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Quick Hits: April 28, 2020

Caterpillar reported a 21 percent decrease in sales and revenue for the first quarter and a 39 percent decline in profit-per-share. The company has suspended operations at some facilities due to supply-chain issues, weak customer demand or government regulation.

Polaris reported a 6 percent drop in sales in the first quarter and a net loss of $5 million. “The rapid decline in retail demand over the last two weeks of March, driven by the covid-19-related economic slowdown, significantly impacted sales and gross profit for the first quarter of 2020,” the company said in a statement.

West Marine is working with researchers to convert snorkel masks into respirators for hospitals and others in health care. “We kept seeing reports of scuba masks with the potential of being adapted into respirators, and we realized this was a real possibility to do our part during this pandemic,” CEO Ken Seipel said in a statement. The company said the devices will be distributed in the next few weeks.

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Marine Concepts Names Chief Executive

Industry veteran Terry McNew had a long tenure at MasterCraft, where he led the company through its initial public offering.

CED-MARINE

CED Marine Adds Sales Manager

Mark Sullivan previously spent more than 15 years at Navico and will cover the Southeast.

BWI-CONTEST

Writing Contest Open for Entries

Boating Writers International’s annual competition recognizes achievements in marine journalism, photography and videography.

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MRAA’s Dealer Week Opens Tomorrow

The annual conference includes more than 20 educational sessions to help dealers adapt to the changing marketplace.

CRUISERS

Industry Mourns Cruisers Yachts Owner

K.C. Stock, who was 84, was known for his “commitment to the employees at Cruisers Yachts.”

GRANDBANKS

Grand Banks Purchases Florida Property

The parcel, which is opposite the company’s Stuart yard, has berths for up to nine boats and will increase service capabilities.

LIMESTONE-Q3

Limestone Boat Co. Posts Q3 Results

Unit production was down compared with the second quarter, and revenues decreased 33%.

SIREN-YAMAHA

Yamaha Dealers Now Carry Siren Systems

Siren Marine’s “Connected Boat” technology can be purchased and installed at more than 2,100 Yamaha outboard dealers.

Northpoint

Northpoint Expands Marine Presence

Northpoint Commercial Finance has partnered with Elite Recreational Finance to offer retail financing.