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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.

Related

St. Petersburg Show Opens Thursday

The 44th edition combines with the Tampa Boat Show to create what organizers say is the largest show on the Florida Gulf Coast.

Pay To Play

When Covid restrictions were widespread, some MTAs found a new revenue stream by charging admission to previously free shows, and visitors had no problem ponying up.

Yamaha Expands F25 Line

The company added short-shaft power trim and tilt models, and two models with improved tiller handles.

MRAA Donates to Educational Foundation

The group reinvested $100,000 in donations it received to help the foundation’s effort to address workforce shortages.

TPG Adds to Marine Portfolio

The hospitality and marina management firm acquired Conanicut Marina and Taylor Point Boat Yard in Jamestown, R.I.

Trade Only Today Returns Jan. 18

The daily e-newsletter will not publish Monday, Jan. 17, in observation of Martin Luther King Jr. Day. We wish everyone a happy and safe holiday weekend.

ECONOMY REPORT: Omnipresent Omicron

The year closed with an uptick in consumer confidence, but the latest coronavirus variant threatens to derail progress