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Cybex International, Inc. (AMEX: CYB), a leading
exercise equipment manufacturer, announced that the Superior Court of
Pennsylvania has affirmed the previously reported $2,452,783 judgment
entered March 31, 2004 against the Company in the Kirila v. Cybex
International, Inc. litigation. The Company continues to believe that
the basis for that judgment was in error, and it intends to file a
Petition for Allowance of Appeal with the Supreme Court of
Pennsylvania.
CYBEX is in the process of analyzing whether any net adjustment to
its litigation reserve is required, including in connection with the
Kirila judgment and related costs and expenses, including interest.
The Company anticipates that, if a litigation charge is necessary, the
impact on fourth quarter 2005 pre-tax operating income will not exceed
$900,000. While CYBEX intends to continue its appeal in the Kirila
matter, it has sufficient liquidity to satisfy the judgment if its
appeal to the Supreme Court of Pennsylvania is ultimately
unsuccessful.
Cybex International, Inc. is a leading manufacturer of premium
exercise equipment for commercial and consumer use. The CYBEX product
line includes a full range of both strength training and cardio
training machines sold worldwide under the CYBEX brand. Products and
programs are designed and engineered to reflect the natural movement
of the human body, assisting each unique user - from the professional
athlete to the first-time exerciser - to improve daily human
performance. For more information on CYBEX and its product line,
please visit the Company's website at www.cybexinternational.com.
This news release may contain forward-looking statements. There
are a number of risks and uncertainties that could cause actual
results to differ materially from those anticipated by the statements
made above. These include, but are not limited to, competitive
factors, technological and product developments, market demand,
economic conditions, and the ability of the Company to comply with the
terms of its credit facilities. Further information on these and other
factors which could affect the Company's financial results can be
found in the Company's previously filed Report on Form 10-K, its
Reports on Form 10-Q, its Current Reports on Form 8-K, and its proxy
statement dated April 6, 2005.