Marine Products Corp. reports 22 percent gain in Q3 sales

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Marine Products Corp., the parent of Chaparral and Robalo, today reported third-quarter sales of $72 million, a 21.6 percent increase over the same period a year ago. The company said net income rose 56.9 percent to $7.1 million for its third quarter, which ended Sept. 30.

The company said in a statement that it saw a 7.9 percent increase in units sold, along with a 12.6 percent increase in the average selling price per boat.

Richard A. Hubbell, Marine Products’ president and CEO, said third-quarter sales reflected a model mix of larger boats. “Unit sales of most of our product lines increased, including sales of our sterndrive models, which increased in contrast to the overall weakness of the recreational boating segment,” Hubbell said in the statement, adding that Chaparral is the largest sterndrive manufacturer in its size category, with 16.8 percent of market share.

Following its recent dealer meeting, Hubbell said the dealer base was “optimistic” about market demand next year. “Our order backlog at the end of the third quarter was higher than the same period last year,” Hubbell said. “Dealer inventories were relatively unchanged, reflecting strong retail sales levels.”