Malibu Boats named Eric Bondy as its new vice president of sales and marketing.
Net sales at Malibu Boats increased 5.8 percent to $68.5 million during the company’s fiscal third quarter and net sales per unit rose 8.6 percent to $71,769.
B. Riley initiated coverage on Malibu Boats with a buy rating and a price target of $22 a share.
Malibu Boats reported a net sales increase of 9.1 percent in its second quarter, bringing in $60.5 million, compared with $55.5 million in the same period a year earlier.
Malibu Boats staff and factory personnel raised more than $7,000 for Toys for Tots and The Angel Tree Program, two charitable non-profits that provide gifts to disadvantaged children.
Malibu Boats launched its new M235, the boat the company said garnered it an invitation to the U.S. Naval Academy.
Net sales at Malibu Boats increased 20.1 percent in the company’s first quarter to $57.2 million from the quarter a year earlier and unit volume increased 22.6 percent to 825 boats.
Net sales increased 13.7 percent for Malibu Boats in its fiscal fourth quarter to $60.7 million, setting a record for the company, and unit volume increased 13.1 percent to 904 boats, including 85 from Australia.
Malibu Boats recently introduced the reinvented 2016 Wakesetter 20 VTX.
Malibu has launched a new Surf Band, saying the wrist remote gives surfers total control of their waves while surfing.