Marine Products Q4 net sales rise on volume and pricing

Reuters

Feb 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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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.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}