UNITED ~~STATES SECURITIES~~STATESSECURITIES AND EXCHANGE ~~COMMISSION~~ ~~WASHINGTON~~COMMISSIONWASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): January 1127, 2005

ICON HEALTH & FITNESS INC.
(Exact name of registrant as specified in its charter)

COMMISSION FILE NUMBER: 333-93711

DELAWARE	87-0531206
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
(State or other jurisdiction of incorporation)	(I.R.S. Employer Identification No.)

1500 South 1000 West

Logan, UT, 84321

(Address and zip code of principal executive offices)

(435) 750-5000 (Registrant's telephone number, including area code)

CHECK THE APPROPRIATE BOX BELOW IF THE FORM 8-K FILING IS INTENDED TO SIMULTANEOUSLY SATISFY THE FILING OBLIGATION OF THE REGISTRANT UNDER ANY OF THE FOLLOWING PROVISIONS:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 2.02	RESULTS OF OPERATIONS AND FINANCIAL CONDITION
	On January 11, 2005, ICON Health & Fitness, Inc. announced by press release its earnings for the three and six months ended November 27, 2004. A copy of the press release is attached hereto as Exhibit 99.1.
Item 7.01	REGULATION FD DISCLOSURE
	On January 11, 2005, ICON Health & Fitness, Inc. announced by press release its earnings for the three and six months ended November 27, 2004. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01	FINCANCIAL STATEMENTS AND EXHIBITS

Item 8.01

Other Events

~~Exhibit~~(Logan, ~~99.1~~Utah ~~Press~~- ~~Release~~January of27, 2005) - ICON Health & Fitness, Inc. ~~dated~~("the Company") announced today that the estimated costs associated with the recent recall of its JumpKing® trampolines and FunRing enclosures announced by the U.S Product Consumer Safety Commission ("CPSC") in its Release # 05-092 on January 1125, 2005, ~~announcing~~were ~~earnings~~accrued ~~for~~as a liability in the second ~~three~~quarter ~~and~~of ~~six~~fiscal ~~months~~2005 which ended on November 27, 2004. A charge of approximately $0.8 million was accounted for and reported as part of the discontinued operations in the Company's latest Form 10-Q filed with the Securities and Exchange Commission on January 11, 2005.

SIGNATURE

ICON HEALTH & FITNESS, INC. By: /s/ S. Fred Beck Name: S. Fred Beck Title: Chief Financial Officer Date: January 1127, 2005

EXHIBIT INDEX

Exhibit
Number

Description

99.1 ~~Press Release of~~ ICON Health & Fitness, ~~Inc.~~Clarifies ~~dated~~Financial ~~January~~Impact ~~11,~~of ~~2005,~~JumpKing® ~~announcing~~Trampoline ~~earnings for the three and six months ended November 27, 2004.~~Recall

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