Company:Nautilus, Inc.

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Short description: American fitness equipment company
Nautilus, Inc.
TypePublic
NYSE: NLS
S&P 600 Component
IndustryExercise equipment
Founded1986 (1986)
HeadquartersVancouver, WA
Key people
James "Jim" Barr IV (CEO)
Aina E. Konold (CFO)
RevenueDecrease US$309.29 million (2019)[1]
Decrease US$−28.54 million (2019)[1]
Decrease US$−92.8 million (2019)[1]
Total assetsDecrease US$220.48 million (2019)[1]
Total equityDecrease US$90.6 million (2019)[1]
Number of employees
434 (2020)[2]
Websitewww.nautilusinc.com

Nautilus, Inc., located in Vancouver, Washington, United States , is the American worldwide marketer, developer, and manufacturer of fitness equipment brands Bowflex, Modern Movement, Nautilus, Schwinn Fitness, and Universal.[3] The products are sold globally to customers through a combination of television commercials/infomercials, the Internet, call centers and retail stores.[4][5]

Organization

Nautilus, Inc. is the maker of fitness equipment brands Bowflex, Modern Movement, Nautilus, Octane Fitness, Schwinn Fitness and Universal Gym Equipment, sold globally directly to customers through a combination of television commercials, infomercials, response mailings, the Internet, inbound/outbound call centers and retail stores.[4][5]

James “Jim” Barr IV, a former OfficeMax and Microsoft executive, was named CEO in July 2019.[6]

In 2015, the company opened a new building across from its headquarters in Vancouver, Washington, United States to expand its development and research team, and to house the company's only retail location – The Nautilus Shop.[4][7]

The company also has offices in China and Rotterdam, and distribution centers in Portland, Oregon and Columbus, Ohio.[8]

Brian Cook, held the CEO position for 17 years, from to 1986 to 2003 when he was replaced by Gregg Hammann.[9][10] who resigned in August 2007 after sales fell to $134 million from $159.6 million in 2006.[11]

In 2007, after Hammann's departure, Robert S. Falcone, the former Nike chief financial officer, became the Nautilus, Inc. interim chief executive officer,[12] where he also served as president and chairman since October 17, 2007.[13] In April 2008, Falcone was replaced by Edward Bramson, a major stock owner.[14] Under Bramson's leadership, the company changed sales focus to solely direct-to-customer and retail businesses, which resulted in the sale of its StairMaster brand.[14] Bramson was CEO and chairman of Nautilus, Inc. until May 2011, when he announced he would be stepping down and Bruce M. Cazenave, former executive with Black and Decker and Timberland, would be the new CEO.[14]

History

Nautilus, Inc. originated in 1986 with the sale of most of the company by the inventor of Nautilus machines, Arthur Jones.[15] Jones created the Nautilus machine, then called the Blue Monster, in the late 1960s, with the purpose of developing a fitness machine that accommodates human movement.[15] The company's name was changed to Nautilus because the logarithmic-spiral cam, which made the machine a success, resembled a nautilus.[15]

Bowflex acquired Nautilus, Inc. and specialized in designing, developing and marketing strength and cardio fitness products.[4] In 1997, the company changed its name to Direct Focus and acquired the Nautilus, Schwinn and StairMaster brands between 1999 and 2002, before changing its name to Nautilus, Inc.[4] Nautilus became a publicly traded company in May 1999.[16]

The company stopped selling exercise equipment to gyms in 2011 and shifted its focus to home-use equipment. The same year, Nautilus, Inc. licensed its brand name and technology to other manufacturers.[4]

In 2004, Nautilus, Inc. was sued by Biosig Instruments for allegedly infringing its design for heart-rate monitors.[17] The case eventually reached the United States Supreme Court, who used it to establish reasonable certainty as the standard for judging whether or not a patent claim is indefinite.[17]

Nautilus, Inc. acquired Octane Fitness, LLC from private equity firm North Castle Partners on December 31, 2015.[18]

The company was recognized by The Oregonian as one of the top places to work,[19][20][21] as well as the company with the healthiest employees of Oregon by the Portland Business Journal, in its 100-499 employee category.[22][23]

Nautilus, Inc. has been an American Heart Association Fit-Friendly company since 2010.[24][25] The company is recognized for its Road to Wellness Program, which challenges and rewards employees to get healthier.[25]

Finance

From 2011 to 2017, the company's cash position increased from $17 million to $85 million.[26]

As a result of its three-year profit, revenue and stock growth, Nautilus, Inc. was No. 23 on Fortune's 100 Fastest Growing Companies list in 2015.[27]

On March 18, 2014, Bruce Cazenave, CEO of Nautilus, Inc., rang the New York Stock Exchange's opening bell. Nautilus, Inc. also featured its new home fitness cardio machine, the Bowflex Max Trainer machine, on the NYSE trading floor and discussed the company's 2013 fourth quarter and full year financial growth.[28]

In 2013, Nautilus, Inc. posted $218.8 million in revenue, a 13% increase over 2012.[4][29] The company's financial performance in the past two years has led to Nautilus, Inc. landing at No. 4 on The Seattle Times’ 23rd annual ranking of publicly traded companies based in the Northwest.[4]

Since 2012, the company's stock has increased to more than $14 a share.[4]

Brands and products

The Nautilus, Inc. portfolio includes global fitness equipment brands Bowflex, Nautilus, Modern Movement, Octane Fitness, Schwinn and Universal.[30]

Bowflex

Main page: Engineering:Bowflex

Bowflex is the brand name for a series of fitness training equipment.[31][16] The first Bowflex product, Bowflex 2000X home gym, was created in 1986.[16] Bowflex products now range from cardio machines,[32] to adjustable dumbbells [33] and home gyms.[34] The Bowflex brand includes the Bowflex Max Trainer[22] and Bowflex TreadClimber machines,[16] the SelectTech Adjustable dumbbells[35] for strength training, and Bowflex Xtreme 2 home gym[36] and Bowflex Revolution home gym.[37]

The brand also makes treadmills and elliptical machines.[38]

Schwinn

The Schwinn brand includes cardio products such as the Schwinn Airdyne bike,[39] designed to challenge users’ entire body by increasing wind resistance the harder they pedal.[40] The Schwinn Airdyne Pro bike model received the 2016 Good Design Award [41][42] from the European Centre for Architecture Art Design and Urban Studies. The brand also includes Schwinn ellipticals[43] and Schwinn stationary bikes.[44]

In addition to upright and indoor cycling bikes, the Schwinn brand also includes treadmills [45] and rowing machines,[46] as well as the vintage styled Schwinn Classic Cruiser [47][48] bike with a digital app.

Nautilus

Created in the 1970s, the Nautilus brand developed the variable-resistance cable machine.[49][50] The Nautilus brand sells through direct, e-commerce, retail and international channels and includes cardio products such as ellipticals, treadmills, and bikes.[51]

The Nautilus E618 [52] elliptical cardio machine is made from tubular steel for strength and durability. The E618 elliptical also includes a LCD display, which tracks users' progress and heart rate.[53] The brand also includes Nautilus T618 treadmill [54] which comes with 26 workout programs.[55]

Universal

Founded in 1957, the Universal Gym Equipment brand is known for its strength equipment. In 2006, it was acquired by Nautilus, Inc.[56]

Octane Fitness

Founded in 2001 by Dennis Lee and Tim Porth, Octane Fitness is a cardio equipment manufacturer specializing in elliptical machines for home and commercial use. Nautilus, Inc. acquired the Octane Fitness brand in December 2015 and integrated operations into the existing corporate structure.[57][58][59]

Octane Fitness cardio machines include elliptical machines such as the Octane Fitness Q37 standing elliptical machine,[60] xRide recumbent machine, Octane Fitness LateralX lateral cross training machine.[61][62] In 2014, the brand introduced the Octane Fitness Zero Runner ZR7 home [63][64][65] exercise machine built to replicate walking, jogging or running and is constructed with independent hip and knee joints that allow users to customize their motion.[66] Commercial versions of the Octane Fitness Zero Runner machine, the ZR7000 and ZR8000 were introduced for use in fitness clubs and gyms.[67]

The brand also makes the commercial grade Octane Fitness AirdyneX bike [68][69] and Octane Fitness Max Trainer MTX cardio machine.[70]

Modern Movement

The Modern Movement brand has training products such as the M-Pad and [71] Edge-Board balance and core strength training boards, which help strengthen the core and improve balance.[72] The M-Pad [73] balance board is collapsible and has three attachable base pads to increase the level of difficulty. The Edge-Board [74] core strength training board has curved rollers that allow user to make arcing turns and non-linear extensions.

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 "Nautilus, Inc. (NLS) Income Statement - Yahoo Finance". https://finance.yahoo.com/quote/NLS/financials?p=NLS. 
  2. ↑ "Nautilus, Inc. (NLS) Company Profile & Facts - Yahoo Finance". http://finance.yahoo.com/quote/NLS/profile?p=NLS. 
  3. ↑ New York Times
  4. ↑ 4.0 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 Coral Garnick, The Seattle Times."Nautilus Flexes its Muscle." June 11, 2014. Retrieved January 27, 2015.
  5. ↑ 5.0 5.1 Teresa Hartford, SGB Media. "Nautilus Unlocks New Equipment Categories." Sep 28, 2016. Retrieved Oct 26, 2016.
  6. ↑ "New CEO to lead Nautilus into 'next era'" (in en). 2019-07-10. http://www.columbian.com/news/2019/jul/10/new-ceo-to-lead-nautilus-into-next-era/. 
  7. ↑ Anna Marum, OregonLive. "Nautilus opens retail shop, showroom at Vancouver headquarters." Jan 13, 2016. Retrieved Nov 1, 2018.
  8. ↑ Brian R. Ball, Columbus Business Journal. "Nautilus picks Central Ohio for distribution center serving eastern U.S." Jul 29, 2014. Retrieved Nov 13, 2018.
  9. ↑ Kristina Shevory, "Nautilus hires Levi Strauss exec to pump up its profits and sales", Seattle Times, July 17, 2003.
  10. ↑ "In Sudden Move, Nautilus Group Names New CEO" , FitCommerce.com, July 17, 2003.
  11. ↑ N/A, Puget Sound Business Journal."Nautilus Q3 earnings fall."October 19, 2007.Retrieved January 29, 2015.
  12. ↑ Kristina Shevory, Seattle Times."Nautilus hires Levi Strauss exec to pump up its profits and sales."July 13,20013. Retrieved January 29, 2015.
  13. ↑ N/A, NNDVB."Robert S. Falcone."N/A. Retrieved January 29, 2015
  14. ↑ 14.0 14.1 14.2 Erik Siemers, Portland Business Journal."Nautilus names new CEO, chairman."May 26, 2011. Retrieved January 29, 2015.
  15. ↑ 15.0 15.1 15.2 Andrew Martin, The New York Times. “Arthur Jones, 80, Exercise Machine Inventor, Dies.” August 30, 2014. July 21, 2014.
  16. ↑ 16.0 16.1 16.2 16.3 Nathan Gotch, Street Articles. "The Only Bowflex Review You Need." May 20, 2013. December 18, 2013.
  17. ↑ 17.0 17.1 The Oregonian. "Supreme Court rules for Nautilus in patent case." June 11, 2014. July 22, 2014.
  18. ↑ Austen Hufford, Wall Street Journal. "Bowflex Maker Nautilus Buys Octane Fitness for $115 Million." Jan 4, 2016. Retrieved Nov 13, 2018.
  19. ↑ The Oregonian. "Top Work Places." N/A. June 16, 2014.
  20. ↑ Scott Nelsen, The Oregonian. “The more fulfilling the work, the more employees want to stay: Top Workplaces 2014.” Sept. 10, 2014. Sept. 11, 2014.
  21. ↑ The Oregonian. "A look at the Top 40 midsize companies in Oregon, SW Washington." Sep 28, 2017. Retrieved Nov 13, 2018.
  22. ↑ 22.0 22.1 Portland Business Journal.“Gallery: Healthiest Employers celebrated at awards luncheon.” October 16, 2013. June 11, 2014.
  23. ↑ Andy Giegerich, Portland Business Journal. "Introducing Oregon's Healthiest Employers for 2018." Aug 16, 2018. Retrieved Nov 13, 2018.
  24. ↑ American Heart Association. “Fit-Friendly Worksite Platinum Award Recognition.” January 31, 2013. June 16, 2014.
  25. ↑ 25.0 25.1 Rebecca Fancher, Jeff Bunch and Leah Fisher, The Columbian. "Wellness summit gives Nautilus program boost." August 26, 2013. June 17, 2014.
  26. ↑ Matthew Kish, Portland Business Journal "Inside the rise, fall and rise again of Nautilus Inc." Aug 16, 2018. Retrieved Oct 26, 2016.
  27. ↑ Fortune. "100 Fastest-Growing Companies." Retrieved Nov 15, 2018.
  28. ↑ NYSE Euronext Exchanges. “Nautilus Brings its Bowflex Max Trainer to the New York Stock Exchange.” March 18, 2014. June 11, 2014.
  29. ↑ Debra Borchardt, The Street. “Nautilus Burns Calories, Adds Sales With New Max Trainer.” March 18, 2014. June 11, 2014.
  30. ↑ Staff, Business Journals. "Rick_Muhr Rick Muhr | People on The Move." Sep 20, 2016. Retrieved Dec 21, 2018.
  31. ↑ Staff, Portland Business Journal. "Executive Profile - Bruce M. Cazenave." February 8, 2013. Retrieved November 27, 2018.
  32. ↑ Mark Barroso, Men's Fitness. "Nautilus Launches New Fitness Products." September 13, 2013. Retrieved November 27, 2018.
  33. ↑ Mark Barroso, Men's Fitness. "The At-Home Arm Workout." September 13, 2013. Retrieved November 27, 2018.
  34. ↑ The Review Crew, Review Board Magazine. "Bowflex Xtreme2 Home Gym Review." April 15, 2010. Retrieved November 27, 2018.
  35. ↑ Mark Barroso, Men's Fitness. “The At-Home Arm Workout.” November 12, 2013. June 16, 2014.
  36. ↑ Home Gym Partner. “Bowflex Xtreme 2 SE Home Gym Review: the best Power Rod Home Gym yet.” N/A. June 16, 2014.
  37. ↑ Home Gym Partner. “Bowflex Revolution Home Gym Review: resistance innovation for the future of strength training.” N/A. June 16, 2014.
  38. ↑ Staff, SGBOnline. "Nautilus Seeing Healthy Response To Bowflex Treadmills." Mar 6, 2018. Retrieved Nov 27, 2018.
  39. ↑ Michael Easter and Ebenezer Samuel, Menshealth. "35 Fitness Gifts for the Most Active Guys You Know." Oct 1, 2018. Retrieved Dec 20, 2018.
  40. ↑ Michael Beck, Details Magazine. “The Ultimate Cardio Machine: Airdyne Bike.” May 1, 2014. June 17, 2014.
  41. ↑ Staff, Vancouver Business Journal. "Nautilus products receive design award." Dec 21, 2012. Retrieved Nov 27, 2018.
  42. ↑ Staff, The Chicago Athenaeum."SPORTS-RECREATION 2016." Retrieved Dec 20, 2018.
  43. ↑ Fitness Equipment Source. “Schwinn Elliptical Trainer Review.” January 22, 2014. June 17, 2014.
  44. ↑ Fitness Equipment Source. “Schwinn 240 Recumbent Exercise Bike Review & Rating.” N/A, 2014. June 17, 2014.
  45. ↑ Staff, TopFitnessMag. "Schwinn 830 Treadmill Review." Nov 28, 2018. Retrieved Nov 28, 2018.
  46. ↑ Staff, Exercise Review Site. "Schwinn Crewmaster Rowing Machine Review." Nov 28, 2018. Retrieved Nov 28, 2018.
  47. ↑ Laura William, VeryWellFit. "Alternative Fitness Equipment Reviews to Makeover Your Home Gym." Mar 31, 2018. Retrieved Nov 28, 2018.
  48. ↑ Rachel Weingarten, Parade. "You Asked: Early Spring Workout Gear & Inspiration." Feb 22, 2018. Retrieved Nov 28, 2018.
  49. ↑ Jason Scott, Athletic Business. "The Evolution of Fitness Equipment." March 2017. Retrieved December 13, 2018.
  50. ↑ Stephen Miller, Wall Street Journal."Nautilus Inventor Pumped Up Fitness, But Lost Women, Planes, Crocodiles." September 01, 2007. Retrieved December 13, 2018.
  51. ↑ Mat Smith, Engadget. "Virtually race against friends on Nautilus' latest treadmill." September 21, 2016. Retrieved December 5, 2018.
  52. ↑ Jennifer Christensen, TopTenReviews. "Nautilus E618 Review." Jun 27, 2018. Retrieved Dec 21, 2018.
  53. ↑ Best Fitness Equipment. “Nautilus E618 Elliptical Machine.” December 7, 2018.
  54. ↑ Cool Things. “Nautilus T618 Treadmill Lets You Race With Other Runners In The Gym.” SEPTEMBER 22, 2016. Retrieved December 7, 2018
  55. ↑ Robbie Darby, Hello Beautiful. “Walking is The New Running: 9 Things You Need to Know Before Your First Step.” October 20, 2014. December 5, 2014.
  56. ↑ Bloomberg. “Company Overview of Nautilus, Inc..” December 12, 2018.
  57. ↑ Street Insider. “Nautilus (NLS) to Acquire Octane Fitness for ~$115M.” January 4, 2016. Retrieved December 12, 2018.
  58. ↑ Austen Hufford, Wall Street Journal. “Bowflex Maker Nautilus Buys Octane Fitness for $115 Million.” January 4, 2016. Retrieved December 12, 2018.
  59. ↑ Star Tribune. “Movers & Shakers: Dennis Lee and Tim Porth, Octane Fitness.” January 24, 2016. Retrieved December 12, 2018.
  60. ↑ Kyle Potter, Business Journals. "Octane Fitness elliptical machine makes 'Oprah's Favorite Things 2012' list." Nov 21, 2012. Retrieved Dec 8, 2018.
  61. ↑ Teresa Hartford, SGB Online. "NAUTILUS UNLOCKS NEW EQUIPMENT CATEGORIES." September 28, 2016. Retrieved December 19, 2018.
  62. ↑ Pamela Kufahl, Club Industry. "Octane Fitness Experiences Growth during Recession." Mar 01, 2011. Retrieved Dec 19, 2018.
  63. ↑ Peter Anzalone and Daniel DiClerico, Consumer Reports. "3 Alternative Motion Machines in Action." Sep 29, 2015. Retrieved Dec 19, 2018.
  64. ↑ Roy Wallack, LATimes. "New machines aim to be a runner's hurt blocker." July 11, 2014. Retrieved Dec 19, 2018.
  65. ↑ TreadMillReviews. "Octane Fitness “Zero Runner” Review." Dec 19, 2018. Retrieved Dec 19, 2018.
  66. ↑ Stijn Dijkstra, MensJournal. "Zero Impact Machines Will Make You (Way the Hell) Faster." Aug 29, 2012. Retrieved Dec 19, 2018.
  67. ↑ Staff, SGBMedia. "IHRSA 2017 Puts PHIT Act Center Stage." Mar 13, 2017. Retrieved Dec 19, 2018.
  68. ↑ Staff, SGB Media. "Octane’s New AirdyneX™Air Bike Now Available." Mar 13, 2018. Retrieved Dec 20, 2018.
  69. ↑ Staff, BoxPromag. "Octane’s New AirdyneX™Air Bike Now Available." Aug 2, 2017. Retrieved Dec 20, 2018.
  70. ↑ Courtney Cameron, Athletic Business. "New Product Roundup: Ninja Equipment | Indoor Surfaces | Fitness Equipment." May 2018. Retrieved Dec 20, 2018.
  71. ↑ Staff, The Columbian. "Nautilus to showcase new cardio, strength products." Sep 26, 2016. Retrieved Dec 20, 2018.
  72. ↑ Laura Williams, VeryWellFit. "Alternative Fitness Equipment Reviews to Makeover Your Home Gym." Mar 31, 2018. Retrieved Dec 20, 2018.
  73. ↑ Kaitlyn Pirie, Family Circle. "Workout Gadgets & Other Healthy Gifts Ideas for the Fit People You Love." Aug 29, 2018. Retrieved Dec 21, 2018.
  74. ↑ Staff, TWiT TV. "TWIT BITS 4585 REVIEW: M-PAD & EDGE-BOARD." Nov 28, 2017. Retrieved Dec 21, 2018.

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