Defender Industries renews profit-sharing program - Trade Only Today

Defender Industries renews profit-sharing program

Author:
Publish date:

For the sixth consecutive year, Defender Industries shared its profits with employees through its "Share the Success" program, in which thousands of dollars in cash was given out as a reward for results achieved during the previous year.

On average, employees of the Waterford, Conn.-based boat equipment supplier received nearly an extra week’s pay.

Defender’s 2011 sales were the best in its 73-year history, marking the 10th consecutive year of significant growth and a new record for the eighth year in a row. Our people make this happen — they deserve to be rewarded and have their accomplishments recognized,” president and co-owner Stephan Lance said in a statement.

Executive director Al Knupp said employees get to choose how they would like to receive their share. In addition to the cash, options include any combination of extra paid time off, pretax contributions to either their 401(k) retirement account or health savings account, or as bonus pay.

“Sales are already off to a great start so far this year. I’m confident 2012 will be another great year for our staff, our customers, our suppliers and our company,” Knupp said.

Related

An eBay for yachts?

While there’s no “buy it now” button, organizers of BoathouseAuctions.com say the website provides a new sales channel for brokers.