Cybex International, Inc. (NASDAQ: CYBI), a leading manufacturer of premium exercise equipment, today reported results for its third quarter ended September 25, 2010. Net sales for the third quarter of 2010 were $29.2 million compared to $29.0 million for the corresponding 2009 period. The Company reported a net loss for the third quarter of 2010 of $15,000, or $0.00 per diluted share, compared to net income of $81,000, or $0.00 per diluted share, reported for the corresponding 2009 period.
For the nine months ended September 25, 2010, net sales were $83.0 million compared to $85.7 million for 2009. The loss for the nine months ended September 25, 2010 was $1.1 million, or $0.07 per diluted share, compared to a net loss of $3.4 million, or $0.20 per diluted share, for 2009.
CYBEX Chairman and CEO John Aglialoro stated, "The third quarter of 2010 continued the stabilizing trend of Q2 with sales slightly higher than Q3 2009 and gross margins improving from both Q2 2010 and 2009 levels. The investments in marketing, sales and new products resulted in higher SG&A but we expect these investments to result in higher future sales as we penetrate new markets."
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