Cybex Announces Second Quarter Results

MEDWAY, Mass.--(Business Wire)--
Cybex International, Inc. (NASDAQ: CYBI), a leading manufacturer
of premium exercise equipment for the commercial and consumer markets,
today reported results for its second quarter ended June 28, 2008.

Net sales for the second quarter of 2008 were $33.1 million
compared to $34.7 million for the corresponding 2007 period. The
Company reported net income for the second quarter of 2008 of $.1
million, or $0.01 per diluted share, compared to $1.1 million, or
$0.06 per diluted share, reported for the corresponding 2007 period.

For the six months ended June 28, 2008, net sales increased to
$72.9 million compared to $69.4 million for 2007. Net income for the
six months ended June 28, 2008 was $1.4 million, or $0.08 per diluted
share, compared to net income of $2.2 million, or $0.12 per diluted
share, for 2007.

John Aglialoro, Chairman and CEO stated, "Through timely
management of production and expenses, CYBEX achieved a modest profit
in a difficult sales quarter. Although the U.S. and world economic
conditions continue to be a concern, the fitness industry appears to
be performing relatively well and the sales order rate at CYBEX began
to improve at the end of Q2. We remain confident that our strategy of
emphasizing new products and expanding markets, combined with a
continued focus on cost savings and manufacturing efficiencies, will
promote both increased long-term sales and earnings growth."

The Company will hold a conference call today. If you cannot
participate in the call but wish to listen to it, you may login at
CYBEX's website at www.cybexintl.com. Under the category Company,
click on Press, scroll to bottom and select Q2 Earnings Release
Conference Call.

About CYBEX

Cybex International, Inc. is a leading manufacturer of premium
exercise equipment for commercial and consumer use. The CYBEX product
line includes a full range of both strength training and cardio
training machines sold worldwide under the CYBEX brand. Products and
programs are designed and engineered to reflect the natural movement
of the human body, assisting each unique user -- from the professional
athlete to the first-time exerciser -- to improve daily human
performance. For more information on CYBEX and its product lines,
please visit the Company's website at www.cybexintl.com.

This news release may contain forward-looking statements. There
are a number of risks and uncertainties that could cause actual
results to differ materially from those anticipated by the statements
made above. These include, but are not limited to, competitive
factors, technological and product developments, market demand,
economic conditions, the resolution of litigation involving the
Company, and the ability of the Company to comply with the terms of
its credit facilities. Further information on these and other factors
which could affect the Company's financial results can be found in the
Company's previously filed Report on Form 10-K for the year ended
December 31, 2007, its Reports on Form 10-Q, its Current Reports on
Form 8-K, and its proxy statement dated April 4, 2008.

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- Financial Tables to Follow -

CYBEX INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(unaudited)

Three Months Ended Six Months Ended
------------------ -----------------
June 28, June 30, June 28, June 30,
2008 2007 2008 2007
--------- -------- -------- --------

Net sales $33,136 $34,740 $72,916 $69,416
Cost of sales 22,480 22,535 48,088 44,317
--------- -------- -------- --------
Gross profit 10,656 12,205 24,828 25,099
As a percentage of sales 32.2% 35.1% 34.1% 36.2%
Selling, general and
administrative expenses 10,115 10,380 21,640 21,176
--------- -------- -------- --------
Operating income 541 1,825 3,188 3,923
Interest expense (income), net 278 (48) 625 162
--------- -------- -------- --------
Income before income taxes 263 1,873 2,563 3,761
Income taxes 135 778 1,117 1,562
--------- -------- -------- --------
Net income $ 128 $ 1,095 $ 1,446 $ 2,199
========= ======== ======== ========
Basic net income per share $ 0.01 $ 0.06 $ 0.08 $ 0.13
========= ======== ======== ========
Diluted net income per share $ 0.01 $ 0.06 $ 0.08 $ 0.12
========= ======== ======== ========
Shares used in computing basic
net income per share 17,388 17,309 17,377 17,288
========= ======== ======== ========
Shares used in computing diluted
net income per share 17,719 17,911 17,713 17,902
========= ======== ======== ========
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CYBEX INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(unaudited)

June 28, December 31,
2008 2007
-------- ------------
ASSETS
Current assets:
Cash and cash equivalents $ 1,654 $ 609
Accounts receivable, net 16,315 21,015
Inventories 13,459 13,803
Prepaid expenses and other 3,906 1,970
Deferred tax asset 4,325 4,325
-------- ------------
Total current assets 39,659 41,722
Property and equipment, net 35,049 34,089
Goodwill 11,247 11,247
Deferred tax asset 9,659 10,718
Other assets 327 353
-------- ------------
$95,941 $98,129
======== ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current maturities of long-term debt $ 1,520 $ 2,628
Accounts payable 6,904 7,021
Accrued expenses 11,800 13,887
-------- ------------
Total current liabilities 20,224 23,536
Long-term debt 15,753 16,322
Other liabilities 3,171 3,229
-------- ------------
Total liabilities 39,148 43,087
Stockholders' equity 56,793 55,042
-------- ------------
$95,941 $98,129
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Cybex International, Inc.
Arthur W. Hicks, Jr., 508-533-4300
President and COO

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