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MASS. MOVERS

Cybex turns a year-ago loss into a profit

Cybex International, Inc. (NASDAQ: CYBI), a leading U.S. manufacturer of premium exercise equipment, today reported results for the fourth quarter and year ended December 31, 2011. Net sales for the fourth quarter of 2011 were $43.1 million compared to $39.9 million for the corresponding 2010 period, an 8 increase. The Company reported net income of $34.7 million, or $2.03 per diluted share, compared to a net loss of ($57.1) million or ($3.34) per diluted share, reported for the corresponding 2010 period. The 2011 and 2010 results include a 2010 litigation charge pertaining to the jury verdict in the product liability suit, Barnhard v. Cybex International, Inc., and the 2011 adjustments to the charge relating to the settlement of the suit. Net income for the quarter excluding these charges and adjustments was $2.7 million or $0.16 per fully diluted share for 2011 and $1.5 million or $0.09 per fully diluted share for 2010.

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