Hanging its hat on rows of new product in the last year -- with another rollout expected at the IHRSA club show in February -- Cybex (AMEX: CYB) has announced that net sales for the fourth quarter ended Dec. 31, 2002, are expected to reach approximately $24.6 million, or an increase of 10 percent compared to net sales for the fourth quarter of 2001. The company also expects to report a profit for the fourth quarter, and said it expects net sales in 2003 to exceed net sales of 2002 by 3 percent to 5 percent. "The Cybex turnaround is behind us and we are pleased that our product development efforts are yielding results, said John Aglialoro, chairman and CEO. The company also confirmed that the previously announced engagement of Legg Mason to explore financing alternatives for the company's debt facility is proceeding on schedule.
SNEWS View: A little is better than nothing and maybe there is some light at the end of the tunnel. We are anxious to hear more in the final quarterly report about losses, too.