Marine Products Q4 net sales rise on volume and pricing

Reuters
02/05
Marine Products Q4 net sales rise on volume and pricing

Overview

  • Fiberglass boat maker's Q4 net sales rose 35% yr/yr

  • Net income for Q4 fell 45% yr/yr due to tax impacts

  • Company ended Q4 with $43.5 mln cash and no debt

Result Drivers

  • SALES VOLUME AND PRICING - Net sales rose 35% due to a 22% increase in boats sold and a 12% price/mix increase

  • TAX IMPACT - Net income decreased due to taxes on liquidated company-owned life insurance policies

  • EXPENSES INCREASE - Selling, general and administrative expenses rose 61%, impacting net income

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

$64.57 mln

Q4 EPS

$0.07

Q4 Net Income

$2.37 mln

Analyst Coverage

  • The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release: ID:nPn1j1FPSa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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