Nautilus shares jump 12% following record quarter amid at-home fitness trend
Nautilus Inc. shares were up 12% in after-hours trading Monday after the fitness-equipment maker reported fiscal second-quarter revenue that elevated well past Wall Street estimates, pushing the company's stock to its highest price in nearly two years. Nautilus reported a net loss of $5.1 million, or 17 cents per diluted share, compared with a loss of $78.9 million, or $2.66 per diluted share, in the year-ago quarter. Revenue jumped 94% to $114.2 million from $59 million a year ago. "While we benefited from the COVID-19 at-home fitness trend, our team's agility and strong execution were essential to our outstanding results," Nautilus Chief Executive Jim Barr said in a statement. "We dramatically improved the flow of inventory in our supply chain by increasing factory capacity for our leading products by as much as 500%." Analysts surveyed by FactSet had expected a loss of 10 cents a share on revenue of $68.7 million. Nautilus shares are up 606% this year. The broader S&P 500 index has improved 4% in 2020.
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