MasterCraft, founded in 1968, builds ski, wakeboarding and performance boats in Vonore, Tenn. It was bought by MCBC Hydra Boats, a subsidiary of Wayzata Investment Partners, in 2009.
Sales totaled $57 million for MasterCraft in its third quarter, an 11.6 percent increase from the same period year earlier, excluding the terminated Hydra-Sports manufacturing contract, because of a gain in unit volume of 49, a 7.5 percent increase from the previous year.
MasterCraft displayed its new NXT20 Global Edition to the public for the first time during the 2016 New York Boat Show.
MasterCraft said it accepted the resignation of chief operating officer Shane Chittum, effective April 1.
MasterCraft went public last July and a financial analyst says the company is the most attractive of the 13 companies he covers in leisure space, including Brunswick, Malibu and MarineMax.
MCBC Holdings, the parent of MasterCraft Boat Co., said today that its board authorized share repurchase activities using a portion of the company’s growing cash balance.
Net sales increased 12.2 percent for MasterCraft in the second quarter, excluding the terminated Hydra-Sports manufacturing contract, and total net sales rose 4.5 percent to $55.2 million.
MasterCraft Boats was named one of the 2015 IndustryWeek Best Plants, an award that honors operational excellence at manufacturing facilities across North America.
MasterCraft Boat Co. was named a finalist in the IndustryWeek Best Plants awards competition for the second year running.
MasterCraft unveiled the new X26, the latest addition to its 2016 boat line.
MasterCraft CEO Terry McNew rang the closing bell on the Nasdaq on Friday, celebrating the Tennessee-based boatbuilder’s initial public offering.