April 20, 2010
Fitness Equipment Firm Cools Down In Q1
By Matthew L. Brown
Cybex International Inc. of Medway said first quarter sales were $26.1 million, a 10 percent drop from the $28.9 million the exercise equipment manufacturer brought in a year ago.
The company said it lost $800,000 during the quarter. During the first quarter of 2009, it lost $1.4 million.
Purchases of exercise equipment by fitness clubs have been slow, and the company said it is directing its marketing efforts to new customers, including professional and college sports teams.
Cybex finished the quarter with $6.8 million in cash compared to $6.9 million a year earlier.
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