Skip to main content

Limestone Boat Co. Reports Q2 Earnings

1_LIMESTONE.EARNINGS

Limestone Boat Co., the Ontario-based builder of the Limestone, Aquasport and Boca Bay brands, this week released results for its second quarter, ended June 30.

Limestone reported revenues for the quarter totaling CAD$4.37 million (US$3.33 million), a 16 percent increase from the prior-year quarter. First-half revenues totaled CAD$8.13 million (US$6.2 million), and gross margins improved by 4.4 percent versus the year-ago quarter, the company said in an earnings statement.

The builder incurred an operating loss of CAD$4.95 million (US$3.78 million) in the first half of 2022. It reported that unit production decreased to 38 units in the second quarter, largely driven by supply-chain challenges.

The company said in the statement that a recent $6 million credit infusion “will allow the transformation of its manufacturing capabilities through the expansion and reconfiguration of select production spaces, integration of additional technology, expansion of large boat production capacity, and enhanced manufacturing process flow.”

Related

BOB-CONFERENCE

MMTA Sets Date for Conference

The educational Business of Boating Conference will be held in Foxboro, Mass., with in-person and remote attendance options.

AKZONOBEL

AkzoNobel Nominates Board Member

Ben Noteboom is expected to be elected chair to succeed the retiring Nils Andersen.

MARINE-MARKETERS

Neptune Awards Adds Category

“Boat Show Marketing” will recognize promotional efforts for shows, and entries will be accepted until Dec. 18.

WOMEN-SAILING

Sailing Convention for Women Returns

Postponed during Covid, the event will include on-water training, networking opportunities and workshops.

Norm

MBIA Names Board Members

The Michigan Boating Industries Association elected four new directors and named the officers who will serve next year. Also, the 2023 schedule for “Ladies Let’s Go Fishing!” is taking shape.

CL.YACHTS

CL Yachts Expands Dealer Network

The Hong Kong-based builder added retail locations in Australia, Dubai, Singapore and Macau.

LEGEND.BOAT.FIX

Legend Boats Partners With Boat Fix

The Canadian builder will offer the telematics system, which provides tracking, monitoring and 24-7 service, on new models starting next year.

MARINEMAX

MarineMax Establishes Technology Division

The company’s Boatyard and Boatzon units will operate under the new entity, New Wave Innovations.

SUNTEX

Suntex Purchases New Jersey Facility

Green Cove Marina in Brick is the company’s latest acquisition on the Jersey Shore, joining Channel Club Marina and Key Harbor Marina.