MarineMax today reported a decline in same-store sales for the quarter and the fiscal year, and a net loss for the fiscal year of more than $134 million. Revenue for the quarter was $165.6 million, compared to $318.2 million for the comparable quarter last year. Same-store sales declined approximately 45 percent compared to a 1…more
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
MarineMax will release its fourth quarter and fiscal 2008 financial results prior to the market open Nov. 11. The Clearwater, Fla.-based company will hold a conference call to review results at 10 a.m. (EST) that same day. Click here for information on accessing the call.
Garmin Ltd. said today that total revenue for the third quarter ending Sept. 27, was $870 million, up 19 percent from $729 million in the same period of 2007. In the marine segment, however, revenue decreased 8 percent to $44 million in the third quarter of 2008. Garmin reported diluted earnings per share of 82…more
Marine Products Corp., manufacturer of Chaparral and Robalo boats, this morning announced a decline in sales for the third quarter, which ended Sept. 30. For the quarter, Marine Products reported net sales of nearly $31.6 million, a 39.8 percent decrease compared to net sales of nearly $52.5 million in the same period last year. The…more
West Marine today reported a moderate decrease in sales and profits for the third quarter ended Sept. 27. Sales for the quarter were $180.2 million, compared to $188.4 million in the same period 2007, or a drop of 4.3 percent. Comparable store sales were down 4.7 percent. Adjusted net income was $4.8 million and 23…more
Brunswick Corp. today reported a 22 percent drop in net sales, driven by a 28 percent decline in marine sales. “These are tough times,” chairman and CEO Dustan McCoy said this morning in a conference call. “The marine market in the United States is becoming increasingly challenging due to difficult economic conditions, financial market upheaval,…more
Caterpillar Inc. reported record third-quarter sales and revenues of nearly $13 billion, 13 percent higher than the $11.4 billion reported in the 2007 quarter. “We are pleased to have set a new third-quarter sales and revenues record, particularly considering the recessionary conditions in North America and growing weakness in Europe and Japan,” chairman and CEO…more
Twin Disc of Racine, Wis., reported a 1.3 percent decline in sales and a 51 percent drop in net earnings for the 2009 fiscal first quarter, which ended Sept. 26. The company had sales of $72.7 million in the recent quarter, compared with $73.6 million in the year-ago period. Demand in the commercial marine and…more
In advance of releasing its fourth-quarter and year-end results next month, MarineMax is reporting an expected net loss per share of between 58 cents and 68 cents for the fourth quarter. This compares to net earnings per diluted share of 35 cents in the same quarter of 2007. The company also expects to report fiscal…more
Fountain Powerboat Industries said this morning that a recent auditor’s opinion raising concerns about the company’s finances is a “formality.” “This is the second year in a row we’ve had a net loss,” Irving Smith, Fountain CFO, told Soundings Trade Only this morning. “Based on that, the auditor is required to put a going concern…more