Cybex Doubles Q4 Net Income on 12% Sales Gain

Cybex International, Inc. reported net sales for the fourth quarter were $29.8 million versus $26.6 million for the comparable 2003 period, an increase of 12%. Net income for the quarter ended December 31, 2004 was $1.7 million, or 10 cents per share on a fully diluted basis, compared to net income of $796,000, or 8 cents per share on a fully diluted basis, for the fourth quarter of 2003.

Net sales for the year ended December 31, 2004 were $103.0 million compared to $90.2 million for 2003, an increase of 14%. The net income for the year ended December 31, 2004 was $3.2 million, or 24 cents per fully diluted share, compared to a net loss of $1.8 million, or a loss of 23 cents per fully diluted share, for 2003.

John Aglialoro, Chairman and CEO, stated, “The 14% sales growth for 2004 is the result of our commitment to innovation and we believe we have a strong pipeline of new products including Trazer, which we expect to begin selling in the second quarter of 2005. Trazer is a virtual reality based exercise product that evaluates performance and movement. Operating income for the fourth quarter increased 31% over the same period in 2003, despite the impact of higher steel costs. We strengthened our balance sheet considerably during 2004, which will facilitate our efforts to continue to grow and fulfill the needs of new markets.”

                     CYBEX INTERNATIONAL, INC.
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                 (IN THOUSANDS, EXCEPT PER SHARE DATA)

                                 Three Months Ended     Year Ended
                                  December December December  December
                                     31,      31,       31,      31,
                                    2004     2003      2004     2003
                                  -------- -------- --------- --------

Net sales                         $29,803  $26,587  $103,023  $90,195

Cost of sales                      19,507   16,859    65,951   59,541
                                  -------- -------- --------- --------

     Gross profit                  10,296    9,728    37,072   30,654

     As a percentage of net sales    34.5%    36.6%     36.0%    34.0%

Selling, general and
     administrative expenses        7,960    7,948    30,191   28,862
                                  -------- -------- --------- --------

Operating income                    2,336    1,780     6,881    1,792

Interest expense, net                 637      984     3,525    3,604
                                  -------- -------- --------- --------

Income (loss) before income
     taxes                          1,699      796     3,356   (1,812)

Income tax provision (benefit)         92       --       131      (51)
                                  -------- -------- --------- --------

Net income (loss)                   1,607      796     3,225   (1,761)

Preferred stock dividends              --     (122)     (276)    (244)
                                  -------- -------- --------- --------
Net income (loss) attributable
     to common stockholders        $1,607     $674    $2,949  $(2,005)
                                  ======== ======== ========= ========
Basic net income (loss) per share   $0.11    $0.08     $0.26   $(0.23)
                                  ======== ======== ========= ========
Diluted net income (loss) per
 share                              $0.10    $0.08     $0.24   $(0.23)