Direct Focus To Buy Back Stock

Direct Focus Inc., Vancouver, WA, will buy back up to $8 million of the marketing company's common stock over the next 90 days.

The company believes its stock in undervalued. In a statement, Direct Focus president Brian Cook indicated that the buy back was good use of the company's resources given its June 30 cash position of $27.3 million and its trailing four quarters earnings of $1.64 per share, excluding a one-time litigation charge taken in the second quarter.

Direct Focus is best known for its Bowflex home fitness equipment. It also markets Nautilus fitness equipment and sleep systems.