This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MarineMax Reports Third Quarter Fiscal 2012 Results

Stocks in this article: HZO

MarineMax, Inc. (NYSE: HZO), the nation’s largest recreational boat retailer, today announced results for its third fiscal quarter ended June 30, 2012.

Revenue was $151.3 million for the quarter ended June 30, 2012 compared with $153.2 million for the comparable quarter last year. Same-store sales increased approximately 1% compared with a 33% increase for the comparable quarter last year, which was partly driven by the sale of larger boats. Net income for the third quarter of fiscal 2012 increased 37% to $4.6 million, or $0.20 per diluted share, compared with net income of $3.4 million, or $0.15 per diluted share, for the comparable quarter last year.

Revenue increased 7% or $26.0 million to $387.1 million for the nine months ended June 30, 2012 compared with $361.1 million for the comparable period last year. Same-store sales increased approximately 9% on top of an 11% increase in the comparable period last year. The Company improved its net income by $8.5 million for the nine months ended June 30, 2012 to $2.7 million, or $0.12 per diluted share, compared with a net loss of $5.8 million, or $0.26 per share, for the comparable period last year. The Company’s net loss for the nine months ended June 30, 2011 was reduced by $1.4 million related to the favorable resolution of accounts receivable and inventory repurchases from a manufacturer whose brands the Company no longer carries. Without this item, the Company improved its year-over-year earnings by $9.9 million.

William H. McGill, Jr., Chairman, President, and Chief Executive Officer, stated, “The significant year-over-year improvement in our quarterly earnings is a direct result of our team’s efforts at managing expenses and the areas of our business that we can control. This, combined with the structural changes we have implemented over the last few years, is allowing us to achieve greater profits at a given revenue level. Our efforts produced our most profitable quarter since 2007. Additionally, for the nine months through June, we have produced the highest gross margin in the history of our company. Our consolidated margins continue to benefit from incremental gains in product margins as well as incremental increases in our higher margin businesses, such as finance and insurance, service and parts and accessories. Although industry trends are generally showing more positive signs, the segments of the industry in which we primarily participate continue to be challenged. However, as the entire industry recovers further, the opportunity for us to accelerate our earnings growth increases. Our strategies of teaching, servicing and showing our customers how to enjoy boating prove to be even more important during these times of generally lower consumer confidence.”

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs