
Net cash provided by (used in) operating activities of discontinued operations
(1,627
)
6,724
(4,654
)
Net cash provided by operating activities
5,570
8,504
33,806