RTTNews | Aug 11, 2020 10:07AM EDT

10:07 Tuesday, August 11, 2020 (RTTNews.com) - Nautilus, Inc. (NLS) shares are rising on Tuesday morning trade as its second-quarter net loss sharply narrowed on nearly double the revenue from the prior year. The technology-driven home fitness company reported a second-quarter net loss of $5.110 million compared with $78.87 million loss in the prior year.

On a per-share basis, loss narrowed to $0.17 from $2.66 in the previous year. Net sales surged 93.5 percent to $114.19 million from $59.00 million.

Direct sales increased 142 percent and retail segment sales were up 68 percent from the same quarter last year. The company said it managed to accelerate the supply chain to meet heightened demand since March. Cardio and strength products, especially connected fitness bikes, max trainer, and treadmills recorded strong demand. NLS is currently at $14.36, up 16.10 percent from the prior close of $12.36. For the 52-week period, the shares have traded in a range of $1.20 to $15.91 on average volume of 1,325,851.

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