How sound is Reggie financially?
06-18-2008, 09:17 AM
#12
Gold Member
Gold Member
FPB up $0.19 on the news.
Someone once said “as goes Fountain, so goes the hi-per boat industry”
Lets see 4,361,000 shares outstanding, at $1.19/share, that’s $5,189,590 in market.
Yearly revenue $68,830,000, annual loss of ($5,046,000), sounds like it might be fun to buy out, re-structure, and turn a profit.
100 investors at $50,000 each, and we own FPB, anyone in?
Someone once said “as goes Fountain, so goes the hi-per boat industry”
Lets see 4,361,000 shares outstanding, at $1.19/share, that’s $5,189,590 in market.
Yearly revenue $68,830,000, annual loss of ($5,046,000), sounds like it might be fun to buy out, re-structure, and turn a profit.
100 investors at $50,000 each, and we own FPB, anyone in?
06-18-2008, 09:19 AM
#13
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06-18-2008, 09:22 AM
#14
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06-18-2008, 09:30 AM
#16
OSO OG
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There has been a milestone that passed about 2 years ago where things changed but I can't remember the specifics.
06-18-2008, 09:50 AM
#17
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No, Brunswick didn't buy FPB. They gauranteed a line of credit (18MM total I think) for FPB with some stipulations that included meeting specific goals for sales/profits. If they are not met then they can take control of the company and buy reggies majority out for basically nothing (I think $1MM).
There has been a milestone that passed about 2 years ago where things changed but I can't remember the specifics.
There has been a milestone that passed about 2 years ago where things changed but I can't remember the specifics.
06-18-2008, 10:08 AM
#18
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Overseas sales are key to survival right now it seems. That leaves Nor-Tech, Cig, etc. on better footing than some others. Anyone know what percentage of Fountains head across the border or ocean? I agree with focusing on P1 for overseas exposure and dropping the silly Cat Killer antics. Focus on customer service and price here in the States.
06-18-2008, 10:10 AM
#19
OSO OG
Gold Member
I don't know the numbers, but Fountain Worldwide is the international dealer and they are doing well. It is headed by Craig Wilson (a member here) and last he said they were very busy. He also drives the race boat overseas.
06-18-2008, 10:15 AM
#20
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"According to Reggie Fountain, he has been in negotiations with Brunswick Corp., owner of Baja Marine, for almost a year. “This transaction was not forced on me,” Fountain said in an interview yesterday. “All of my lawyers, bankers, and advisors have said this is a good deal for Fountain Powerboats and I’m very happy with it,” he said. "
