Cybex International, Inc. reported net sales for the second quarter of $30.0 million, an increase of 10.1% when compared to the $27.2 million posted in the same period last year. Gross margin increased 80 basis points to 86.3% of sales from 85.5% last year. Combined with 40 basis point decline in SG&A expenses to 28.9% of sales, the company was able to report net income for the second quarter of $16.1 million, or 96 cents per diluted share. However, it was a reduction of the valuation reserve for deferred taxes that really boosted the bottom line as the company’s second quarter pro forma net income would have been $1.7 million, or 10 cents per diluted share, compared to net income for the second quarter of 2005 of $1.0 million, or 7 cents per diluted share.