MarineMax, based in Clearwater, Fla., is the nation’s largest recreational boat retailer and the largest Sea Ray dealer in the world.

MarineMax reports 3Q results

MarineMax today reported lower revenue for its fiscal 2009 third quarter amid continuing weak boat sales, a tight retail lending environment, and low consumer confidence. Also, executives said dealer failures and boat repossessions will continue, resulting in short-term dumping of product into the market for the remainder of this year. “The recovery will take longer…more

MarineMax to release 3Q results next week

MarineMax will release its third quarter fiscal 2009 financial results next Thursday before the market opens. The company will host a conference call at 10 a.m. July 30 to review those results. The call can be accessed from the investor relations section of the company’s Web site. The online replay will be available for a…more

MarineMax amends credit agreement with lenders

MarineMax Inc. amended its credit and security agreement with its seven lenders to provide the company with greater flexibility under its EBITDA covenant for fiscal 2009 and fiscal 2010. “The amendment was structured to help us achieve our objective of reducing our inventory and streamlining our cost structure, which will best position MarineMax as industry…more

MarineMax reports 2Q results

MarineMax today reported a sharp decline in revenue and same-store sales for the second quarter, which ended March 31. Revenue was $129.6 million for the quarter, compared with $233.3 million for the comparable quarter last year. Same-store sales declined about 41 percent, compared with a 28 percent decrease in the comparable quarter last year. Revenue…more

MarineMax 2Q earnings to be released May 7

MarineMax will release its second-quarter fiscal 2009 financial results May 7 prior to the market’s opening. The company will hold a conference call that morning, beginning at 10 a.m. EDT, to discuss the results. The call will be broadcast on the company’s Web site in the investor relations section The online replay will be available…more

MarineMax hires marketing firm

MarineMax named The Avala Marketing Group of St. Louis as its official agency of record. It will be responsible for creative development of advertising and collateral, digital strategy and solutions as well as prospect communications and dealer support programs. “We’ve worked with Avala for several years on a wide variety of projects, and the results…more

Dealer and Distributors

Aeré has appointed two California MarineMax dealers — one in San Diego and one in Oakland — to sell its inflatable fenders on the West Coast. “Our relationship with the nation’s largest recreational boating and yachting retailer will be great for both of us,” Aeré president Gary Abernathy said in a statement. “MarineMax’s staff offers…more

MarineMax completes amendment to credit agreement

MarineMax has amended its credit and security agreement with its lenders, allowing for a line of credit up to $425 million. The line of credit steps down to $350 million by Sept. 30, 2009, and $300 million by May 31, 2010. However, MarineMax said the amendment allows it to obtain commitments from existing or additional…more

Dealer Digest

MarineMax is adding Hatteras and Cabo to its offerings in New York and New Jersey. Previously, MarineMax offered Cabo boats only in Florida, and Hatteras in Florida and Texas. The dealer has had “great success” with both brands in those locations and is eager to expand into the Northeast, according to William H. McGill Jr.,…more

Analysts see MarineMax weathering weak market

Analysts were not surprised by MarineMax’s earnings report released Thursday, with one saying the company was managing well despite weak market conditions. “We think MarineMax is managing well through the industry downturn, which we expect to continue into 2009, albeit at a lesser rate than 2008,” said Laura Richardson of BB&T Capital Markets, who maintained…more

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