Brunswick Reports Q2 2010 Results
-- Total net sales of $1,014.7 million, up 41 percent versus 2009. -- Net earnings of $13.7 million, or $0.15 per diluted share, which includes $0.26 per diluted share of restructuring, exit and impairment charges and $0.02 per diluted share of expense from special tax items. -- Operating earnings of $55.7 million, a $201.1 million improvement from prior year. -- Cash totaled $619.6 million, up from 2009 year-end balance of $526.6 million. -- Increased production and wholesale shipments resulted from low beginning-of-year marine dealer inventories. "The continued successful execution of our strategic initiatives over the past several quarters was a key factor in our improved second quarter results," said Brunswick's Chairman and Chief Executive Officer Dustan E. McCoy.
Brunswick RHIB on Display in Miami
Brunswick Commercial & Government Products (BCGP), the commercial arm of Brunswick Boat Group, displayed a vessel from the company’s IMPACT line of Rigid Hull Inflatable Boats (RHIBs) at the 2016 Miami International Boat Show. The 12-meter 1200 IMPACT features quad 300hp Mercury Verado outboard engines in addition to many features that have been designed with special missions in mind. “The new, wide-beam IMPACT features a 12-foot beam allowing for inboard or outboard engine configurations as well as an integrated aluminum T-top and console outfitted with two rows of shock mitigating seating…
Boston Whaler Forms Commercial, Government Product Group
The Brunswick Boat Group has formed Boston Whaler Commercial and Government Products to better focus on these important market segments. Fred Kiekhaefer has been named president of this new operating unit. Kiekhaefer also remains president of the Mercury Racing division. Boston Whaler Commercial and Government Products also will be working closely with Mercury Marine, Mercury Racing, and Valiant rigid hull inflatables to ensure seamless boat and engine package integration. Mercury, Mercury Racing and Valiant all remain independent units of Brunswick Corporation. "When commercial operators and government agencies identify their unique operational needs…
Boston Whaler Opens New Facility
A grand opening celebration and ribbon cutting ceremony were held at the new Boston Whaler Commercial and Government Products manufacturing facility in Edgewater, Fla. The newly constructed facility encompasses 46,000 square feet under roof, on 6.3 square acres of land. The state-of-the-art facility is used to build unsinkable fiberglass boats specifically for commercial applications, including law enforcement, fire/rescue and military/combat craft and homeland security. Boston Whaler Commercial and Government Products builds boats used by virtually every branch of the United States armed forces and by law enforcement and rescue organizations around the world. Opening remarks were made by Steve Dennis, executive director of the Southeast Volusia Chamber of Commerce.
Brunswick and Transamerica Form Financial Services Joint Venture
Brunswick Corporation and Transamerica Distribution Finance announced the formation of Brunswick Acceptance Company, LLC (BAC), a joint venture between Brunswick and Transamerica. BAC will offer wholesale financing to the domestic Brunswick Boat Group and Mercury Marine dealer networks. “Over the past 10 years, many financial institutions have gotten into, and out of, marine lending. Our goal is to provide stability and to assure a source of floor plan financing for our dealers over the long term," said Brunswick Chairman and Chief Executive Officer George W. Buckley. "We're extremely pleased to partner with Brunswick in the formation of this new venture and to provide the products and services that we will jointly bring to market," said Steven J.
Meridian Debuts Updated Line in NY
Setting the scene for the premiere of the new 2003 line of Meridian Yachts, a clear, blue sky served as the backdrop at New York City's Chelsea Piers, as these new innovative, and technologically sound vessels were introduced, by Meridian's president and master of ceremonies, William J. Barrington. The vessels, which join the ranks of their elite sister companies (all governed by the Brunswick Boat Group), of Sea Ray, Hatteras, Maxum and Sealine, range in size from 34 to 58 ft. (10.3 to 17.6 m) and include the latest technological and design innovations - specifically Meridian's own unique Docking on Command (DOC) system, which allows the most novice of boaters to guide their vessel into the tightest of spaces.
New York Gala Introduces Meridian Yachts
With the New York City harbor as a backdrop, on August 8 the public got a sneak preview of the new Meridian line, which will be introduced during the 2003 model year. William J. Barrington, president of Meridian Yachts, served as master of ceremonies at the event, which was held at Chelsea Piers. Joining Barrington for the unveiling and ribbon cutting were George W. Buckley, chairman and chief executive officer of Brunswick Corporation, and Dustan E. McCoy, president of the Brunswick Boat Group. Meridian thus joins the ranks of other leading Brunswick Boat Group yacht brands, including Sea Ray, Hatteras and Sealine. The Brunswick Boat Group is a unit of Brunswick Corporation. The product lineup will include seven models ranging from 34 to 58 ft.
Brunswick Names Seeley as VP of Corporate Accounts and Distribution
Brunswick Corporation announced that William Seeley has been named vice president-corporate accounts and distribution, reporting to George W. Buckley, Brunswick’s chairman and chief executive officer. In this newly created position, Seeley will focus on building closer relationships with key partners and marketers globally, seeking ways that Brunswick can utilize its unique strengths to add mutual value through new products or services, joint ventures or other operating relationships. Seeley will also be available to the Brunswick Boat Group and Mercury Marine to help drive cross-channel, intercompany distribution of Brunswick products.
The Specialists: A Quartet of S. Louisiana Yards Builds Most U.S. Crew/Supply Boats
The area directly south of Lafayette, La., is authentic bayou country, known for Cajun culture, excellent food, unique music and, for boat lovers, the crew/supply boat capital of the world. Four boat yards in this area build these multi-engine, all- aluminum, speedy vessels, almost exclusively. Each yard turns out up to six crew/supply boats a year. In fact, three of the shipyards are located within just a few miles from each other in the tiny hamlet of Loreauville, La., a town that seems to be made up mostly of aluminum welders. That, of course, is an exaggeration, but not by much. Not every vessel delivered from these shipyards goes to work supporting the search for oil and gas…
Brunswick - Organizational Changes
Brunswick Corporation (NYSE:BC) announced several organizational changes outside of the United States to its Hatteras Collection, makers of several brands of yachts and sportfishing boats. Effective immediately, William Naumann, who retired from Hatteras in 2006, will become chairman of the Hatteras Collection where he will lead efforts to strengthen relations with dealers, customers, and suppliers. In addition, he will also be responsible for government and public affairs. James Meyer, formerly vice president -- product development, supply chain and business integration for the Brunswick Boat Group, will become president -- Hatteras Collection, replacing Keri Theophilus. Both Meyer and Naumann will report to Dustan E. McCoy, Brunswick's chairman and chief executive officer.
Brunswick: Ramping up Quality for the Long Haul
As Brunswick Commercial & Government Products expands its capabilities and product line, the Florida-based boatbuilder is positioned to safely provide increased efficiencies, and an expanded, multi-mission product line. When Brunswick Commercial & Government Products (BCGP) broke ground on a facility expansion at the company’s Florida headquarters in early May, it served notice that this well-known boatbuilder had ramped up both its delivery capabilities, and an expanded array of new hulls.
Navico to Buy BNT Marine Electronics
Navico International Ltd. agreed to acquire the marine electronics business of Brunswick New Technologies (BNT), a unit of Brunswick Corporation . Subject to regulatory approvals, this transaction, which is expected to close during March 2007, will create the world's largest supplier of marine electronics for recreational boats. Included in the agreement are the three brands MX Marine, Navman marine and Northstar. The combined businesses had revenues of USD 50 million in 2006 with primary operating facilities in New Zealand, the United States, Australia, and the United Kingdom. MX Marine has a 30-year heritage in providing high precision navigation systems for commercial and government vessels.
Brunswick Reports Q1 Results
-- Total net sales of $844.4 million, up 15 percent versus 2009. -- A net loss of $13.0 million, or $0.15 per diluted share, which includes $0.08 per diluted share of restructuring and impairment charges and $0.02 per diluted share of benefits from special tax items. -- Operating earnings of $10.1 million, a $137.6 million improvement from prior year. -- Cash totaled $552.4 million, up from 2009 year-end balance of $526.6 million. -- Low beginning-of-year marine dealer inventories led to increased production and wholesale shipments. "The successful execution of our strategic initiatives over the past several quarters was a key factor in our improved first quarter results," said Brunswick's Chairman and Chief Executive Officer Dustan E. McCoy.