Fitness financials: Nautilus completes sale of Pearl Izumi to Shimano, plus Winmark

Nautilus completed its sale of Pearl Izumi to Shimano, and Winmark released its Q1 earnings.

Nautilus completes sale of Pearl Izumi to Shimano

Nautilus (NYSE: NLS) said it has completed the sale of Pearl Izumi to Shimano American Corp. for $65.3 million in cash plus $4.1 million in assumed debt. Proceeds from the deal, first announced in February, will be used to repay debt and to fund future working capital needs, the company added.

Winmark releases Q1 earnings

Winmark Corp. (Nasdaq: WINA), franchise parent of Play It Again Sports, said its first-quarter net income went up to $937,300, or $0.17 per share diluted, compared to $629,800, or $0.11 per share diluted, in the first quarter of 2007.

Revenue for the quarter was $8.8 million compared to $7.6 million in the same time period the year before.

"The results of the first quarter were favorable due to the consistent performance of our franchise business and the continued growth of our leasing portfolio. We are satisfied with the quarter, but are cautious about the remainder of the year," Winmark Chairman and CEO John Morgan said in a statement.

As of March 29, Winmark had 858 franchises in operation under various brands, including Play It Again Sports. An additional 53 retail franchises have been awarded but are not open. In addition, the company had loans and leases equal to $47.2 million.

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Fitness financials: Nautilus 1Q retail sales plummet; Bally shares to be de-listed from NYSE; plus Brunswick/Life, Cybex, Amer Sports/Precor, Matrix Fitness, Life Time Fitness, Everlast, Winmark, GSI Commerce

Nautilus 1Q sales plummet, guidance revised, WSJ notes stock sales by insidersIn a major dive after consecutive quarters of increasing or steady sales, Nautilus has announced that its first quarter of 2007 was bleak, with most of the gloomy results coming from the retail segment. more