MEDWAY, MA — The clouds may be lifting for Cybex International Inc., or so John Aglialoro indicated last month.
“It's a good feeling here that I haven't had in a few years in terms of the next four to eight quarters,” the chairman and CEO of the Medway, MA-based company said in a call with shareholders and analysts detailing second quarter 2010 financials. “We'll see Cybex get its share of the pie.”
Second quarter net sales were $27.7 million, with a net loss of $0.4 million, compared to the same period last year when the company reported $27.8 million in net sales. However, that's still down from second quarter 2008, when net sales were $33.1 million, and 2007, when net sales were $34.7 million.
But an apparent flattening is reason for optimism after two years of decreases due to a recession.
“There has been a couple of our competitors that have been out of the picture during the year, which gives us more to play with in the sand pile,” Aglialoro said, although he did not name any specific manufacturers. “So having a few competitors not performing as well as they have a few years ago has helped.”