MarineMax today reported sales of US$144.0m for its quarter ended March 31, 2012, compared to US$115.8m for the same period a year ago. Its net income was US$2.3m, compared to a net loss of US$4.5m a year ago.
The national boat retailer said that same-store sales were up 26 per cent for the quarter. Inventories decreased by 8 per cent, or about US$19m, from the previous December quarter.
“We have now put together six consecutive quarters of new boat sales unit growth, capitalizing on the improvements we have made in our business over the past few years,” said William H. McGill, Jr., chairman and CEO, in a statement. "We ended the quarter with our inventory at anticipated levels along with improved aging as we enter what has traditionally been our strongest sales period.”
McGill said he was “cautiously optimistic” that the gains in new-boat sales are “sustainable.”