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Joyce Leaves Nautilus

VANCOUVER, WA -- Timothy Joyce, Nautilus Inc.’s general manager and senior vice president, left Nautilus on Friday, according to a one-sentence filing with the U.S. Securities and Exchange Commission. The filing gave no reason for Joyce’s departure or information about a possible replacement.

Joyce’s departure comes just a few days after Nautilus reported that first quarter sales were $72.1 million, down 44.4 percent from first quarter 2008. However, Nautilus also reported that day that it had reduced its debt from $52.9 million at the end of first quarter 2008 to $100,000 at the end of first quarter 2009.

As general manager, Joyce handled day-to-day operations, and the leaders of the company’s three divisions reported directly to him.

A call to Nautilus for details about the departure and Joyce’s replacement has not yet been returned.
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