Bowflex (BFXXQ) 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	NAUTILUS, INC.
Entity Central Index Key	1,078,207
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,032,496

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 44,027	$ 30,778
Available-for-sale securities	28,788	29,998
Trade receivables, net of allowances of $1,015 and $918	24,386	45,155
Inventories	36,817	42,729
Prepaids and other current assets	7,917	6,888
Income taxes receivable	3,845	439
Deferred income tax assets	0	8,904
Total current assets	145,780	164,891
Property, plant and equipment, net	16,796	16,764
Goodwill	60,323	60,470
Other intangible assets, net	72,394	73,354
Long-term deferred income tax assets	99	0
Other assets	386	433
Total assets	295,778	315,912
Liabilities and Shareholders' Equity
Trade payables	38,456	61,745
Accrued liabilities	10,582	13,027
Warranty obligations	4,397	4,753
Note payable, current portion, net of unamortized debt issuance costs of $7 and $7	15,993	15,993
Total current liabilities	69,428	95,518
Warranty obligations, non-current	4,315	3,792
Income taxes payable, non-current	5,053	4,116
Deferred income tax liabilities, non-current	13,251	18,380
Other long-term liabilities	3,569	3,144
Note payable, non-current, net of unamortized debt issuance costs of $26 and $29	59,974	63,971
Total liabilities	$ 155,590	$ 188,921
Commitments and contingencies (Note 15)
Shareholders' equity:
Common stock - no par value, 75,000 shares authorized, 31,032 and 31,005 shares issued and outstanding	$ 2,661	$ 796
Retained earnings	138,966	127,522
Accumulated other comprehensive loss	(1,439)	(1,327)
Total shareholders' equity	140,188	126,991
Total liabilities and shareholders' equity	$ 295,778	$ 315,912

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful trade receivables	$ 1,015	$ 918
Unamortized debt issuance costs, current	7	7
Unamortized debt issuance costs, long-term	$ 26	$ 29
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	31,032,000	31,005,000
Common stock, shares outstanding	31,032,000	31,005,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016		Mar. 31, 2015
Income Statement [Abstract]
Net sales	$ 120,928		$ 96,239
Cost of sales	54,584		42,350
Gross profit	66,344		53,889
Operating expenses:
Selling and marketing	35,179		28,399
General and administrative	8,231		5,578
Research and development	3,634		2,307
Total operating expenses	47,044		36,284
Operating income	19,300		17,605
Other income (expense):
Interest income	54		44
Interest expense	(466)		(5)
Other, net	(124)		(116)
Total other expense, net	(536)		(77)
Income from continuing operations before income taxes	18,764		17,528
Income tax expense	7,178		6,669
Income from continuing operations	11,586		10,859
Discontinued operations:
Loss from discontinued operations before income taxes	(124)		(153)
Income tax expense (benefit) from discontinued operations	18		(26)
Loss from discontinued operations	(142)		(127)
Net income	$ 11,444		$ 10,732
Earnings Per Share, Basic [Abstract]
Basic income per share from continuing operations (in dollars per share)	$ 0.37		$ 0.35
Basic loss per share from discontinued operation (in dollars per share)	0		0
Basic net income per share (in dollars per share)	0.37		0.34	[1]
Earnings Per Share, Diluted [Abstract]
Diluted income per share from continuing operations (in dollars per share)	0.37		0.34
Diluted loss per share from discontinued operation (in dollars per share)	0		0
Diluted net income per share (in dollars per share)	$ 0.37	[1]	$ 0.34
Shares used in per share calculations:
Basic (in shares)	31,016		31,396
Diluted (in shares)	31,295		31,767
[1]	May not add due to rounding.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 11,444	$ 10,732
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities, net of income tax expense of $12 and $0	18	(1)
Loss on derivative securities, effective portion, net of income tax benefit of $413 and $0	(682)	0
Foreign currency translation, net of income tax (benefit) expense of $(7) and $5	552	(484)
Net other comprehensive income (loss) during period	(112)	(485)
Comprehensive income	$ 11,332	$ 10,247

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on marketable securities, tax expense	$ 12	$ 0
Gain (loss) on derivatives, tax expense	413	0
Foreign currency translation, tax expense	$ (7)	$ 5

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Income from continuing operations	$ 11,586	$ 10,859
Loss from discontinued operations	(142)	(127)
Net income	11,444	10,732
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	1,935	910
Provision for (benefit from) allowance for doubtful accounts	97	(108)
Inventory lower-of-cost-or-market adjustments	0	18
Stock-based compensation expense	701	301
(Gain) loss on asset dispositions	10	(2)
Deferred income taxes, net of valuation allowance	5,342	6,102
Excess tax (benefit) deficiency related to stock-based awards	(1,514)	2
Changes in operating assets and liabilities:
Trade receivables	20,540	9,719
Inventories	7,366	4,930
Prepaids and other current assets	(1,028)	1,763
Income taxes receivable	(3,406)	27
Trade payables	(20,949)	(20,612)
Accrued liabilities, including warranty obligations	(1,854)	(298)
Net cash provided by operating activities	18,684	13,484
Cash flows from investing activities:
Purchases of available-for-sale securities	(9,112)	(30,440)
Proceeds from maturities of available-for-sale securities	10,323	3,680
Proceeds from sales of available-for-sale securities	0	2,354
Payments to Acquire Businesses, Gross	(3,469)	0
Purchases of property, plant and equipment	(787)	(590)
Net cash used in investing activities	(3,045)	(24,996)
Cash flows from financing activities:
Payments on long-term debt	(4,000)	0
Payments for stock repurchases	0	(1,996)
Proceeds from exercise of stock options	35	407
Tax payments related to stock award issuances	(221)	(652)
Excess tax benefit (deficiency) related to stock-based awards	1,514	(2)
Net cash used in financing activities	(2,672)	(2,243)
Effect of exchange rate changes on cash and cash equivalents	282	(758)
Increase (decrease) in cash and cash equivalents	13,249	(14,513)
Cash and cash equivalents:
Beginning of period	30,778	45,206
End of period	44,027	30,693
Supplemental disclosure of cash flow information:
Cash paid for interest	(466)	(6)
Cash paid for income taxes, net	(4,705)	(332)
Supplemental disclosure of non-cash investing activities:
Capital expenditures incurred but not yet paid	$ 281	$ 64

General Information

General Information	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General Information	GENERAL INFORMATION Basis of Consolidation and Presentation The accompanying condensed consolidated financial statements present the financial position, results of operations and cash flows of Nautilus, Inc. and its subsidiaries, all of which are wholly owned. Intercompany transactions and balances have been eliminated in consolidation. The accompanying condensed consolidated financial statements have not been audited. We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Management believes the disclosures contained herein are adequate to make the information presented not misleading. However, these condensed consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 (the “ 2015 Form 10-K”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Further information regarding significant estimates can be found in our 2015 Form 10-K. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of March 31, 2016 and December 31, 2015 , and our results of operations, comprehensive income and cash flows for the three months ended March 31, 2016 and 2015 . Interim results are not necessarily indicative of results for a full year. Our revenues typically vary seasonally and this seasonality can have a significant effect on operating results, inventory levels and working capital needs. Unless indicated otherwise, all information regarding our operating results pertain to our continuing operations. New Accounting Pronouncements ASU 2016-10 In April 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-10, "Revenue from Contracts with Customers (Topic 606) - Identifying Performance Obligations and Licensing." ASU 2016-10 clarifies aspects of Topic 606 related to identifying performance obligations and the licensing implementation guidance, while retaining the related core principles for those areas. The effective date and transition requirements for ASU 2016-10 are the same as the effective date and transition requirements in Topic 606 (ASU 2014-09). While we do not expect the adoption of ASU 2016-10 to have a material effect on our business, we are still evaluating any potential impact that adoption of ASU 2016-10 may have on our financial position, results of operations or cash flows. ASU 2016-09 In March 2016, the FASB issued ASU 2016-09, "Compensation - Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting." ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for public companies' annual periods, including interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted subject to certain requirements, and the method of application (i.e., retrospective, modified retrospective or prospective) depends on the transaction area that is being amended. We do not expect the adoption of ASU 2016-09 to have a material effect on our financial position, results of operations or cash flows. ASU 2016-02 In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." ASU 2016-02 replaces the existing guidance in Accounting Standards Codification ("ASC") 840, Leases. The new standards would require companies and other organizations to include lease obligations on their balance sheets, including a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use ("ROU") asset and a corresponding lease liability. For finance leases the lessee would recognize interest expense and amortization of the ROU asset, and for operating leases the lessee would recognize a straight-line total lease expense. ASU 2016-02 is effective for public companies' annual periods, and interim periods within those fiscal years, beginning after December 15, 2018. We are currently evaluating any potential impact that adoption of ASU 2016-02 may have on our financial position, results of operations or cash flows. ASU 2015-17 In November 2015, the FASB issued ASU 2015-17, "Income Taxes (Topic 740) - Balance Sheet Classification of Deferred Taxes." ASU 2015-17 simplifies the presentation of deferred income taxes, and requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments apply to all entities that present a classified statement of financial position, and aligns the presentation of deferred income tax assets and liabilities with International Financial Reporting Standards ("IFRS") IAS 1. ASU 2015-17 is effective for public companies' financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early application is permitted and may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Our early adoption of ASU 2015-17 in January 2016 did not have a material effect on our financial position, results of operations or cash flows. We are applying ASU 2015-17 on a prospective basis to all deferred tax liabilities and assets, and prior periods have not been retrospectively adjusted. ASU 2015-16 In September 2015, the FASB issued ASU 2015-16, "Business Combinations (Topic 805) - Simplifying the Accounting for Measurement-Period Adjustments." ASU 2015-16 simplifies the presentation of provisional amounts reported for items in a business combination for which the accounting is incomplete by the end of the reporting period in which the combination occurs and during the measurement period have an adjustment to provisional amounts recognized. The amendments in ASU 2015-16 require an entity to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, and to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for public companies' financial statements issued for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2015 on a prospective basis. Our adoption of ASU 2015-16 as of January 2016 did not have a material effect on our financial position, results of operations or cash flows. ASU 2015-11 In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory (Topic 330).” ASU 2015-11 simplifies the accounting for the valuation of all inventory not accounted for using the last-in, first-out (“LIFO”) method by prescribing inventory be valued at the lower of cost and net realizable value. ASU 2015-11 is effective for public companies' annual periods, including interim periods within those fiscal years, beginning after December 15, 2016 on a prospective basis. Early adoption is permitted. We do not expect the adoption of ASU 2015-11 to have a material effect on our financial position, results of operations or cash flows. ASU 2015-05 In April 2015, the FASB issued ASU 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40).” ASU 2015-05 provides guidance regarding the accounting for a customer's fees paid in a cloud computing arrangement, specifically about whether a cloud computing arrangement includes a software license, and if so, how to account for the software license. ASU 2015-05 was effective for public companies' annual periods, including interim periods, beginning after December 15, 2015. Our adoption of ASU 2015-05 in January 2016 did not have a material effect on our financial position, results of operations or cash flows. ASU 2015-03 In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30).” ASU 2015-03 simplifies the presentation of debt issuance costs. ASU 2015-03 is effective, as amended, for public company financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption was permitted for financial statements that have not been previously issued. Our adoption of ASU 2015-03 as of December 31, 2015 did not have a material effect on our financial position, results of operations or cash flows. ASU 2014-12 In June 2014, the FASB issued ASU No. 2014-12, "Compensation - Stock Compensation (Topic 718)." ASU No. 2014-12 addresses accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. ASU 2014-12 indicates that, in such situations, the performance target should be treated as a performance condition and, accordingly, the performance target should not be reflected in estimating the grant-date fair value of the award. Instead, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. ASU 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Our adoption of ASU 2014-12 in January 2016 did not have a material effect on our financial position, results of operations or cash flows. ASU 2014-09 In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." ASU 2014-09 clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP and the International Accounting Standards Board that: • removes inconsistencies and weaknesses in revenue requirements; • provides a more robust framework for addressing revenue issues; • improves comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; • provides more useful information to users of financial statements through improved disclosure requirements; and • simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. ASU 2014-09 is effective, as amended, for annual and interim periods beginning on or after December 15, 2017. While we do not expect the adoption of ASU 2014-09 to have a material effect on our business, we are still evaluating any potential impact that adoption of ASU 2014-09 may have on our financial position, results of operations or cash flows.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS There was no revenue related to discontinued operations for the three months ended March 31, 2016 or the year ended December 31, 2015 . However, we continue to have legal and accounting expenses as we work with authorities on final deregistration of certain foreign entities and product liability expenses associated with product previously sold into the Commercial channel. The following table summarizes liabilities for exit costs related to discontinued operations, included in accrued liabilities and other long-term liabilities in our Condensed Consolidated Balance Sheets (in thousands): Facilities Leases Balance, December 31, 2015 $ 300 Payments (75 ) Balance, March 31, 2016 $ 225 We expect the lease obligations to be paid out through 2016 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Factors used in determining the fair value of financial assets and liabilities are summarized into three broad categories: • Level 1 - observable inputs such as quoted prices (unadjusted) in active liquid markets for identical securities as of the reporting date; • Level 2 - other significant directly or indirectly observable inputs, including quoted prices for similar securities, interest rates, prepayment speeds and credit risk; or observable market prices in markets with insufficient volume and/or infrequent transactions; and • Level 3 - significant inputs that are generally unobservable inputs for which there is little or no market data available, including our own assumptions in determining fair value. Assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 were as follows (in thousands): March 31, 2016 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 9,007 $ — $ — $ 9,007 Commercial paper — 5,997 — 5,997 Corporate bonds — 4,095 — 4,095 Total cash equivalents 9,007 10,092 — 19,099 Available-for-Sale Securities Certificates of deposit (1) — 27,064 — 27,064 Corporate bonds — 1,724 — 1,724 Total available-for-sale securities — 28,788 — 28,788 Total assets measured at fair value $ 9,007 $ 38,880 $ — $ 47,887 Derivatives Interest rate swap contract $ — $ (1,095 ) $ — $ (1,095 ) Total liabilities measured at fair value $ — $ (1,095 ) $ — $ (1,095 ) December 31, 2015 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 1 $ — $ — $ 1 Corporate bonds — 733 — 733 Total cash equivalents 1 733 — 734 Available-for-Sale Securities Certificates of deposit (1) — 25,234 — 25,234 Corporate bonds — 4,764 — 4,764 Total available-for-sale securities — 29,998 — 29,998 Total assets measured at fair value $ 1 $ 30,731 $ — $ 30,732 (1) All certificates of deposit are within current FDIC insurance limits. We did not have any liabilities measured at fair value on a recurring basis as of December 31, 2015 . For our assets measured at fair value on a recurring basis, we recognize transfers between levels at the actual date of the event or change in circumstance that caused the transfer. There were no transfers between levels during the three months ended March 31, 2016 , nor for the year ended December 31, 2015 . We did not have any changes to our valuation techniques during the three months ended March 31, 2016 , nor for the year ended December 31, 2015 . We classify our marketable securities as available-for-sale and, accordingly, record them at fair value. Level 1 investment valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 investment valuations are obtained from inputs, other than quoted market prices in active markets, that are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions. The factors or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Unrealized holding gains and losses are excluded from earnings and are reported net of tax in comprehensive income until realized. The fair value of our interest rate swap contract is calculated as the present value of estimated future cash flows using discount factors derived from relevant Level 2 market inputs, including forward curves and volatility levels. We recognize or disclose the fair value of certain assets, such as non-financial assets, primarily property, plant and equipment, goodwill, other intangible assets and certain other long-lived assets in connection with impairment evaluations. All of our nonrecurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy. We did not perform any valuations on assets or liabilities that are valued at fair value on a nonrecurring basis during the first three months of 2016 . During the fourth quarter of 2015 , we performed our annual goodwill and indefinite-lived trade names impairment analyses effective as of October 1, 2015 . During the three months ended March 31, 2016 and the year ended December 31, 2015 , we did not record any other-than-temporary impairments on our financial assets required to be measured at fair value on a nonrecurring basis.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are stated at the lower of cost or market, with cost determined based on the first-in, first-out method. Our inventories consisted of the following (in thousands): As of March 31, 2016 December 31, 2015 Finished goods $ 33,265 $ 39,115 Parts and components 3,552 3,614 Total inventories $ 36,817 $ 42,729

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following (in thousands): Estimated Useful Life (in years) As of March 31, 2016 December 31, 2015 Automobiles 5 to 6 $ 139 $ 139 Leasehold improvements 5 to 20 3,432 3,397 Computer software and equipment 3 to 7 23,444 23,991 Machinery and equipment 3 to 5 11,433 10,867 Furniture and fixtures 5 1,601 1,605 Work in progress (1) N/A 2,060 1,655 Total cost 42,109 41,654 Accumulated depreciation (25,313 ) (24,890 ) Total property, plant and equipment, net $ 16,796 $ 16,764 (1) Work in progress includes production tooling and internal use software development.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The rollforward of goodwill was as follows (in thousands): Direct Retail Total Balance, January 1, 2015 $ 2,520 $ — $ 2,520 Currency exchange rate adjustment (407 ) — (407 ) Business acquisition (Note 2) — 58,357 58,357 Balance, December 31, 2015 2,113 58,357 60,470 Currency exchange rate adjustment 147 (12 ) 135 Business acquisition (Note 2) - measurement period adjustments — (282 ) (282 ) Balance, March 31, 2016 $ 2,260 $ 58,063 $ 60,323 Other Intangible Assets Other intangible assets consisted of the following (in thousands): Estimated Useful Life (in years) As of March 31, 2016 December 31, 2015 Indefinite-lived trademarks N/A $ 32,052 $ 32,052 Definite-lived trademarks 10 to 15 2,600 2,600 Patents 8 to 24 31,487 31,487 Customer relationships 10 to 15 24,700 24,700 90,839 90,839 Accumulated amortization - definite-lived intangible assets (18,445 ) (17,485 ) Other intangible assets, net $ 72,394 $ 73,354 Amortization expense was as follows (in thousands): Three Months Ended March 31, 2016 2015 Amortization expense $ 960 $ 290 Future amortization of definite-lived intangible assets is as follows (in thousands): Remainder of 2016 $ 2,592 2017 3,255 2018 3,162 2019 3,132 2020 3,106 Thereafter 25,095 $ 40,342

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of the following (in thousands): As of March 31, 2016 December 31, 2015 Payroll and related liabilities $ 3,916 $ 6,556 Other 6,666 6,471 Total accrued liabilities $ 10,582 $ 13,027

Product Warranties

Product Warranties	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
Product Warranties	PRODUCT WARRANTIES Our products carry defined warranties for defects in materials or workmanship which, according to their terms, generally obligate us to pay the costs of supplying and shipping replacement parts to customers and, in certain instances, pay for labor and other costs to service products. Outstanding product warranty periods range from thirty days to, in limited circumstances, the lifetime of certain product components. We record a liability at the time of sale for the estimated costs of fulfilling future warranty claims. If necessary, we adjust the liability for specific warranty-related matters when they become known and are reasonably estimable. Estimated warranty expense is included in cost of sales, based on historical warranty claim experience and available product quality data. Warranty expense is affected by the performance of new products, significant manufacturing or design defects not discovered until after the product is delivered to the customer, product failure rates, and higher or lower than expected repair costs. If warranty expense differs from previous estimates, or if circumstances change such that the assumptions inherent in previous estimates are no longer valid, the amount of product warranty obligations is adjusted accordingly. Changes in our product warranty obligations were as follows (in thousands): Three Months Ended March 31, 2016 2015 Balance, beginning of period $ 8,545 $ 2,246 Accruals 1,530 815 Payments (1,363 ) (564 ) Balance, end of period $ 8,712 $ 2,497

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss), net of applicable taxes, reported on our Condensed Consolidated Balance Sheets consists of unrealized holding gains and losses on available-for-sale securities, effective portions of gains and losses of derivative securities designated as cash flow hedges, and foreign currency translation adjustments. The following tables set forth the changes in accumulated other comprehensive income (loss), net of tax (in thousands): Unrealized Gain (Loss) on Available-for-Sale Securities Loss on Derivative Securities (Effective Portion) Foreign Currency Translation Adjustments Accumulated Other Comprehensive Loss Balance, December 31, 2015 $ (16 ) $ — $ (1,311 ) $ (1,327 ) Current period other comprehensive income (loss) before reclassifications 18 (810 ) 552 (240 ) Reclassification of amounts to earnings — 128 — 128 Net other comprehensive income (loss) during period 18 (682 ) 552 (112 ) Balance, March 31, 2016 $ 2 $ (682 ) $ (759 ) $ (1,439 ) Unrealized Loss on Available-for-Sale Securities Foreign Currency Translation Adjustments Accumulated Other Comprehensive Loss Balance, December 31, 2014 $ (18 ) $ (290 ) $ (308 ) Current period other comprehensive loss (1 ) (484 ) (485 ) Balance, March 31, 2015 $ (19 ) $ (774 ) $ (793 )

Income Per Share

Income Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Income Per Share	INCOME PER SHARE Basic per share amounts were computed using the weighted average number of common shares outstanding. Diluted per share amounts were calculated using the number of basic weighted average shares outstanding increased by dilutive potential common shares related to stock-based awards, as determined by the treasury stock method. The weighted average numbers of shares outstanding used to compute income per share were as follows (in thousands): Three Months Ended March 31, 2016 2015 Shares used to calculate basic income per share 31,016 31,396 Dilutive effect of outstanding stock options, performance stock units and restricted stock units 279 371 Shares used to calculate diluted income per share 31,295 31,767 The weighted average numbers of shares outstanding listed in the table below were anti-dilutive and excluded from the computation of diluted income per share because, in the case of stock options, the average market price did not exceed the exercise price, and for the performance stock units, because these shares are subject to performance conditions that had not been met. These shares may be dilutive potential common shares in the future (in thousands): Three Months Ended March 31, 2016 2015 Stock options 11 25 Performance stock units — 163

Stock Repurchase Program

Stock Repurchase Program	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stock Repurchase Program	STOCK REPURCHASE PROGRAM On November 3, 2014 , our Board of Directors approved a stock repurchase program that authorized us to repurchase up to $15.0 million of our outstanding common stock from time to time over a period of 24 months. The repurchase program expires November 3, 2016 . Share repurchases are funded with existing cash balances, and the repurchased shares are retired and returned to unissued authorized shares. There were no repurchases during the three months ended March 31, 2016 . Repurchases pursuant to the program were as follows: Quarter Ended Number of Shares Repurchased Amount Average Price Per Share March 31, 2015 133,877 $ 1,995,982 $14.91 September 30, 2015 577,831 9,571,545 16.56 Totals to Date 711,708 $ 11,567,527 $16.25 As of March 31, 2016 , $3.4 million remains available for future repurchases.

Segment and Enterprise-wide Inf

Segment and Enterprise-wide Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment and Enterprise-wide Information	SEGMENT AND ENTERPRISE-WIDE INFORMATION We operate in three segments - Direct, Retail, and Commercial and Specialty. Based on the aggregation criteria of ASC 280-10, we determined that two of the operating segments (Retail and Commercial and Specialty) can be aggregated due to these segments having similar economic and other characteristics. As a result, we have two reportable segments - Direct and Retail. This financial reporting structure was effective as of December 31, 2015 , the acquisition date of Octane. We evaluate performance using several factors, of which the primary financial measures are net sales and reportable segment contribution. Contribution is the measure of profit or loss, defined as net sales less product costs and directly attributable expenses. Directly attributable expenses include selling and marketing expenses, general and administrative expenses, and research and development expenses that are directly related to segment operations. Segment assets are those directly assigned to an operating segment's operations, primarily accounts receivable, inventories, goodwill and other intangible assets. Unallocated assets primarily include cash and cash equivalents, available-for-sale securities, shared information technology infrastructure, distribution centers, corporate headquarters, prepaids and other current assets, deferred income tax assets and other assets. Capital expenditures directly attributable to the Direct and Retail segments were not significant in any period. Following is summary information by reportable segment (in thousands): Three Months Ended March 31, 2016 2015 Net sales: Direct $ 81,234 $ 74,057 Retail 38,805 21,290 Royalty 889 892 Consolidated net sales $ 120,928 $ 96,239 Contribution: Direct $ 21,144 $ 19,571 Retail 3,944 1,500 Royalty 870 892 Consolidated contribution $ 25,958 $ 21,963 Reconciliation of consolidated contribution to income from continuing operations: Consolidated contribution $ 25,958 $ 21,963 Amounts not directly related to segments: Operating expenses (6,658 ) (4,358 ) Other expense, net (536 ) (77 ) Income tax expense (7,178 ) (6,669 ) Income from continuing operations $ 11,586 $ 10,859 There was no material change in the allocation of assets by segment during the first three months of 2016 and, accordingly, assets by segment are not presented. For the three months ended March 31, 2016 and 2015 , no customer represented 10.0% or more of total net sales.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees, Commitments and Off-Balance Sheet Arrangements As of March 31, 2016 , we had approximately $0.5 million in standby letters of credit with certain vendors expiring April 2017 . We have long lead times for inventory purchases and, therefore, must secure factory capacity from our vendors in advance. As of March 31, 2016 , we had approximately $36.9 million in noncancelable market-based purchase obligations, primarily for inventory purchases expected to be received within the next twelve months. Purchase obligations can vary from quarter-to-quarter and versus the same period in prior years due to a number of factors, including the amount of products that are shipped directly to Retail customer warehouses versus through Nautilus warehouses. In the ordinary course of business, we enter into agreements that require us to indemnify counterparties against third-party claims. These may include: agreements with vendors and suppliers, under which we may indemnify them against claims arising from use of their products or services; agreements with customers, under which we may indemnify them against claims arising from their use or sale of our products; real estate and equipment leases, under which we may indemnify lessors against third-party claims relating to the use of their property; agreements with licensees or licensors, under which we may indemnify the licensee or licensor against claims arising from their use of our intellectual property or our use of their intellectual property; and agreements with parties to debt arrangements, under which we may indemnify them against claims relating to their participation in the transactions. The nature and terms of these indemnification obligations vary from contract to contract, and generally a maximum obligation is not stated within the agreements. We hold insurance policies that mitigate potential losses arising from certain types of indemnification obligations. Management does not deem these obligations to be significant to our financial position, results of operations or cash flows and, therefore, no related liabilities were recorded as of March 31, 2016 . Legal Matters In 2004, we were sued in the Southern District of New York by BioSig Instruments, Inc. for alleged patent infringement in connection with our incorporation of heart rate monitors into certain cardio products. No significant activity in the litigation occurred until 2008. In 2012, the United States District Court granted summary judgment to us on grounds that BioSig’s patents were invalid as a matter of law. BioSig appealed the grant of summary judgment and, in April 2013, the United States Court of Appeals for the Federal Circuit reversed the District Court’s decision on summary judgment and remanded the case to the District Court for further proceedings. On January 10, 2014, the U. S. Supreme Court granted our petition for a writ of certiorari to address the legal standard applied by the Federal Circuit in determining whether the patents may be valid under applicable law. The case was argued before the Supreme Court on April 28, 2014. By decision dated June 2, 2014, the Supreme Court unanimously reversed the Federal Circuit, holding that its standard of when a patent may be “indefinite” was incorrect and remanding to the Federal Circuit for reconsideration under the correct standard. The remand hearing in the Federal Circuit was held on October 29, 2014. By decision dated April 27, 2015, the same panel of the Federal Circuit affirmed its earlier reversal of the District Court’s decision on summary judgment. On May 27, 2015, we filed a petition for a rehearing en banc in the Federal Circuit, which was denied on August 4, 2015 and a Petition for Review by the U. S. Supreme Court which was also denied. The case will be returned to the District Court for further proceedings. We do not believe that our use of heart rate monitors utilized or purchased from third parties, and otherwise, infringes the BioSig patents. In addition to the matter described above, from time to time, we may be involved in various claims, lawsuits and other proceedings. These legal and tax proceedings involve uncertainty as to the eventual outcomes and losses which may be realized when one or more future events occur or fail to occur. Litigation and jury verdicts are, to some degree, inherently unpredictable, and although we have determined that a loss is not probable in connection with any current legal proceeding, it is reasonably possible that a loss may be incurred in connection with proceedings to which we are a party. Assessment of whether incurrence of a loss is probable, or a reasonable possibility, in connection with a particular proceeding, and estimation of the loss, or a range of loss, involves complex judgments and numerous uncertainties. Management is unable to estimate a range of reasonably possible losses related to litigation in which the damages sought are indeterminate, or the legal and factual basis for the relevant claims have not been developed with specificity. As such, zero liability is recorded as of March 31, 2016 . We regularly monitor our estimated exposure to these contingencies and, as additional information becomes known, may change our estimates accordingly. We evaluate, on a quarterly basis, developments in legal proceedings, investigations or claims that could affect the amount of any accrual, as well as any developments that would make a loss probable or reasonably possible, and whether the amount of a probable or reasonably possible loss is estimable. Among other factors, we evaluate the advice of internal and external counsel, the outcomes from similar litigation, current status of the lawsuits (including settlement initiatives), legislative developments and other factors. Due to the numerous variables associated with these judgments and assumptions, both the precision and reliability of the resulting estimates of the related loss contingencies are subject to substantial uncertainties.

Business Acquisition

Business Acquisition	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Business Acquisition	BUSINESS ACQUISITION On December 31, 2015, we acquired all of the outstanding capital stock of OF Holdings, Inc., sole parent of Octane Fitness, LLC ("Octane") for an aggregate base purchase price of $115.0 million , plus net adjustments for working capital and cash acquired on the closing date. We funded the acquisition through an $80.0 million term loan and cash on hand. For the three months ended March 31, 2016 , Octane contributed net sales of $12.5 million and net loss of $0.8 million . The current period loss included amortization of acquired assets of $0.8 million and purchase accounting related inventory step-up expense of $0.7 million . Working capital and other measurement period adjustments as of March 31, 2016 totaled $0.7 million and are detailed in the preliminary valuation table shown below. Total acquisition costs incurred for the three months ended March 31, 2016 were $0.2 million , and cumulative to date costs total $0.8 million . These charges were expensed as incurred in general and administrative costs. Purchase Price Allocation Acquired assets and liabilities were recorded at estimated fair value as of the acquisition date. The excess of the purchase price over the estimated fair value of identifiable net assets resulted in the recognition of goodwill of $58.1 million , all of which was assigned to the Retail segment, and is attributed primarily to Octane's intellectual property base, benefits of access to different markets and customers, and employee workforce. The goodwill is not expected to be deductible for income tax purposes. The following table summarizes the preliminary fair values of the net assets acquired and liabilities assumed and measurement period adjustments since December 31, 2015, the acquisition date (in thousands): Preliminary valuation at December 31, 2015 Measurement period adjustments Adjusted preliminary valuation at March 31, 2016 Cash $ 7,759 $ — $ 7,759 Accounts receivable 12,507 — 12,507 Inventories 12,168 1,515 13,683 Prepaid expenses 1,028 — 1,028 Deferred tax assets 1,287 (571 ) 716 Property, plant and equipment 3,240 — 3,240 Intangible assets 63,100 — 63,100 Total assets acquired 101,089 944 102,033 Accounts payable 6,215 — 6,215 Accrued liabilities 1,614 — 1,614 Warranty obligations 5,550 — 5,550 Deferred tax liabilities, non-current 20,914 — 20,914 Other non-current liabilities 519 — 519 Total liabilities assumed 34,812 — 34,812 Net identifiable assets acquired 66,277 944 67,221 Goodwill 58,357 (282 ) 58,075 Net assets acquired $ 124,634 $ 662 $ 125,296 The allocation of the purchase price is preliminary and is based upon valuation information available and estimates and assumptions made as of March 31, 2016 . We are still in the process of verifying data and finalizing information including valuation and recording of the assets acquired and liabilities assumed, and the resulting amount of recognized goodwill. The following table sets forth the components of identifiable intangible assets and their estimated fair values and useful lives as of December 31, 2015, the acquisition date (dollars in thousands): Estimated fair value Estimated useful life (years) Weighted-average amortization period (years) Trade name - Octane Fitness $ 23,000 Indefinite N/A Trade name - others 2,600 10 - 15 12.5 Patents 12,800 11 - 24 18 Customer relationships 24,700 10 - 15 13 $ 63,100 Summary of Unaudited Pro Forma Information The following table reflects the unaudited pro forma consolidated results of operations for the periods presented, as though the acquisition of Octane had occurred on January 1, 2014 (in thousands, except per share amounts): Three Months Ended March 31, 2016 2015 Net sales $ 120,928 $ 111,130 Net income 11,514 10,821 Net income per share: Basic $ 0.37 $ 0.34 Diluted 0.37 0.34 The unaudited pro forma financial information is presented for illustrative purposes only and is not indicative of the results of operations that would have been realized if the acquisition had been completed on the date indicated, nor is it indicative of future operating results.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES From time to time, we enter into interest rate swaps to fix a portion of our interest expense. We do not enter into derivative instruments for any purpose other than to manage interest rate exposure to fluctuations in the one-month LIBOR benchmark. That is, we do not engage in interest rate speculation using derivative instruments. As of March 31, 2016 , we had a $76.0 million interest rate swap outstanding with JPMorgan Chase Bank, N.A. This interest rate swap matures on December 31, 2020 and has a fixed rate of 1.42% per annum. The variable rate on the interest rate swap is the one-month LIBOR benchmark. At March 31, 2016 , the one-month LIBOR rate was 0.44% . We typically designate all interest rate swaps as cash flow hedges and, accordingly, record the change in fair value for the effective portion of these interest rate swaps in accumulated other comprehensive income rather than current period earnings until the underlying hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. For the three months ended March 31, 2016 , there was no ineffectiveness. As of March 31, 2016 , we expect to reclassify $0.2 million from accumulated other comprehensive loss to earnings within the next twelve months. The fair value of our derivative instruments was included in our Condensed Consolidated Balance Sheets as follows (in thousands): Balance Sheet Classification As of March 31, 2016 December 31, 2015 Derivatives instruments designated as cash flow hedges: Interest rate swap contract Accrued liabilities $ 230 $ — Other long-term liabilities 865 — $ 1,095 $ — The effect of derivative instruments on our Condensed Consolidated Statements of Operations was as follows (in thousands): Statement of Operations Classification Three Months Ended March 31, 2016 2015 Derivatives instruments designated as cash flow hedges: Loss recognized in other comprehensive income before reclassifications --- $ (810 ) $ — Loss reclassified from accumulated other comprehensive income to earnings for the effective portion Interest expense $ (128 ) $ —

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On May 4, 2016 , our Board of Directors authorized a $10.0 million expansion of our share repurchase program. Under the expanded program, shares of our common stock may be repurchased from time to time over the next 24 months in open market transactions at prevailing prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. Share repurchases will be funded from existing cash balances, and repurchased shares will be retired and returned to unissued authorized shares. To date, we have not repurchased any shares pursuant to the program. The repurchase program expires May 4, 2018 .

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of liabilities for exit costs related to discontinued operations	The following table summarizes liabilities for exit costs related to discontinued operations, included in accrued liabilities and other long-term liabilities in our Condensed Consolidated Balance Sheets (in thousands): Facilities Leases Balance, December 31, 2015 $ 300 Payments (75 ) Balance, March 31, 2016 $ 225

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Assets measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 were as follows (in thousands): March 31, 2016 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 9,007 $ — $ — $ 9,007 Commercial paper — 5,997 — 5,997 Corporate bonds — 4,095 — 4,095 Total cash equivalents 9,007 10,092 — 19,099 Available-for-Sale Securities Certificates of deposit (1) — 27,064 — 27,064 Corporate bonds — 1,724 — 1,724 Total available-for-sale securities — 28,788 — 28,788 Total assets measured at fair value $ 9,007 $ 38,880 $ — $ 47,887 Derivatives Interest rate swap contract $ — $ (1,095 ) $ — $ (1,095 ) Total liabilities measured at fair value $ — $ (1,095 ) $ — $ (1,095 ) December 31, 2015 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 1 $ — $ — $ 1 Corporate bonds — 733 — 733 Total cash equivalents 1 733 — 734 Available-for-Sale Securities Certificates of deposit (1) — 25,234 — 25,234 Corporate bonds — 4,764 — 4,764 Total available-for-sale securities — 29,998 — 29,998 Total assets measured at fair value $ 1 $ 30,731 $ — $ 30,732 (1) All certificates of deposit are within current FDIC insurance limits.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventories, Net of Valuation Allowances	Our inventories consisted of the following (in thousands): As of March 31, 2016 December 31, 2015 Finished goods $ 33,265 $ 39,115 Parts and components 3,552 3,614 Total inventories $ 36,817 $ 42,729

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consisted of the following (in thousands): Estimated Useful Life (in years) As of March 31, 2016 December 31, 2015 Automobiles 5 to 6 $ 139 $ 139 Leasehold improvements 5 to 20 3,432 3,397 Computer software and equipment 3 to 7 23,444 23,991 Machinery and equipment 3 to 5 11,433 10,867 Furniture and fixtures 5 1,601 1,605 Work in progress (1) N/A 2,060 1,655 Total cost 42,109 41,654 Accumulated depreciation (25,313 ) (24,890 ) Total property, plant and equipment, net $ 16,796 $ 16,764 (1) Work in progress includes production tooling and internal use software development.

Goodwill and Other Intangible28

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Other Intangible Assets	The rollforward of goodwill was as follows (in thousands): Direct Retail Total Balance, January 1, 2015 $ 2,520 $ — $ 2,520 Currency exchange rate adjustment (407 ) — (407 ) Business acquisition (Note 2) — 58,357 58,357 Balance, December 31, 2015 2,113 58,357 60,470 Currency exchange rate adjustment 147 (12 ) 135 Business acquisition (Note 2) - measurement period adjustments — (282 ) (282 ) Balance, March 31, 2016 $ 2,260 $ 58,063 $ 60,323 Other Intangible Assets Other intangible assets consisted of the following (in thousands): Estimated Useful Life (in years) As of March 31, 2016 December 31, 2015 Indefinite-lived trademarks N/A $ 32,052 $ 32,052 Definite-lived trademarks 10 to 15 2,600 2,600 Patents 8 to 24 31,487 31,487 Customer relationships 10 to 15 24,700 24,700 90,839 90,839 Accumulated amortization - definite-lived intangible assets (18,445 ) (17,485 ) Other intangible assets, net $ 72,394 $ 73,354
Amortization Expense	Amortization expense was as follows (in thousands): Three Months Ended March 31, 2016 2015 Amortization expense $ 960 $ 290
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Future amortization of definite-lived intangible assets is as follows (in thousands): Remainder of 2016 $ 2,592 2017 3,255 2018 3,162 2019 3,132 2020 3,106 Thereafter 25,095 $ 40,342

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): As of March 31, 2016 December 31, 2015 Payroll and related liabilities $ 3,916 $ 6,556 Other 6,666 6,471 Total accrued liabilities $ 10,582 $ 13,027

Product Warranties (Tables)

Product Warranties (Tables)	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in our product warranty obligations were as follows (in thousands): Three Months Ended March 31, 2016 2015 Balance, beginning of period $ 8,545 $ 2,246 Accruals 1,530 815 Payments (1,363 ) (564 ) Balance, end of period $ 8,712 $ 2,497

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables set forth the changes in accumulated other comprehensive income (loss), net of tax (in thousands): Unrealized Gain (Loss) on Available-for-Sale Securities Loss on Derivative Securities (Effective Portion) Foreign Currency Translation Adjustments Accumulated Other Comprehensive Loss Balance, December 31, 2015 $ (16 ) $ — $ (1,311 ) $ (1,327 ) Current period other comprehensive income (loss) before reclassifications 18 (810 ) 552 (240 ) Reclassification of amounts to earnings — 128 — 128 Net other comprehensive income (loss) during period 18 (682 ) 552 (112 ) Balance, March 31, 2016 $ 2 $ (682 ) $ (759 ) $ (1,439 ) Unrealized Loss on Available-for-Sale Securities Foreign Currency Translation Adjustments Accumulated Other Comprehensive Loss Balance, December 31, 2014 $ (18 ) $ (290 ) $ (308 ) Current period other comprehensive loss (1 ) (484 ) (485 ) Balance, March 31, 2015 $ (19 ) $ (774 ) $ (793 )

Income Per Share (Tables)

Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares Outstanding Used to Compute Income Per Share	The weighted average numbers of shares outstanding used to compute income per share were as follows (in thousands): Three Months Ended March 31, 2016 2015 Shares used to calculate basic income per share 31,016 31,396 Dilutive effect of outstanding stock options, performance stock units and restricted stock units 279 371 Shares used to calculate diluted income per share 31,295 31,767
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The weighted average numbers of shares outstanding listed in the table below were anti-dilutive and excluded from the computation of diluted income per share because, in the case of stock options, the average market price did not exceed the exercise price, and for the performance stock units, because these shares are subject to performance conditions that had not been met. These shares may be dilutive potential common shares in the future (in thousands): Three Months Ended March 31, 2016 2015 Stock options 11 25 Performance stock units — 163

Stock Repurchase Program Stock

Stock Repurchase Program Stock Repurchase Program (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Stock Repurchases	Repurchases pursuant to the program were as follows: Quarter Ended Number of Shares Repurchased Amount Average Price Per Share March 31, 2015 133,877 $ 1,995,982 $14.91 September 30, 2015 577,831 9,571,545 16.56 Totals to Date 711,708 $ 11,567,527 $16.25

Segment and Enterprise-wide I34

Segment and Enterprise-wide Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Summary Information by Reportable Segments	Following is summary information by reportable segment (in thousands): Three Months Ended March 31, 2016 2015 Net sales: Direct $ 81,234 $ 74,057 Retail 38,805 21,290 Royalty 889 892 Consolidated net sales $ 120,928 $ 96,239 Contribution: Direct $ 21,144 $ 19,571 Retail 3,944 1,500 Royalty 870 892 Consolidated contribution $ 25,958 $ 21,963 Reconciliation of consolidated contribution to income from continuing operations: Consolidated contribution $ 25,958 $ 21,963 Amounts not directly related to segments: Operating expenses (6,658 ) (4,358 ) Other expense, net (536 ) (77 ) Income tax expense (7,178 ) (6,669 ) Income from continuing operations $ 11,586 $ 10,859

Business Acquisition (Tables)

Business Acquisition (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair values of the net assets acquired and liabilities assumed and measurement period adjustments since December 31, 2015, the acquisition date (in thousands): Preliminary valuation at December 31, 2015 Measurement period adjustments Adjusted preliminary valuation at March 31, 2016 Cash $ 7,759 $ — $ 7,759 Accounts receivable 12,507 — 12,507 Inventories 12,168 1,515 13,683 Prepaid expenses 1,028 — 1,028 Deferred tax assets 1,287 (571 ) 716 Property, plant and equipment 3,240 — 3,240 Intangible assets 63,100 — 63,100 Total assets acquired 101,089 944 102,033 Accounts payable 6,215 — 6,215 Accrued liabilities 1,614 — 1,614 Warranty obligations 5,550 — 5,550 Deferred tax liabilities, non-current 20,914 — 20,914 Other non-current liabilities 519 — 519 Total liabilities assumed 34,812 — 34,812 Net identifiable assets acquired 66,277 944 67,221 Goodwill 58,357 (282 ) 58,075 Net assets acquired $ 124,634 $ 662 $ 125,296
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following table sets forth the components of identifiable intangible assets and their estimated fair values and useful lives as of December 31, 2015, the acquisition date (dollars in thousands): Estimated fair value Estimated useful life (years) Weighted-average amortization period (years) Trade name - Octane Fitness $ 23,000 Indefinite N/A Trade name - others 2,600 10 - 15 12.5 Patents 12,800 11 - 24 18 Customer relationships 24,700 10 - 15 13 $ 63,100
Business Acquisition, Pro Forma Information	The following table reflects the unaudited pro forma consolidated results of operations for the periods presented, as though the acquisition of Octane had occurred on January 1, 2014 (in thousands, except per share amounts): Three Months Ended March 31, 2016 2015 Net sales $ 120,928 $ 111,130 Net income 11,514 10,821 Net income per share: Basic $ 0.37 $ 0.34 Diluted 0.37 0.34

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value	The fair value of our derivative instruments was included in our Condensed Consolidated Balance Sheets as follows (in thousands): Balance Sheet Classification As of March 31, 2016 December 31, 2015 Derivatives instruments designated as cash flow hedges: Interest rate swap contract Accrued liabilities $ 230 $ — Other long-term liabilities 865 — $ 1,095 $ —
Derivative Instruments, Gain (Loss)	The effect of derivative instruments on our Condensed Consolidated Statements of Operations was as follows (in thousands): Statement of Operations Classification Three Months Ended March 31, 2016 2015 Derivatives instruments designated as cash flow hedges: Loss recognized in other comprehensive income before reclassifications --- $ (810 ) $ — Loss reclassified from accumulated other comprehensive income to earnings for the effective portion Interest expense $ (128 ) $ —

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Revenue related to discontinued operations	$ 0	$ 0
Facilities Leases
Restructuring Reserve [Roll Forward]
Balance, December 31, 2015	300,000
Payments	(75,000)
Balance, March 31, 2016	$ 225,000	$ 300,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	$ 19,099	$ 734
Available for Sale Securities	28,788	29,998
Assets measured at fair value	47,887	30,732
Total liabilities measured at fair value	(1,095)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	9,007	1
Available for Sale Securities	0	0
Assets measured at fair value	9,007	1
Total liabilities measured at fair value	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	10,092	733
Available for Sale Securities	28,788	29,998
Assets measured at fair value	38,880	30,731
Total liabilities measured at fair value	(1,095)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Available for Sale Securities	0	0
Assets measured at fair value	0	0
Total liabilities measured at fair value	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	9,007	1
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	9,007	1
Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	5,997
Commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	5,997
Commercial paper | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	27,064	25,234
Certificates of deposit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	0	0
Certificates of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	27,064	25,234
Certificates of deposit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for Sale Securities	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	4,095	733
Available for Sale Securities	1,724	4,764
Corporate bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Available for Sale Securities	0	0
Corporate bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	4,095	733
Available for Sale Securities	1,724	4,764
Corporate bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Available for Sale Securities	0	$ 0
Interest rate swap contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liability derivatives	(1,095)
Interest rate swap contract | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liability derivatives	0
Interest rate swap contract | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liability derivatives	(1,095)
Interest rate swap contract | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liability derivatives	$ 0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 33,265	$ 39,115
Parts and components	3,552	3,614
Total inventories	$ 36,817	$ 42,729

Property, Plant and Equipment (

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 42,109	$ 41,654
Accumulated depreciation	(25,313)	(24,890)
Total property, plant and equipment, net	16,796	16,764
Automobiles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 139	139
Automobiles | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	5 years
Automobiles | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	6 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,432	3,397
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	5 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	20 years
Computer software and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 23,444	23,991
Computer software and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	3 years
Computer software and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	7 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,433	10,867
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,601	1,605
Estimated Useful Life (in years)	5 years
Work in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,060	$ 1,655

Goodwill and Other Intangible41

Goodwill and Other Intangible Assets Goodwill Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Balance	$ 60,470	$ 2,520
Currency exchange rate adjustment	135	(407)
Business acquisition (Note 2)		58,357
Business acquisition (Note 2) - measurement period adjustments	(282)
Balance	60,323	60,470
Direct
Goodwill [Roll Forward]
Balance	2,113	2,520
Currency exchange rate adjustment	147	(407)
Business acquisition (Note 2)		0
Business acquisition (Note 2) - measurement period adjustments	0
Balance	2,260	2,113
Retail
Goodwill [Roll Forward]
Balance	58,357	0
Currency exchange rate adjustment	(12)	0
Business acquisition (Note 2)		58,357
Business acquisition (Note 2) - measurement period adjustments	(282)
Balance	$ 58,063	$ 58,357

Goodwill and Other Intangible42

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Indefinite-lived trademarks	$ 32,052	$ 32,052
Total other intangible assets, gross	90,839	90,839
Accumulated amortization - definite-lived intangible assets	(18,445)	(17,485)
Other intangible assets, net	$ 72,394	73,354
Definite-lived trademarks | Minimum
Goodwill [Line Items]
Estimated Useful Life (in years)	10 years
Definite-lived trademarks | Maximum
Goodwill [Line Items]
Finite-lived intangible assets, gross	$ 2,600	2,600
Estimated Useful Life (in years)	15 years
Patents | Minimum
Goodwill [Line Items]
Estimated Useful Life (in years)	8 years
Patents | Maximum
Goodwill [Line Items]
Finite-lived intangible assets, gross	$ 31,487	31,487
Estimated Useful Life (in years)	24 years
Customer relationships | Minimum
Goodwill [Line Items]
Estimated Useful Life (in years)	10 years
Customer relationships | Maximum
Goodwill [Line Items]
Finite-lived intangible assets, gross	$ 24,700	$ 24,700
Estimated Useful Life (in years)	18 years

Goodwill and Other Intangible43

Goodwill and Other Intangible Assets Patent amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 960	$ 290

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets Future intangible amortization (Details) $ in Thousands	Mar. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2016	$ 2,592
2,017	3,255
2,018	3,162
2,019	3,132
2,020	3,106
Thereafter	25,095
Finite-Lived Intangible Assets, Net	$ 40,342

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Payroll and related liabilities	$ 3,916	$ 6,556
Other	6,666	6,471
Total accrued liabilities	$ 10,582	$ 13,027

Product Warranties (Details)

Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Movement in Product Warranty Liability [Roll Forward]
Balance, beginning of period	$ 8,545	$ 2,246
Accruals	1,530	815
Payments	(1,363)	(564)
Balance, end of period	$ 8,712	$ 2,497
Minimum
Product Liability Contingency [Line Items]
Product warranty period	30 days

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 126,991
Net other comprehensive income (loss) during period	(112)	$ (485)
Balance at end of period	140,188
Unrealized Gain (Loss) on Available-for-Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(16)	(18)
Current period other comprehensive income (loss) before reclassifications	18	(1)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0
Net other comprehensive income (loss) during period	18
Balance at end of period	2	(19)
Loss on Derivative Securities (Effective Portion)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	0
Current period other comprehensive income (loss) before reclassifications	(810)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	128
Net other comprehensive income (loss) during period	(682)
Balance at end of period	(682)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,311)	(290)
Current period other comprehensive income (loss) before reclassifications	552	(484)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0
Net other comprehensive income (loss) during period	552
Balance at end of period	(759)	(774)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,327)	(308)
Current period other comprehensive income (loss) before reclassifications	(240)	(485)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	128
Net other comprehensive income (loss) during period	(112)
Balance at end of period	$ (1,439)	$ (793)

Income Per Share (Details)

Income Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income per share:
Shares used to calculate basic income per share	31,016	31,396
Dilutive effect of outstanding stock options, performance stock units and restricted stock units	279	371
Shares used to calculate diluted income per share	31,295	31,767
Stock options
Income per share:
Anti-dilutive securities excluded from computation of diluted income per share	11	25
Performance stock units
Income per share:
Anti-dilutive securities excluded from computation of diluted income per share	0	163

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - Common Stock - USD ($)	Nov. 03, 2014	Mar. 31, 2016
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 15,000,000
Stock repurchase program, period in force	24 months
Remaining authorized repurchase amount		$ 3,400,000

Stock Repurchase Program, Repur

Stock Repurchase Program, Repurchased Shares (Details) - Common Stock - USD ($)	3 Months Ended
	Mar. 31, 2016	Sep. 30, 2015	Mar. 31, 2015
Class of Stock [Line Items]
Number of Shares (in shares)	711,708	577,831	133,877
Repurchased Amount	$ 11,567,527	$ 9,571,545	$ 1,995,982
Average Price Per Share	$ 16.25	$ 16.56	$ 14.91

Segment and Enterprise-wide I51

Segment and Enterprise-wide Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	3
Number of reportable segments | segment	2
Net sales	$ 120,928	$ 96,239
Reconciliation of consolidated contribution to income (loss) from continuing operations:
Operating expenses	(47,044)	(36,284)
Income tax expense	(7,178)	(6,669)
Income from continuing operations	11,586	10,859
Operating Segments
Segment Reporting Information [Line Items]
Net sales	120,928	96,239
Contribution	25,958	21,963
Operating Segments | Direct
Segment Reporting Information [Line Items]
Net sales	81,234	74,057
Contribution	21,144	19,571
Operating Segments | Retail
Segment Reporting Information [Line Items]
Net sales	38,805	21,290
Contribution	3,944	1,500
Operating Segments | Royalty
Segment Reporting Information [Line Items]
Royalty	889	892
Unallocated royalty income, net	870	892
Segment Reconciling Items
Reconciliation of consolidated contribution to income (loss) from continuing operations:
Operating expenses	(6,658)	(4,358)
Other expense, net	(536)	(77)
Income tax expense	$ (7,178)	$ (6,669)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2016USD ($)
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Standby letters of credit outstanding	$ 0.5
Inventories
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Non-cancelable market-based purchase obligation	$ 36.9

Business Acquisition (Details)

Business Acquisition (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Net loss		$ 11,444,000	$ 10,732,000
Amortization expense		960,000	$ 290,000
Goodwill, acquired during period					$ 58,357,000
Octane Fitness
Business Acquisition [Line Items]
Purchase price	$ 115,000,000
Net sales		12,500,000
Net loss		(800,000)
Amortization expense		800,000
Inventory step-up expense		700,000
Measurement period adjustments, assets, goodwill and liabilities		662,000
Acquisition costs		$ 200,000		$ 800,000
JPMorgan Chase Bank, N.A. | Term Loan | Octane Fitness
Business Acquisition [Line Items]
Maximum revolving secured credit line	$ 80,000,000				80,000,000
Retail
Business Acquisition [Line Items]
Goodwill, acquired during period					58,357,000
Retail | Octane Fitness
Business Acquisition [Line Items]
Goodwill, acquired during period					$ 58,100,000

Business Acquisition - Assets A

Business Acquisition - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 60,323	$ 60,470	$ 2,520
Measurement period adjustments, goodwill	(282)
Octane Fitness
Business Acquisition [Line Items]
Cash	7,759	7,759
Accounts receivable	12,507	12,507
Inventories	13,683	12,168
Prepaid expenses	1,028	1,028
Deferred tax assets	716	1,287
Property, plant and equipment	3,240	3,240
Intangible assets	63,100	63,100
Total assets acquired	102,033	101,089
Accounts payable	6,215	6,215
Accrued liabilities	1,614	1,614
Warranty obligations	5,550	5,550
Deferred tax liabilities, non-current	20,914	20,914
Other non-current liabilities	519	519
Total liabilities assumed	34,812	34,812
Net identifiable assets acquired	67,221	66,277
Goodwill	58,075	58,357
Net assets acquired	125,296	$ 124,634
Measurement period adjustments, inventories	1,515
Measurement period adjustments, deferred tax assets	(571)
Measurement period adjustments, total assets	944
Measurement period adjustments, liabilities	0
Measurement period adjustments, assets and liabilities	944
Measurement period adjustments, goodwill	(282)
Measurement period adjustments, assets, goodwill and liabilities	$ 662

Business Acquisition - Intangib

Business Acquisition - Intangible Assets (Details) $ in Thousands	Dec. 31, 2015USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	$ 23,000
Finite-lived intangible assets acquired	63,100
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 2,600
Weighted-average amortization period (years)	12 years 6 months
Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 12,800
Weighted-average amortization period (years)	18 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 24,700
Weighted-average amortization period (years)	13 years
Minimum | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (years)	10 years
Minimum | Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (years)	11 years
Minimum | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (years)	10 years
Maximum | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (years)	15 years
Maximum | Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (years)	24 years
Maximum | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life (years)	15 years

Business Acquisition - Pro Form

Business Acquisition - Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Combinations [Abstract]
Net sales	$ 120,928	$ 111,130
Net income	$ 11,514	$ 10,821
Basic (in dollars per share)	$ 0.37	$ 0.34
Diluted (in dollars per share)	$ 0.37	$ 0.34

Derivatives (Details)

Derivatives (Details) - Interest rate swap contract - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Derivative, notional amount	$ 76,000
Derivative, fixed interest rate	1.42%
LIBOR
Derivative [Line Items]
Derivative, basis spread on variable rate	0.4385%
Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Fair value of liability derivatives	$ 1,095	$ 0
Derivatives Designated as Hedging Instruments | Accrued liabilities
Derivative [Line Items]
Fair value of liability derivatives	$ 230	$ 0

Derivatives - Fair value of der

Derivatives - Fair value of derivative instruments (Details) - Interest rate swap contract - Derivatives Designated as Hedging Instruments - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fair Value of Liability Derivatives	$ 1,095	$ 0
Accrued liabilities
Derivatives, Fair Value [Line Items]
Fair Value of Liability Derivatives	230	0
Other long-term liabilities
Derivatives, Fair Value [Line Items]
Fair Value of Liability Derivatives	$ 865	$ 0

Derivatives - Effect On Condens

Derivatives - Effect On Condensed Consolidated Statements of Operations (Details) - Interest rate swap contract - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Loss recognized in other comprehensive income before reclassifications	$ (810)	$ 0
Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from accumulated other comprehensive income to earnings for the effective portion	$ (128)	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Common Stock - USD ($)	May. 04, 2016	Nov. 03, 2014
Subsequent Event [Line Items]
Stock repurchase program, authorized amount		$ 15,000,000
Stock repurchase program, period in force		24 months
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 10,000,000
Stock repurchase program, period in force	24 months