Marine Products Corp Reports Successful Q2 2012 Financial Results

Press Release
Thursday, July 26, 2012

U.S. based Marine Products Corporation release its unaudited results for the quarter ended June 30, 2012.

Marine Products is a leading manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including H2O Sport and Fish & Ski Boats, SSi and SSX Sportboats, Sunesta Sportdecks, Xtreme Towboats, Signature Cruisers and Premiere Sport Yachts, and outboard sport fishing boats by Robalo.

For the quarter ended June 30, 2012, Marine Products generated net sales of $38,454,000, a 32.2 percent increase compared to $29,098,000 last year. The increase in net sales was due to a 58.6 percent increase in the number of boats sold, partially offset by an 18.1 percent decrease in the average selling price per boat.

Gross profit for the quarter was $7,295,000, or 19.0 percent of net sales, compared to a gross profit of $4,907,000, or 16.9 percent of net sales, in the prior year. The increase in gross profit in the second quarter of 2012 compared to the prior year was the result of production efficiencies from higher production volumes.

Richard A. Hubbell, Marine Products' Chief Executive Officer stated, "Overall market conditions continued to improve during the 2012 retail selling season, and Marine Products Corporation participated in this market improvement through the successful introduction of our value-priced Chaparral H2O and Robalo models. In general, we believe that the selling conditions for our products have improved, due to moderately stronger consumer sentiment and lower fuel prices."
 


 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Finance

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1384 sec (7 req/sec)