Nautilus 2015 Annual Report Download - page 24
Download and view the complete annual report
Please find page 24 of the 2015 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.RESULTS OF OPERATIONS
The discussion that follows should be read in conjunction with our consolidated financial statements and the related notes in this report. All comparisons to prior
year results are in reference to continuing operations only in each period, unless otherwise indicated.
Results of operations information was as follows (in thousands):
Year Ended December 31,
2015
2014 Change % Change
Net sales $ 335,764
$ 274,447 61,317 22.3 %
Cost of sales 162,530
133,872 28,658 21.4 %
Gross profit 173,234
140,575 32,659 23.2 %
Operating expenses:
Selling and marketing 101,618
81,059 20,559 25.4 %
General and administrative 21,441
22,131 (690) (3.1)%
Research and development 9,904
7,231 2,673 37.0 %
Total operating expenses 132,963
110,421 22,542 20.4 %
Operating income 40,271
30,154 10,117 33.6 %
Other income (expense):
Interest income 218
63 155
Interest expense (22)
(25) 3
Other, net (445)
32 (477)
Total other income (expense), net (249)
70 (319)
Income before income taxes 40,022
30,224 9,798
Income tax expense 13,219
9,841 3,378
Income from continuing operations 26,803
20,383 6,420
Loss from discontinued operations, net of income taxes (201)
(1,588) 1,387
Net income $ 26,602
$ 18,795 $ 7,807
Year Ended December 31,
2014
2013 Change % Change
Net sales $ 274,447
$ 218,803 $ 55,644 25.4%
Cost of sales 133,872
112,326 21,546 19.2%
Gross profit 140,575
106,477 34,098 32.0%
Operating expenses:
Selling and marketing 81,059
66,486 14,573 21.9%
General and administrative 22,131
18,705 3,426 18.3%
Research and development 7,231
5,562 1,669 30.0%
Total operating expenses 110,421
90,753 19,668 21.7%
Operating income 30,154
15,724 14,430 91.8%
Other income (expense):
Interest income 63
14 49
Interest expense (25)
(36) 11
Other, net 32
337 (305)
Total other income (expense), net 70
315 (245)
Income before income taxes 30,224
16,039 14,185
Income tax expense (benefit) 9,841
(32,085) 41,926
Income from continuing operations 20,383
48,124 (27,741)
Loss from discontinued operations, net of income taxes (1,588)
(170) (1,418)
Net income $ 18,795
$ 47,954 $ (29,159)
21