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Cybex International, Inc. (AMEX: CYB), a leading
exercise equipment manufacturer, announced that the Supreme Court of
Pennsylvania will not hear the Company's or the plaintiffs' respective
appeals of the previously reported $2,452,783 judgment entered against
the Company in the Kirila v. Cybex International, Inc. litigation.
While the Company is disappointed in this result, and continues to
believe that the basis for that judgment was in error, it does not
intend to further pursue its appeals. The Company is discussing with
plaintiffs' counsel the amount of post-judgment interest to be added
to the judgment, plus related costs, if any. The Company believes the
total amount which the Company will be required to satisfy is covered
by the Company's litigation reserves, and accordingly the payment of
the judgment, anticipated for the third quarter of this year, should
not result in a charge to earnings.
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, the resolution of litigation involving the
Company, 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 4, 2006.