Direct Focus, Inc., Vancouver, WA, had 1998 sales of $57.3 million, up 188% from $19.9 million in 1997. Higher sales and a 4% improvement in gross margins produced net income of $12.5 million, compared to $2.5 million in 1997. Net income for the year was approximately 22% of sales compared to 13% in 1997.
For the fourth-quarter of 1998, the company had sales of $18.8 million, 158% higher than $7.3 million in fourth-quarter 1997. Net income rose by 269%, from $1.3 million to $4.8 million. The quarter and the year ended Dec. 31.
On January 4, Direct Focus acquired the assets of Nautilus International, Inc. from Delta Woodside Industries, Inc. for $16 million in cash. The company also assumed $2.8 million in liabilities.
In addition to the newly purchased Nautilus International line, Direct Focus is a direct marketer of Bowflex home fitness equipment.
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