klaw

wow $0.61 a share Down 12%

How long can they keep this up until banks step in.

Everybody knows I am a Cig guy but this will be a shame for the industry if they turn turtle.

FloridaDan

Reggie told Soundings Trade Only in an article today that he is optimistic about his company’s financial strength and future prospects.

Fountain said sales in the fourth quarter will be up compared to the year-ago comparable quarter, and will make up for the sales deficit reported in the 2008 third quarter. Overall, he said, the fiscal 2008 sales volume will be about the same as the previous year.

And, he added, “operating profit has improved dramatically this year over last year.”

Fountain also was upbeat as he discussed expectations for the Baja brand that the company recently purchased from Brunswick Corp.

“There is a lot of pent-up demand for Baja because nobody has been building them for the last six months,” said Fountain. “Dealer inventory is down. We have received hundreds of orders for Baja from all over the world.

“Baja merging with Fountain gives us hope for the coming year,” he added.

http://www.tradeonlytoday.com/ME2/di...3ACE6252246694

seafordguy

REALLY? I would have been a little more objective - Has he looked at his Balance Sheet or P&L?

3/31/2008

Current Liabilities of 32M and Current Assets of 15M - lnventory looks to be piling up in accordance with AP increases but no significant turn to receivables. I am guessing AP is piling up due to the company being maxed out on the Cerdit Line (hence the huge S/T debt numbers as that is obviously called within a year from everything we have read).

GP of 8% with an EBIT loss of 12% last quarter - that isn't the way out of a hole unfortunately. Hopefully his April 1 - June 30 figures look better due to seasonality.

I would certainly be concerned. Some money needs to be generated and the U.S. economy, specifically the HP boat market, isn't getting better.

I will agree with KLAW - I am a Cig guy and will never own a Fountain but it would be a shame to see an established name bow out from the economic downturn.

McGary911

Closed at .65 down a nickel...........on a volume of only 700...

At least Oil was only up a penny to 136.05, right?

erol827

i comment Reggie's spirit, but he has to face reality.

DollaBill

Thats where the winners come through. I'm not saying they are or are not going down, but more times than not it's the "NEVER GIVE UP" mentality that pulls a business, or an army for that matter, out of disaster.

I've been through it. When things can't get any worse and everything is coming apart at the seems in the 11th hour...............an attitude of "Phuk 'Em" can sometimes make the diff.

I hope, for the industry, it works out for the better

Steve_H

he can always cash in his gold jewelry in order to stay afloat

copiercat

if fountain goes belly up, what would we have to call that ,cat killer killed?

Cash Bar

Kitty Litter learns to play dead.......and stays that way.

ReggieRaft

Why do you find a business in trouble funny ?