Skip to main content

Coast Distribution 1Q results show improvement

Coast Distribution System today reported net income of $22,000, or zero cents per diluted share, for the first quarter of 2010 as compared to a net loss of $900,000, or 20 cents per diluted share for the first quarter of 2009.

That nearly $1 million year-over-year improvement was primarily attributable to increases in net sales and gross margin, and a reduction in selling, general and administrative expenses in this year's first quarter, the company said.

Coast is one of North America's largest aftermarket suppliers of replacement parts, accessories and supplies for the recreational vehicle, boating and outdoor recreation industries.

Net sales for the quarter increased by 3.9 percent to $24.1 million, compared to $23.2 million in the same quarter of 2009. Gross margin increased to 20.4 percent in the 2010 first quarter, up from 18.6 percent in the same quarter of 2009.

"The actions we implemented in response to the difficult economic and industry conditions over the last six quarters provided the foundation for the solid financial results we posted to start 2010," Coast CEO Jim Musbach said in a statement.

"Although wholesale shipments of recreational vehicles improved industry-wide in the first quarter, we believe that improvement was driven by inventory rebuilding at the dealer level rather than significantly improved retail sales," he added. "As a result, it may take more time for these factors to translate into improved sales and usage of RVs and boats, which would in turn generate better results for Coast."

Related

FUTURE-ANGLERS

FAF Brings New Anglers into the Fold

The nonprofit organization will leverage Giving Tuesday on Nov. 29 to raise funds for its grassroots fishing and boating participation efforts.

1_NAOS.YACHTS.EXPANDS

Naos Yachts Plans New Offices

The San Francisco Bay area location will expand the dealer’s midcoast footprint and help grow its Groupe Beneteau, Lagoon, Neel, CNB Yachts, Four Winns and Wellcraft brands.

1_THANKSGIVING

Trade Only Today Returns Monday

The e-newsletter will not publish Thursday, Nov. 24, and Friday, Nov. 25, in observance of the Thanksgiving holiday.

CORRECT-CRAFT-ORPHANAGE

Correct Craft Gives Back

Employees spent a day serving at the Florida United Methodist Children’s Home, impacting more than 500 kids in need.

1_GH.ELECTRIC.HOIST

GH Motion Launches All-Electric Lift

The GH70e mobile boat lift is powered by a modular solar/battery system and has a 65-ton capacity.

1_PULSE.PING

Dealers: Are You in Compliance?

A new FTC Safeguards Rule designed to protect consumers’ personal information goes into effect Dec. 9 — are you prepared?

1_NMMA-CANADA

NMMA Canada President Steps Down

NMMA Canada president Sara Anghel is leaving the recreational boating trade group after nearly 15 years of service.

1_DEALER.OUTLOOK

Ohio Ordered To Get Serious About Algae

Many are applauding a judge’s proposed consent decree that will serve as a roadmap to address western Lake Erie’s chronic algal blooms.