Skip to main content

Coast Distribution reports 4Q, year-end results

Coast Distribution System recently reported a net loss for the fourth quarter of 2009, but an overall profitable fiscal year.

Coast - one of North America's largest aftermarket suppliers of replacement parts, accessories and supplies for the vehicle, vessel and outdoor recreation industries - reported an increase in sales and a significantly reduced net loss in the fourth quarter of 2009 as compared to the same quarter of 2008.

The net loss for the fourth quarter of 2009 was $1.1 million, or 24 cents per diluted share, on net sales of $17.3 million. For the same period of 2008, Coast reported a net loss of $2.3 million, or 51 cents per diluted share, on net sales of $16.9 million.

For the full year ending Dec. 31, 2009, Coast reported net earnings of $100,000, or 2 cents per diluted share, on net sales of $103.2 million. This compares with a net loss of $1.8 million, or 41 cents per diluted share, on net sales of $132.2 million in 2008.

"Given the adverse economic and industry conditions in 2009, we are pleased with our results for the quarter and full year," Coast CEO Jim Musbach said in a statement. "Driving our return to profitability were improved operating margins, which were the result of the combined impact of an improved product mix as well as our efforts over the last year to reduce costs and create a leaner organization.

"Looking ahead, it is our plan to capture additional market share to offset expected declines in net sales resulting from the recessionary conditions and limited credit availability we expect will continue throughout 2010," he added.

Coast supplies more than 12,000 products through 17 distribution centers in the U.S. and Canada. Most of Coast's customers consist of independently-owned RV and marine dealers, supply stores and service centers.

Related

Eager Anticipation

The industry awaits the debut of the integrated Discover Boating Miami International Boat Show

Multihull Mover

With two new 28-foot models, Aquila continues to maximize the presence of power catamarans in the broader marketplace

A New Space Jam

Boaters want bigger, more powerful multifunction displays, and designers are innovating to meet the demand

Nothing but Net

The SeaPen portable dry dock makes storage easier for the increasing number of outboard-powered boats

Upgrading a Marina Management System

Technology can help streamline marina operations, increase revenue and optimize the guest experience

High-Tech Vision

The latest advancements in low-light cameras make it safer to navigate when visibility wanes

Q&A with Çağın Genç

Sirena Marine CEO Çağin Genç takes our questions.

The New Rush To Repair

Dealers and marinas in supply-chain limbo for new parts and boats are turning to on-call services that fix everything from vinyl to engines