Cybex 2Q sales slip, loss widens; Under Armour revenue up 27 percent

Cybex reported lower sales and a wider loss for the second quarter 2012. Meanwhile, Under Armour's sports and fitness apparel and footwear business continues to shine.
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Cybex (Nasdaq: CYBI) reported lower sales and a wider loss for the second quarter 2012.

The Medway, Mass.-based fitness equipment manufacturer saw its latest quarterly revenue dip 5.5 percent to $30.8 million. Cybex’s net loss increased to $1.2 million, versus a net loss of $600,000 a year ago.

Company officials had warned earlier of weaker sales, saying the U.S. consumer is still on shaky ground. Also, Cybex is still paying off litigation-related charges — this quarter totaling $1.3 million.

Company officials said they remain optimistic for the longer term, noting they are scheduled to introduce the Cybex 525 series of cardio products in the fourth quarter. They described the line as targeted to better reach light commercial market segments, featuring lower price points, value durability and ease of use.

Under Armour sales jump 27 percent

There’s little slowdown in the consumer appetite for Under Armour.

The Baltimore, Md.-based sportswear company reported its second-quarter 2012 revenue up 27 percent to $369 million, while it’s quarterly profit rose to $7 million, compared to $6 million a year ago.

Under Armour officials reported a 44 percent rise to $67 million in footwear sales, 23 percent gain to $253 million in apparel and a 21 percent increase to $39 million in accessories.

The positive results led officials to raise their 2012 revenue guidance, now expected to grow by 25-26 percent to between $1.8 billion and $1.2 billion, up from previous projections of a 21-22 percent increase.

--Compiled by David Clucas

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