NLS - Nautilus unloads Octane Fitness as it lasers in on at-home business

Nautilus ([[NLS]] -0.5%) says it closed on the sale of its commercially focused Octane Fitness business to TRUE Fitness Technology for $25.0M.TRUE also assumed $3M of warranty liabilities and $500K of vendor recourse lease obligations. "The sale of Octane Fitness aligns with the larger strategic enhancements we are making as a business to streamline our operations and accelerate the transformation of the consumer side of our business," says Nautilus CEO Jim Barr. "We are focused on dramatically enhancing connected in-home fitness and continuing to provide our customers with cutting-edge technology and a superior customer experience. We will use the proceeds of this transaction and our improving balance sheet to continue the transformation of our leading fitness offerings," he adds.Source: Press ReleaseNautilus heads into its Q3 earnings report with shares up 118% in 90 days. See the consensus estimates.

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Nautilus unloads Octane Fitness as it lasers in on at-home business