Pear Izumi is where they got the Knowledge and best practice, you just Capitalize on the Fitness brands of Nautilus (in USA & the world) in Gyms, clubs, Hotels,etc. and Bowflex the fitness household name for millions in the USA. put on that the current managment experience.
All you need is just a hafty % of the market by which this company could multiple in market cap.
You hit the nail on the head "wait to Q4 to see what 2008 will look like". The problem with the current management team is that they can only grow one quarter a year (Q4) because the business is in such bad shape. If NLS were truly growing they would be able to post gains in each quarter but the fact of the matter is that they have to whore out anything they can once a year to make a number and then wait for 12 months while the retailers sell through that mountain of nearly free inventory.
This company has been managing earnings for so long that they don't know what the true business can do. No decisions have been made for the long term success of the brands, only to try and satisfy the street one quarter at a time.
It is time for an LBO or PE firm to come in and remove Gregg and the boys to create some value for investors. Obviouusly the current hedge funds aren't up to the challenge of being activists? Where is Iccan when you need him?