Sales fell at Cybex International by 18.9 percent of $29.0 million for the third quarter ended Sept. 26, while net income plunged by 76.2 percent to $81.0 million. Cardio equipment dropped by 15 percent to $16.4 million, while strength equipment weakened by 26 percent to $10.1 million. “Other” went down by 16 percent to $2.5 million. Sales outside the domestic market decreased by 6 percent, while those in North America fell by 24 percent.
The company said the health club market has remained stagnant, so it is broadening its markets. Ten years ago, health clubs made up 80-85 percent of its sales, but that has fallen to 50 percent or less. Cybex is looking to other organizations such as the military and other government groups, schools and universities, and housing markets.
