Cybex International said net sales for its third quarter ended Sept. 25, 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 cents per diluted share, compared to net income of $81,000, or 0 cents per diluted share.

For the nine months ended Sept. 25, 2010, net sales were $83.0 million compared to $85.7 million for 2009. The loss for the nine months ended Sept. 25, 2010 was $1.1 million, or 7 cents per diluted share, compared to a net loss of $3.4 million, or 20 cents 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.”


CYBEX INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(unaudited)



                                                                                               Three Months Ended              Nine Months Ended
                                                                   —————————– ——————————-
                                                                    September 25,  September 26,  September 25,   September 26,
                                                                        2010           2009           2010            2009
                                                                   ————– ————– ————— —————
Net sales                                                               $ 29,235       $ 28,986       $  83,023       $  85,662
Cost of sales                                                             18,742         19,829          53,559          61,461
                                                                          ——  ————–        ——-         ——-
     Gross profit                                                         10,493          9,157          29,464          24,201
     As a percentage of sales                                              35.9%          31.6%           35.5%           28.3%
Selling, general and administrative expenses                              10,505          8,997          30,294          27,932
                                                                          ——  ————–        ——-         ——-
Operating income (loss)                                                     (12)            160           (830)         (3,731)
Interest expense, net                                                        281            307             983             907
                                                                          ——  ————–        ——-         ——-
Loss before income taxes                                                   (293)          (147)         (1,813)         (4,638)
Income tax benefit                                                         (278)          (228)           (689)         (1,208)
                                                                          ——  ————–        ——-         ——-
Net income (loss)                                                       $   (15)           $ 81       $ (1,124)       $ (3,430)
                                                                   ====== ======  ============== ====== =======  ====== =======
Basic and diluted net income (loss) per share                           $   0.00       $   0.00       $  (0.07)       $  (0.20)
                                                                   ====== ======  ====== ======  ====== =======  ====== =======
Shares used in computing basic and diluted net income (loss) per          17,120         17,096          17,120          17,201
share