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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: DECEMBER 8, 2003
(DATE OF EARLIEST EVENT REPORTED)
THE NAUTILUS GROUP, INC.
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(Exact name of registrant as specified in its charter)
Washington 000-25867 94-3002667
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1400 NE 136th Avenue
Vancouver, Washington 98684
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(Address of principal executive offices and zip code)
(360) 694-7722
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
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THE NAUTILUS GROUP, INC.
FORM 8-K
ITEM 5. OTHER EVENTS
The Nautilus Group, Inc. (the "Company") has informed its retailers that,
effective on or about December 8, 2003, the Company is implementing a safety
reinforcement program specifically for Bowflex Power Pro exercise machines that
are equipped with a lat tower attachment. This safety reinforcement program does
not include Power Pro models without the lat tower attachment nor does it
include any models of the Bowflex Motivator, Ultimate, Xtreme or Versatrainer.
In cooperation with the U.S. Consumer Product Safety Commission (the "CPSC"),
the Company is working with its retailers to upgrade existing retail inventory
with the necessary safety reinforcement hardware.
The Company expects a formal announcement will be made jointly by the Company
and the CPSC in January 2004, notifying customers how they can obtain a free
safety reinforcement kit.
The Company expects that the total cost of the safety reinforcement program will
not exceed a $2.6 million reserve that the Company has already established as
part of its product warranty reserve as of September 30, 2003.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE NAUTILUS GROUP, INC.
(Registrant)
December 8, 2003 By: /s/ Rod W. Rice
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(Date) Rod W. Rice,
Chief Financial Officer,
Treasurer and Secretary