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Quick Hits: July 30, 2020

The National Marine Manufacturers Association continues to monitor the reauthorization of the Sport Fish Restoration and Boating Trust Fund as lawmakers go into the August recess. The bill supports approximately $650 million a year in conservation, fishery restoration and stocking programs, as well as studies on boating access and other infrastructure. Trust fund revenue streams, spending and other facts about are available here.

The National Marine Distributors Association said in a statement that Land ‘N’ Sea president Mike Conners was elected president of its board of directors, Paxton Co.’s Jim Beale was named vice president, and Ryan Barber of CWR Distribution is secretary and treasurer chair. “Mike Conners has been an integral and active member of the board for several years,” NMDA executive director Nancy Cueroni said. “Jim Beale and Ryan Barber bring specific expertise from their outlook on the aftermarket, as well.” Each will serve two-year terms.

Orlando Business Journal reported that Merritt Island Boat Works, Ocean Alexander’s stateside production facility, would eliminate 103 positions following financial challenges and a temporary pandemic shutdown, according to a Florida Worker Adjustment and Retraining Notification letter filed earlier this month. The reduction is expected to take place in phases during September, October and December.

Patrick Industries reported a 30.8 percent second-quarter sales decrease to $424 million, primarily due to production shutdowns by OEM customers in April and May. Operating income was $12.1 million, a 73.2 percent decrease from the second quarter of 2019. The marine segment, which accounts for 14 percent of sales, had revenue of $59 million, a 34 percent drop, while powerboat wholesale unit shipments decreased about 39 percent. “Despite the ongoing uncertainty caused by the pandemic, we are optimistic about our business outlook, given the trajectory of our end markets and our flexible, highly variable cost structure,” president and CEO Andy Nemeth said.

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MARINE-CONCEPTS

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.

DEALER-WEEK

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.