Coast Distribution System reports 2010 results


Coast Distribution System, one of North America's largest aftermarket suppliers of replacement parts, accessories and supplies for the recreational vehicle, boating and outdoor recreation industries, today reported a 5.2 percent increase in net sales for 2010, compared with the previous year.

Net income for the year increased to $152,000, or 3 cents a diluted share, from $99,000, or 2 cents a diluted share, in 2009.

The increase was primarily attributable to a rise in net sales of $5.4 million, to $108.6 million, in 2010, from $103.2 million in 2009, as well as a reduction in expenses.

The increase in net sales was primarily attributable to the replenishment of inventories by Coast's customers in the first half of 2010 in preparation for the summer selling season and an increase in sales of air conditioners in the second half of the year as a result of a change in supplier relationships within the RV market, the company said.

Despite a 2 percent increase in sales, Coast incurred a net loss of $1.7 million, or 38 cents a diluted share, on net sales of $17.6 million in the fourth quarter of 2010, compared with a net loss of $1.1 million, or 24 cents a diluted share, on net sales of $17.3 million in the same quarter in 2009.

The larger loss was the result of a lower gross margin, combined with an increase in operating expenses and a higher tax rate, according to the company.


Patrick Industries Acquires Taco Metals

The components manufacturer had been family-owned for 60 years.

Consumers Say E15 Warning Labels Are Ineffective

A new poll shows that current branding efforts do not adequately warn consumers to the risk and legality of using the blended fuel with certain engines.

Silent-Yachts’ New Project

The Austrian solar yacht outfit will use VW’s electric drive system on a vessel to be drawn by Spanish car brand Cupra.

Industry Mourns Christopher Ramirez

A regional sales manager at Garmin, Ramirez died suddenly at age 35 last month.

Quick Hits: December 1, 2020

Freedom Boat Club announces 250th location; ShoreMaster/Hydrohoist acquires Neptune Boat Lifts; MarineMax names brand manager; and Arkansas scientists study fishing license increase.

Our Great Lakes Are Battered and Need Help

The eight-state region that accounts for one-third of annual boat sales has seen unprecedented damage from high waters. A bipartisan legislative effort looks to protect the region and its small businesses.

Boat Demand Remains Strong, But Inventory Shortages Prevail

Dealers worry that the absence of new boats is driving up prices.

Electric Boat Company Completes IPO Process

Canada-based e-mobility outfit Vision Marine raises $27.6 million to reinvest in its line of electric vessels and 180-hp, E-Motion outboard.