Skip to main content
Updated:
Original:

Correct Craft touts 2016 model-year results

Correct Craft said the 2016 model year was the best in the company’s 91-year history.

Correct Craft said the 2016 model year was the best in the company’s 91-year history.

Correct Craft said its strategy, a combination of internal optimization and targeted acquisitions, resulted in significant growth for the model year that ended June 30, as revenue increased 47 percent and net income increased 45 percent from the 2015 model year — which the company said was its previous best year ever.

“Our team is highly energized by the growth we are experiencing and the progress we are making at our Correct Craft companies, each of which are profitable and growing,” Correct Craft CEO Bill Yeargin said in a statement.

“Even more importantly, we are thrilled with the cultural improvements we have been able to implement at each of our Correct Craft companies,” Yeargin said. “While we want to grow and be profitable, it is equally important to us that we treat people well and develop leaders while working to make life better for our customers, employees, dealers, vendors, strategic partner and people around the world who we can help.”

Correct Craft said all of its companies not only experienced growth in sales and profitability, but also undertook improvement initiatives:

  • Nautique Boats completed an $8 million expansion of its facilities and continues to increase production.
  • Centurion Boats and Supreme Boats are experiencing “significant dealer and retail growth both domestically and internationally.”
  • Pleasurecraft Engine Group has upgraded processes and the plant during the past two years.
  • Bass Cat and Yar-Craft have aligned with industry partners and seen growth in sales and profitability.
  • Aktion Parks recently announced the opening of a third cable park in Florida.
  • SeaArk, Correct Craft’s newest acquisition, is investing heavily in capital improvement to shorten its order backlog.

Related

Year-End Tax Planning Guidance

These tips can help employers maximize cash savings, minimize tax exposure and more

Mercury Marine to Open Ind. Distribution Center

The new 512,000-square-foot facility will help the manufacturer meet record consumer demand for parts and accessories. The company is also expanding production at its main campus in Wisconsin.

GM Invests $150 Million in Pure Watercraft

An interview with Pure founder and CEO Andy Rebele.

Sea Tow, Southport Boats Form “Peace of Mind” Partnership

Sea Tow’s Gold Card, which includes two years of coverage, will now come standard with new Southport models.

Yamaha Rightwaters Goes International

The conservation initiative becomes an international effort as Yamaha Motor Australia joins a cleaner-ocean campaign.

Perfect Timing

With all the new boats sold recently, it’s inevitable that a good percentage will wind up on the used market. MRAA has launched a Certified Pre-Owned Boat Program to help dealers strengthen this profit center.

A Boatbuilder in Congress?

Robert Healey Jr., of Viking Yacht Co., is running for a U.S. House of Representatives seat in New Jersey.

Monterey and Blackfin to Expand Operations

The company will add 50,000 square feet of manufacturing space to meet increased demand, creating 150 job opportunities.