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MarineMax Inc. Reports Operating Results (10-K)

December 11, 2012 | About:
10qk

10qk

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MarineMax Inc. (HZO) filed Annual Report for the period ended 2012-09-30.

Marinemax, Inc. has a market cap of $195.8 million; its shares were traded at around $8.23 with a P/E ratio of 206.5 and P/S ratio of 0.4.

Highlight of Business Operations:

General economic conditions and consumer spending patterns can negatively impact our operating results. Unfavorable local, regional, national, or global economic developments or uncertainties regarding future economic prospects could reduce consumer spending in the markets we serve and adversely affect our business. Economic conditions in areas in which we operate dealerships, particularly Florida in which we generated 54%, 50%, and 49% of our revenue during fiscal 2010, 2011, and 2012, respectively, can have a major impact on our operations. Local influences, such as corporate downsizing, military base closings, inclement weather, environmental conditions, and specific events, such as the BP oil spill in the Gulf of Mexico, also could adversely affect our operations in certain markets.

Revenue. Revenue increased $43.6 million, or 9.1%, to $524.5 million for the fiscal year ended September 30, 2012 from $480.9 million for the fiscal year ended September 30, 2011. Of this increase, $53.0 million was attributable to an 11% increase in comparable-store sales, which was partially offset by a decline of $9.4 million related to stores opened or closed that were not eligible for inclusion in the comparable-store base for the 12 months ended September 30, 2012. The increase in our comparable-store sales was due to incremental increases in new boat sales, partly attributable to new brands we have expanded with, and incremental increases in used boat sales, brokerage services, F&I products, service, parts and accessories. Improving industry conditions resulting from improved economic conditions contributed to our comparable-store sales growth.

Revenue. Revenue increased $30.6 million, or 6.8%, to $480.9 million for the fiscal year ended September 30, 2011 from $450.3 million for the fiscal year ended September 30, 2010. Of this increase, $34.3 million was attributable to an 8% increase in comparable-store sales, which was partially offset by a decline of $3.7 million related to stores opened or closed that were not eligible for inclusion in the comparable-store base for the 12 months ended September 30, 2011. The increase in our comparable-store sales was due to an increase in new boat sales, offset by a decline in used boat sales, because less used boats were available for sale for most of fiscal 2011 compared with fiscal 2010. Our retail sales continue to be adversely impacted by the ongoing economic pressure on our industry.

Read the The complete Report

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