UPDATE 1-Nautilus Q1 loss doubles
* Q1 net loss $0.45/shr vs $0.20/shr loss last year
* Q1 net sales down 44 pct to $72.1 mln
May 11 (Reuters) - Fitness-equipment maker Nautilus Inc's (NLS.N) quarterly loss more than doubled, hurt by restructuring charges from closure of a manufacturing unit and a write-off tied to abandoned information technology software.
For the first quarter, the company, which makes fitness products under brands like Nautilus, Bowflex, Schwinn Fitness and StairMaster, posted a net loss of $13.8 million, or 45 cents a share, compared with a loss of $6.4 million, or 20 cents a share, in the year-ago quarter.
Excluding restructuring charges, which include charges related to closure of the manufacturing facility in Tulsa, Oklahoma, adjusted loss from continuing operations was $8.3 million for the quarter.
The company which competes with Johnson Health Tech Co Ltd, and ICON Health and Fitness said net sales fell 44 percent to $72.1 million.
Analysts on average were looking for a loss of 12 cents a share, before special items, on revenue of $88.8 million, according to Reuters Estimates.
"During the first quarter, we achieved the highest gross margins in over a year and reduced operating expenses by 33 percent compared to the same period last year," Chief Executive Edward Bramson said in a statement.
Shares of the Vancouver, Washington-based company closed at 97 cents Monday on the New York Stock Exchange. (Reporting by Sumedha Mukherjee in Bangalore; Editing by Ratul Ray Chaudhuri)
