Nautilus 2010 Annual Report Download - page 53

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Table of Contents
Net sales outside of the United States, primarily in Canada, represented approximately 10% of consolidated net sales in
2010 and 2009 .
(17) COMMITMENTS AND CONTINGENCIES
Operating Leases
The Company leases property and equipment under non-cancelable operating leases which, in the aggregate, extend through 2016. Many of
these leases contain renewal options and provide for rent escalations and payment of real estate taxes, maintenance, insurance and certain other
operating expenses of the properties. Rent expense under all operating leases was $3.9 million and $4.5 million in 2010 and 2009 , respectively.
As of December 31, 2010 , future minimum lease payments under non-cancelable operating leases, reduced for sublease income, are as follows
(in thousands):
51
Year Ended December 31,
(In thousands) 2010
2009
Net sales:
Direct
$
96,668
$
123,045
Retail
67,789
63,597
Unallocated corporate (royalty income)
3,993
2,618
Consolidated net sales
$
168,450
$
189,260
Contribution:
Direct
$
(10,778
)
$
(716
)
Retail
11,400
10,801
Unallocated corporate
3,994
1,664
Consolidated contribution
$
4,616
$
11,749
Reconciliation of consolidated contribution to loss from continuing operations:
Consolidated contribution
$
4,616
$
11,749
Less:
Selling and marketing expenses
(6
)
(804
)
General and administrative expenses
(14,093
)
(18,505
)
Research and development expenses
(86
)
(1,590
)
Restructuring costs
—
(
14,151
)
Intangible asset impairment charges
—
(
5,904
)
Interest expense, net
(140
)
(168
)
Other income (expense), net
479
(117
)
Income tax benefit (expense)
(588
)
10,880
Loss from continuing operations
$
(9,818
)
$
(18,610
)
Assets:
Direct
$
17,345
$
21,402
Retail
31,084
31,672
Unallocated corporate
29,938
62,098
Total assets
$
78,367
$
115,172
Depreciation and amortization expense:
Direct
$
4,000
$
5,347
Retail
2,226
1,428
Unallocated corporate
401
3,075
Total depreciation and amortization expense
$
6,627
$
9,850