Skip to main content

Coast Distribution releases 4Q, year-end report

Coast Distribution System reported a net loss of $2.3 million in its traditionally weak fourth quarter, and a net loss of $1.8 million for the full year.

Based in Morgan Hill, Calif., Coast Distribution supplies aftermarket replacement parts, accessories and supplies for the marine, RV and outdoor recreation industries.

For the quarter ending Dec. 31, the company reported a net loss of $2.3 million, or 51 cents per diluted share, on net sales of $16.9 million. For the same period of 2007, the company had a net loss of $1.5 million, or 34 cents per diluted share, on net sales of $26.7 million.

For the year ending Dec. 31, Coast reported a net loss of $1.8 million, or 41 cents per diluted share, on net sales of $132.2 million. In 2007, the company reported net earnings of $215,000, or five cents per diluted share, on net sales of $164.3.

"As expected, 2008 was extremely difficult based on the drop in sales traffic to RV dealerships, our primary customer, due to the economic recession, unstable fuel prices and lack of available financing for potential purchasers," CEO Jim Musbach said in a statement.

To control costs during this downturn, Coast reduced staffing levels by 30 percent and replaced its annual trade show with a more efficient online sales program. The company also restructured its sales department to focus more on inside sales to existing accounts.

"Looking ahead, we are expecting a challenging 2009," said Musbach. "We are closely monitoring our inventory levels, inventory turnover and sales outstanding. We believe we have the cash, financing and level of demand to weather this storm."

Click here for more.

Related

1_TRAVELIFT.COOP

Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.

1_JULY4

Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.

1_ORR.FUNDS

ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time

Norm#4

Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip

1_ASA.BOARD

ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.

1_EXEC.SEARCH

Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.

1_PULSE.PING.0630

DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.

1_PMMPODCAST

Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week