Marine Products Corp, manufacturer of the Chaparral, Robalo and Vortex boat brands, reported its fourth quarter and full 2019 financial results on Wednesday, with a softer Q4 leading to a slight overall loss for the full year.

For the quarter ended December 31, 2019 the Atlanta, US-based company reported net sales of US$48.1m, representing a 22.4% decline over the $62.0m in sales reported for the previous fourth quarter. Gross margin for the quarter was 21.8%, compared to 21.0% for Q4 2018 while operating profit of $4.1m for the period declined 30.6% year-over-year against an operating profit of $6.0m reported for the previous Q4. Net income of $3.5m declined by 25.1% over the $4.7m in net income earned during the fourth quarter of 2018.

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