Cybex Announces Second Quarter Results.MEDWAY, Mass. -- Cybex International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CYBI), a leading manufacturer of premium exercise equipment for the commercial and consumer markets, today reported results for its second quarter ended June 28, 2008. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the second quarter of 2008 were $33.1 million compared to $34.7 million for the corresponding 2007 period. The Company reported net income for the second quarter of 2008 of $.1 million, or $0.01 per diluted share, compared to $1.1 million, or $0.06 per diluted share, reported for the corresponding 2007 period. For the six months ended June 28, 2008, net sales increased to $72.9 million compared to $69.4 million for 2007. Net income for the six months ended June 28, 2008 was $1.4 million, or $0.08 per diluted share, compared to net income of $2.2 million, or $0.12 per diluted share, for 2007. John Aglialoro, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "Through timely management of production and expenses, CYBEX achieved a modest profit in a difficult sales quarter. Although the U.S. and world economic conditions continue to be a concern, the fitness industry appears to be performing relatively well and the sales order The sales order, sometimes abbreviated as SO, is an order received by a business from a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways. rate at CYBEX began to improve at the end of Q2. We remain confident that our strategy of emphasizing new products and expanding markets, combined with a continued focus on cost savings and manufacturing efficiencies, will promote both increased long-term sales and earnings growth." The Company will hold a conference call today. If you cannot participate in the call but wish to listen to it, you may login at CYBEX's website at www.cybexintl.com. Under the category Company, click on Press, scroll to bottom and select Q2 Earnings Release Conference Call. About CYBEX 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 lines, please visit the Company's website at www.cybexintl.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, the resolution of 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. involving the Company, 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. for the year ended December 31, 2007, its Reports on Form 10-Q Form 10-Q See 10-Q. , its Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , and its proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. dated April 4, 2008. [TABLE OMITTED] [TABLE OMITTED] |
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