"And now for something completely different."
 

DOW JONES NEWSWIRES

Fountain Powerboat Industries Inc.'s (FPB) third-quarter earnings were significantly lower and gross profit fell more than 4%, though net sales for the period were up about 11%.

The Washington company, which makes high performance boats, posted third-quarter earnings of $22,410 or nil a share, down from $360,460 or 7 cents a year earlier.

Net sales for the quarter rose to $18.5 million from $16.7 million. Gross profit fell to $2.8 million from $2.9 million.

The company said "we are not pleased with the gross profit or net income for the third quarter." It said it has hired an industry consultant to help implement "Lean Manufacturing" techniques, which have helped management and employees enhance processes in the manufacturing facility and implement best business practices.

Fountain said it expects revenue for the year ending June 30 of $77-$78 million, with net income of $1.2-$1.4 million or 25-29 cents a share.

-Judy McKinnon; 416-306-2100; [email protected]

Order free Annual Report for Fountain Powerboat Industries




....Ahh... the high cost of SBI sponsorship.

T2x

Re: "And now for something completely different."
 

18 million of sales with a profit of 22K for the quarter.....WOW :eek: :eek:


I would think of alot of easier ways to make $88K a year than making all of those boats!!!!! :D :evilb: :drink: :evilb:

Re: "And now for something completely different."
 

One more thing. I could swear that there was a press release that they (Fountain) sold 17 Million worth of boats at the Miami boat show in Feb.

What did they do, take the rest of the quarter off???? :rolleyes:

Re: "And now for something completely different."
 

Yeah,
They must have some MASSIVE Overhead $$?! :eek:
Dean

Re: "And now for something completely different."
 

When you have to hire a consultant to tell you whats wrong with the business you work and run every day....your not in a good place :cool:
:chimp:

Re: "And now for something completely different."
 

:rolleyes: Ya, that'll solve all their woes.

Re: "And now for something completely different."
 

What a great Statement ,,, I have always said that!!! How can some one else tell you ,, the owner and creator) how to make money with your own business!!! :rolleyes:

RHC

Re: "And now for something completely different."
 

They must have a ton of debt. I think I read somewhere a while back that the Mercury deal when they bought half (or whatever) of Fountain included a big loan and an option for Mercury to buy the company outright in the future.

Re: "And now for something completely different."
 

Is this a typo???? gotta be???

Re: "And now for something completely different."
 

They just need to add some beak and platform and market the boats as a foot or two longer than they are ..problem solved :drink: