Nautilus 2014 Annual Report Download - page 36

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NAUTILUS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
See accompanying Notes to Consolidated Financial Statements.
30
Year Ended December 31,
2014 2013 2012
Net sales
$
274,447
$
218,803
$
193,926
Cost of sales
133,872
112,326
102,889
Gross profit
140,575
106,477
91,037
Operating expenses:
Selling and marketing
81,059
66,486
58,617
General and administrative
22,131
18,705
17,669
Research and development
7,231
5,562
4,163
Total operating expenses
110,421
90,753
80,449
Operating income
30,154
15,724
10,588
Other income (expense):
Interest income
63
14
18
Interest expense
(25
)
(36
)
56
Other
32
337
(246
)
Total other income (expense), net
70
315
(172
)
Income from continuing operations before income taxes
30,224
16,039
10,416
Income tax provision (benefit)
9,841
(32,085
)
(226
)
Income from continuing operations
20,383
48,124
10,642
Discontinued operations:
Income (loss) from discontinued operations before income taxes
(1,134
)
(559
)
6,007
Income tax provision (benefit) of discontinued operations
454
(389
)
(234
)
Income (loss) from discontinued operations
(1,588
)
(170
)
6,241
Net income
$
18,795
$
47,954
$
16,883
Basic income per share from continuing operations
$
0.65
$
1.55
$
0.34
Basic income (loss) per share from discontinued operations
(0.05
)
(0.01
)
0.21
Basic net income per share
$
0.60
$
1.54
$
0.55
Diluted income per share from continuing operations
$
0.64
$
1.53
$
0.34
Diluted income (loss) per share from discontinued operations
(0.05
)
(0.01
)
0.21
Diluted net income per share
$
0.59
$
1.52
$
0.55
Shares used in per share calculations:
Basic
31,253
31,072
30,851
Diluted
31,688
31,457
30,974