Tuesday, April 20, 2010

Cybex Announces First Quarter Results

“Cybex International, Inc. (NASDAQ: CYBI), a leading manufacturer of premium exercise equipment, today reported results for its first quarter ended March 27, 2010. Net sales for the first quarter of 2010 decreased by 10% to $26.1 million compared to $28.9 million for the corresponding 2009 period. The Company reported a net loss for the first quarter of 2010 of $0.8 million, or $0.04 per diluted share, compared to a net loss for the first quarter of 2009 of $1.4 million or $0.08 per diluted share. John Aglialoro, CYBEX Chairman and CEO stated, ‘We have worked hard to increase gross profit margins and were pleased with the margin results achieved in Q1. Although purchases by the fitness club market continue to be slow, our sales and marketing efforts directed to new markets should generate incremental revenue in future quarters.’ Arthur Hicks, CYBEX President and COO stated, ‘CYBEX has continued to invest in R&D during these challenging economic times. That is our future and we are excited with our new product pipeline. As an example, a strength line for professional and college varsity sports teams will be introduced during the second half of 2010, which we will package with our other products to meet the needs of those customers.’ The Company will hold a conference call today at 11:30 a.m. ET. 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 Q1 Earnings Release Conference Call.”


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