EXHIBIT 99
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THE NAUTILUS GROUP
[LOGO]
FOR IMMEDIATE RELEASE
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CONTACTS: The Nautilus Group, Inc. Investor Relations Inquiries:
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Rod Rice John Mills
Chief Financial Officer Integrated Corporate Relations, Inc.
360-694-7722 310-395-2215--203-222-9013
THE NAUTILUS GROUP ANNOUNCES CHAIRMAN BRIAN COOK TO
RETIRE; APPOINTS GREGG HAMMANN TO SUCCEED AS CHAIRMAN
VANCOUVER, Wash., February 17, 2004 (BUSINESS WIRE) -- The Nautilus Group, Inc.
(NYSE: NLS), a leading marketer, developer, and manufacturer of branded health
and fitness products, today announced that Chairman Brian Cook will retire
effective March 1st, 2004 from his position as Chairman and member of the Board
of Directors. Gregg Hammann, President and Chief Executive Officer, has been
elected to assume the additional position of Chairman.
"I am pleased with what we have accomplished since the company was founded in
1986," said Mr. Cook, reflecting on his tenure. "With a very strong platform of
health and fitness products and a strong management team in place, it seems
appropriate that I retire as Chairman and as a member of the Board. Gregg joined
Nautilus in July 2003 and his performance over the past six months has been
outstanding. The prospects for the company's future are excellent under the
leadership of Gregg and his entire senior management team and this confidence is
shared by our entire board."
Brian Cook founded Bowflex, the predecessor to Nautilus, in 1986 and was elected
Chairman of the Board in 1986 and served as Chief Executive Officer from 1986 to
July 2003.
"Brian presided over the company as it evolved from the channel-focused Bowflex
brand to a leading marketer, developer, and manufacturer of branded health and
fitness products. This growth included the acquisitions of Nautilus, the fitness
division of Schwinn/GT Corp. and StairMaster, which have enabled the company to
considerably expand its portfolio of leading brands, product lines and channels
of distribution. His focus on the diversification of products and sales channels
and commitment to customer service and satisfaction has solidly placed the
company on a path to growth," said Mr. Hammann. "I would like to thank our
founder Brian Cook for having the vision to create a leader in this industry and
look forward to many years of continued friendship."
Mr. Hammann continued, "I am honored to assume the role of Chairman and look
forward to positioning Nautilus as the brand leader in the health and fitness
industry. Our company has tremendous growth potential as we help educate people
on the benefits of fitness. We have an exciting future in front of us as we
engage our brands, programs and team to help people achieve a fit and healthy
lifestyle."
ABOUT THE NAUTILUS GROUP
The Nautilus Group, Inc. is a leading marketer, developer, and manufacturer of
branded health and fitness products sold under such well-known names as
Nautilus, Bowflex, Schwinn and StairMaster. The Company currently markets its
Bowflex and TreadClimber home fitness equipment and Nautilus Sleep Systems
through its direct-marketing channel, using an effective combination of
television commercials, infomercials, response mailings, the Internet, and
inbound/outbound call centers. The Company sells its Nautilus, Schwinn and
StairMaster commercial fitness equipment through its sales force and selected
dealers to health clubs, government agencies, hotels, corporate fitness centers,
colleges, universities, and assisted living facilities. The Nautilus Group also
markets and sells a complete line of consumer fitness equipment, under its
Nautilus, Schwinn, Bowflex, StairMaster and Trimline brands, through a network
of specialty dealers, distributors, and retailers worldwide. The Company is
headquartered in Vancouver, Washington. The Nautilus Group is located on the Web
at www.nautilusgroup.com.
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This press release includes forward-looking statements, including statements
related to anticipated revenues, expenses, earnings, operating cash flows,
distribution channels and new product introductions. Factors that could cause
The Nautilus Group's actual results to differ materially from these
forward-looking statements include availability of media time and fluctuating
advertising rates, a decline in consumer spending due to unfavorable economic
conditions, expiration of important patents, its reliance on a limited product
line, its ability to effectively develop, market, and sell future products, its
ability to effectively identify and negotiate any future strategic acquisitions,
its ability to integrate any acquired businesses into its operations,
unpredictable events and circumstances relating to international operations
including its use of foreign manufacturers, government regulatory action, and
general economic conditions. Please refer to our reports and filings with the
Securities and Exchange Commission, including our most recent annual report on
Form 10-K and quarterly reports on Form 10-Q, for a further discussion of these
risks and uncertainties. We also caution you not to place undue reliance on
forward-looking statements, which speak only as of the date they are made. We
undertake no obligation to update publicly any forward-looking statements to
reflect new information, events or circumstances after the date they were made
or to reflect the occurrence of unanticipated events.