RTTNews | Feb 23, 2021 10:08AM EST

10:08 Tuesday, February 23, 2021 (RTTNews.com) - Shares of fitness solutions provider Nautilus, Inc. (NLS) are down more than 17% Tuesday morning despite reporting upbeat fourth-quarter results.

As tech-shares sell-off continues, US shares were down at the open today.

Net income in the fourth quarter increased by 729.8% to $28.9 million, or $0.89 per share, from $3.5 million, or $0.12 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share.

Net sales were $189.3 million, up 81.7% compared to $104.2 million last year, thanks to continued demand for the company's connected-fitness bikes as well as robust sales of SelectTech weights and Bowflex Home Gyms.

For the transition period from January 1, 2021 to March 31, 2021, the company sees sales growth of 55% to 75%.

NLS, currently at $21.92, has been trading in the range of $1.20- $31.38 in the last 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3172039/stock-alert-nautilus-loses-19-despite-upbeat-results.aspx)

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