Malibu Boats today reported net sales of US$114.4m for its second quarter ended December 31, 2017, up 69.0% compared to the same period a year ago. The company’s unit volume was up 61.1% to 1,489 boats sold during the quarter. Malibu said that net sales per unit was up 4.9% to US$76,812 per boat. The company posted a net loss of US$5.6m because of new US tax reform measures enacted at the end of last year.
Malibu chief executive Jack Springer said that business is strong in the US at both wholesale and retail levels. “Canada continues its slow recovery. Australia continues to perform well for Malibu. We are also very pleased that we continue to see strong market share performance at both Malibu and Cobalt,” said Springer in a statement. “The Cobalt integration is ahead of schedule and successfully delivering efficiencies while demand for the Cobalt product remains strong. We are very pleased with our financial and operating results and believe the segment recovery will continue."
Net sales and unit volumes attributable to Cobalt were US$39.4m and 510 units, respectively, for the three months ended December 31, 2017. Net sales attributable to Malibu’s US segment increased US$6.6m, or 10.7%, to US$68.1m compared to a year ago. Net sales from the Malibu Australia segment increased US$0.8m, or 12.2%, to US$6.9m compared to the same period a year ago.