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

Brunswick sales are bulk of MarineMax revenue

In its annual report filed with the Securities and Exchange Commission, MarineMax noted that, for fiscal 2009, approximately 51 percent of its revenue was from the sale of new boats made by Brunswick. “We believe our sales represented approximately 6 percent of all Brunswick marine sales, including approximately 31 percent of its Sea Ray boat…more

MarineMax reports 4Q results

MarineMax saw a 25 percent increase in revenue and a same-store sales increase of about 41 percent for the fourth quarter ending Sept. 30, but it reported a net loss of $33 million for the period. The company’s same-store sales increase was the first reported in more than two years, chairman, president and CEO William…more

Analyst upgrades MarineMax stock

MarineMax stock was upgraded to buy from hold by Rochdale Securities. “Cost-cutting, together with a stabilizing marine market, should enable [MarineMax] to march toward profitability in FY 2010,” senior equity research analyst Hayley Wolff wrote in her report. “This compares with a consensus that is calling for a dramatic loss.” While discounting to move non-current…more

MarineMax to close more stores

MarineMax continues to close stores in response to economic conditions and expects to have around 55 locations by October, president and CEO William McGill said in an e-mail to Soundings Trade Only. “With a market for new sales going from over 300,000 new units per year to estimates of around 130,000 this calendar year, it…more

MarineMax closes sale of common stock shares

MarineMax issued 390,000 shares of common stock at a price of $7 per share, for total gross proceeds of about $2.7 million. The issuance is a result of the full exercise of the over-allotment option to purchase additional shares granted to the underwriter in MarineMax’s public offering of 2.6 million shares of common stock announced…more

MarineMax offering common stock at $7 per share

MarineMax priced a public offering of 2.6 million shares of its common stock at a price to the public of $7 per share for total gross proceeds of $18.2 million. The net proceeds of the offering will be used for general corporate purposes, which could include debt reduction. Raymond James & Associates Inc. is serving…more

MarineMax issues public offering of common stock

MarineMax has begun a public offering of 2.6 million shares of its common stock pursuant to MarineMax’s effective shelf registration statement filed with the U.S. Securities and Exchange Commission. Raymond James & Associates Inc. will serve as the sole underwriter for this offering. The underwriter also will have the option to purchase up to an…more

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

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