MasterCraft reported lower fourth-quarter net sales, but increases in profit and gross margin.
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.
The 2016 “Real Wake Driven by MasterCraft” video series is expected to appear today at XGames.com and on ABC-TV on July 30.
Zane Schwenk, who has been a pro rider and product developer for MasterCraft boats for more than 20 years, is shifting his role in the company so he can focus on a family business.
MasterCraft introduced its 2017 model-year boats with new features, its new Dockstar technology and customizable options on all product lines including entry-level NXT Series, the XT Series, the X Series, and the STAR Series.
MasterCraft unveiled its new Dockstar Handling System, which the company said enables boat drivers of any ability level to drive in reverse and more easily navigate tight docks and crowded marinas.
Building on last year’s inaugural MasterCraft Throwdown, MasterCraft Boats announced plans to expand the platform from a single competition into a summer-long event series.
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.