Why Nautilus, Inc.'s Shares Plunged 24% Today

Shares of fitness company Nautilus, Inc. (NYSE: NLS) plunged as much as 23.9% on Tuesday after it reported third-quarter earnings. Profits beat estimates, but management lowered full-year guidance, and that's why shares are dropping. At 10:55 a.m. EDT shares were still down 19.5% on the day.

Third-quarter revenue was up 9% versus a year ago to $88.1 million as retail sales jumped 15.8% to $53.5 million. Operating income was up 62.8% to $13.4 million and income from continuing operations was $8.3 million, or $0.27 per share. That easily surpassed the $0.23 in earnings that analysts expected. But that's the end of the good news.

Image source: Getty Images.

Source: Fool.com