Nautilus Inc. expects to incur charges of $13.5 million in connection with its previously announced plan to shed its commercial business division, according to a regulatory filing with the Securities and Exchange Commission. It expects $4 million in cash charges and $9.5 million in noncash charges as a result of the divestiture.
Nautilus in late February said it would lease its Virginia manufacturing plant to California-based Med-Fit Systems Inc. and sell certain assets within the plant to the company. Nautilus last fall said it planned to sell its struggling commercial
business, which sells products to health clubs and hotels, in order to
focus on consumer sales.
