Skip to main content

Marine Products Corp. reports 2Q results

Marine Products Corp., the builder of Chaparral and Robalo boats, today announced a 9.8 percent increase in net sales in the second quarter, generating $42.2 million this year, compared with $38.5 million last year.

The Atlanta-based builder also said it expects to introduce its new recreational jetboat line late in its 2014 model year.

The sales increase was attributable to an 8.1 percent increase in the average gross selling price per boat, partially offset by a decrease of less than 1 percent in the number of boats sold, the company said.

Average selling prices per boat increased during the quarter because of a model mix that included higher sales of larger Chaparral H2O and value-priced Robalo models, as well as the larger Chaparral SSX Sportdecks.

The company said net income for the quarter, which ended June 30, was $1.9 million, or 5 cents a diluted share, compared with $2.2 million, or 6 cents a diluted share, in the same quarter a year earlier.

“Our financial results for the second quarter of 2013 reflect a strong market reception to our 2013 models in the context of a challenging retail selling environment,” Marine Products CEO Richard Hubbell said in a statement. “While our consolidated unit sales were flat, compared to last year, sales of our largest value-priced Robalo and Chaparral H2O models were strong and we continued to generate strong sales of our redesigned SSX Sportdecks. Also, we are pleased to report additional market-share gains in the boat segments in which our Chaparral sterndrive products compete.”

Data reported by Statistical Surveys show that during the three months that ended March 31, Chaparral’s share of the 18- to 35-foot sterndrive market grew 13.9 percent, compared with 11.6 percent during the same period of in 2012, giving Chaparral the second-largest position in the segment, Hubbell said.

“The overall retail selling season was not as strong as many in our industry had expected, so the appeal of our products to our dealer network and retail customers was an important catalyst for our financial results,” Hubbell said.

Click here for the full release.

Related

1_RIGHWHALES

Industry Pushes Back Against Speed Restrictions

A NOAA Fisheries proposal would restrict boats 35 feet and larger to a 10-knot speed limit along the East Coast to protect right whales from vessel strikes.

4_MAGONIS

Magonis Opens Connecticut Office

The Spain-based, electric-boat builder offers an 18-footer that’s available with motors from Torqeedo and Mag Power.

01_YOUTH.FISHING

Bill Seeks to Increase Youth Fishing

The bipartisan Coastal Fishing Program Act of 2022 would ease barriers to accessing the outdoors in underserved communities.

Norm

Fall Is in Full Swing

With the autumnal equinox ushering in a new season today, the fall boat-show circuit is in high gear. Here are some recent reports and a look at what’s to come.

3_MANUFACTURER.CONFIDENCE

Manufacturer Confidence Drops

Still, U.S. builders remain largely optimistic despite ongoing constraints with the supply chain and workforce, as well as yesterday’s interest rate hike.

1_TEMO.DEFENDER

Defender Adds TEMO Electric Boat Motor

Defender Industries is the official U.S. dealer for the French company’s lightweight, portable electric motors.

2_TWIN.DISC.BELGIUM

Twin Disc Sells Belgium Facility

The transmission manufacturer is still using the facility in a leaseback transaction as it looks to reduce costs.