Nautilus 2014 Annual Report Download - page 58
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(14) STOCK REPURCHASE PROGRAM
On November 3, 2014 , our Board of Directors approved a stock repurchase program that authorizes us to repurchase up to $15 million
of our
outstanding common stock from time to time over a period of 24 months. The repurchase program expires November 3, 2016
. Share
repurchases will be funded with existing cash balances and repurchased shares will be retired and returned to unissued authorized shares. To
date, we have not repurchased any shares pursuant to the program.
(15) INCOME PER SHARE
The weighted average numbers of shares outstanding used to compute income per share amounts were as follows (in thousands):
The weighted average numbers of shares outstanding listed in the table below were anti-
dilutive and excluded from the computation of Diluted
Income Per Share, primarily because the average market price did not exceed the exercise price. These shares may be dilutive potential common
shares in the future (in thousands):
(16) SEGMENT AND GEOGRAPHIC INFORMATION
We have two reportable segments -
Direct and Retail. Contribution is the measure of profit or loss, defined as Net Sales less product costs and
directly attributable expenses. Directly attributable expenses include Selling and Marketing expenses, General and Administrative expenses, and
Research and Development expenses that are directly related to segment operations. Segment assets are those directly assigned to an operating
segment's operations, primarily Accounts Receivable, Inventories, Goodwill and Other Intangible Assets. Unallocated assets primarily include
Cash and Cash Equivalents, Available-for-
Sale securities, shared information technology infrastructure, distribution centers, corporate
headquarters, Prepaids and Other Current Assets, Deferred Income Tax Assets and Other Assets. Capital expenditures directly attributable to the
Direct and Retail segments were not significant in any period.
51
Year Ended December 31,
2014
2013
2012
Shares used for basic per share calculations
31,253
31,072
30,851
Dilutive effect of outstanding options, PSUs and RSUs
435
385
123
Shares used for diluted per share calculations
31,688
31,457
30,974
As of December 31,
2014
2013
2012
Stock options
225
304
1,072
PSUs
—
12
26