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Nautilus Inc. Message Board

  • yahoo yahoo May 12, 2005 5:39 AM Flag

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    • DJ Nautilus/Job Cuts -2: Stock Halted At $12.28, Dn 1%

      VANCOUVER, Wash. (Dow Jones)--Nautilus Group Inc. (NLS) will enact a work force reduction expected to produce $4 million in annual pretax cost savings.

      The savings equals about 8% of current labor costs.

      In a press release Friday, the health and fitness products maker said it expects to record a restructuring charge of about $200,000 in the third quarter.

      New York Stock Exchange-listed shares of Nautilus Group were halted at $12.28, down 13 cents, or 1%.

      (MORE) Dow Jones Newswires

      September 12, 2003 14:11 ET (18:11 GMT)

    • lol try to finish your post without reverting to your default alias next time.

      • 1 Reply to astral_tsar
      • VANCOUVER, Wash.--(BUSINESS WIRE)--Sept. 12, 2003--The Nautilus Group, Inc. (NYSE: NLS - News), a leading marketer, developer, and manufacturer of branded health and fitness products, announced today a reduction in its workforce to lower expenses in response to the current business environment.
        For the third quarter of 2003, the company expects to record a restructuring charge of approximately $200,000. When fully implemented, this workforce reduction is expected to produce approximately $4 million in annual pre-tax cost savings, which equates to approximately 8% of current labor costs. This savings is being achieved through attrition, headcount reduction of employees, and the elimination of contract workers.

        Gregg Hammann, President and Chief Executive Officer stated: "While the company enjoys a very strong financial position, we continually review the performance of our business segments, facilities and products. We believe today's action is a necessary response to the current business environment and will enhance long-term value for our shareholders."

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