CYBEX Announces Appellate Decision.MEDWAY, Mass. -- Cybex International, Inc. (AMEX AMEX See: American Stock Exchange : CYB CYB Canada Year Book (Historical Collection) CYB Cayman Brac Island, Cayman Islands (Airport Code) CYB Cover Your Butt CYB Carlsbad Youth Baseball (Carlsbad, California) ), a leading exercise equipment manufacturer, announced that the Superior Court of Pennsylvania The Superior Court of Pennsylvania is the intermediate court of appeal in the Commonwealth of Pennsylvania, between the trial court of general jurisdiction -- called the Court of Common Pleas -- and the Supreme Court of Pennsylvania. has affirmed the previously reported $2,452,783 judgment entered March 31, 2004 against the Company in the Kirila v. Cybex International, Inc. litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . The Company continues to believe that the basis for that judgment was in error, and it intends to file a Petition for Allowance of Appeal with the Supreme Court of Pennsylvania The Supreme Court of Pennsylvania is the court of last resort for the Commonwealth of Pennsylvania. It meets in Philadelphia, Pittsburgh, and Harrisburg, Pennsylvania. History . CYBEX is in the process of analyzing whether any net adjustment to its litigation reserve is required, including in connection with the Kirila judgment and related costs and expenses, including interest. The Company anticipates that, if a litigation charge is necessary, the impact on fourth quarter 2005 pre-tax operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. will not exceed $900,000. While CYBEX intends to continue its appeal in the Kirila matter, it has sufficient liquidity to satisfy the judgment if its appeal to the Supreme Court of Pennsylvania is ultimately unsuccessful. Cybex International, Inc. is a leading manufacturer of premium exercise equipment for commercial and consumer use. The CYBEX product line includes a full range of both strength training and cardio training machines sold worldwide under the CYBEX brand. Products and programs are designed and engineered to reflect the natural movement of the human body, assisting each unique user - from the professional athlete to the first-time exerciser - to improve daily human performance. For more information on CYBEX and its product line, please visit the Company's website at www.cybexinternational.com. This news release may contain forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made above. These include, but are not limited to, competitive factors, technological and product developments, market demand, economic conditions, and the ability of the Company to comply with the terms of its credit facilities. Further information on these and other factors which could affect the Company's financial results can be found in the Company's previously filed Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , its Reports on Form 10-Q, its Current Reports on Form 8-K, and its proxy statement dated April 6, 2005. |
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