Originally Posted by Hacker

At 72 years old and $20k a month he couldnt swallow his pride? Genius. That's what investors want to put money in, an egomaniac 72 year old that looks like hell..............and those kids of his, there's some apples that fell far from the tree.......

Originally Posted by 28 V

You can check the financials below at your leisure...at least until the company was delisted. Perhaps everyone will find a "snapshot" of late 2008 useful and draw your own conclusions. If not I apologize . Assume 2009 was more of the same..

SEC filings reveal a company with shrinking sales and heavy SG&A costs of about 11% that absorbed most of the available gross profit margin (even in good years ) of about 12-16%. Net profit margin in 2008 was -3%, 2007 -7% and 2006 at 3%.
http://www.sec.gov/Archives/edgar/da...6/fount10q.htm

Selling expense – Selling related expenses were $2,027,578 for the six months ended December 31, 2008, as compared to $2,895,272 for the six months ended December 31, 2007, a reduction of $867,694 or 30%. The decrease was primarily attributable to marketing and sales staff reductions and the reduction of expenses related to the Company’s support of off-shore racing and fishing programs, advertising and promotion expenses and sales force expenses.

Cash consumption accelerated as inventory built.....

The use of cash attributable to Operating activities in the current period, $2,342,338, is primarily attributable to:
Net loss of $3,096,816, generated by the ongoing operations of the Company. Net loss reflects non-cash depreciation expense of $1,323,618 during the period.

Inventories increased $534,995. This use of cash is due, in part, to building a stock of boats at the Company’s retail subsidiary, Fountain Dealers’ Factory Super Store.

Gross profit – Gross profit for the six months ended December 31, 2008 was $1,187,226, 5.1% of net sales, as compared to $4,920,857, 14.8% of net sales, for the six months ended December 31, 2007. The decrease in gross profit is primarily attributable to reduced fixed cost absorption because of lower volume of sales.

General and administrative expenses – General and administrative expenses were $1,670,796 for the six months ended December 31, 2008, as compared to $1,834,192 for the six months ended December 31, 2007. The decrease was primarily attributable to salary and staff reductions.

http://www.hoovers.com/company/Fount...-1-1njea5.html

Fountain Powerboat Industries, Inc. Income Statement
All amounts in millions of US Dollars except per share amounts.
Jun 08 Jun 07 Jun 06
Revenue 68.2 68.8 79.2
Cost of Go 58.8 59.7 66.2
Gross Profit 9.4 9.1 13.1
Gross Margin13.8% 13.2% 16.5%
SG&A Expense 10.5 11.9 10.8
Depreciation 2.4 2.3 2.1
Operating Income (1.1) (2.7) 2.3
Operating Margin -1.6% -4% 2.9%
Nonoperating Income (0.1) (0.0) (0.0)
Nonoperating Expenses -- -- --
Income Before Taxes (2.2) (3.8) 1.1
Income Taxes -- 1.3 (1.3)
Net Income After Taxes (2.2) (5.0) 2.4
Continuing Operations (2.2) (5.0) 2.4
Discontinued Operations -- -- --
Total Operations (2.2) (5.0) 2.4
Total Net Income (2.2) (5.0) 2.4
Net Profit Margin -3.2% -7.3% 3%

salaries http://www.hoovers.com/company/Fount...-1-1njea1.html

Originally Posted by Hacker

At 72 years old and $20k a month he couldnt swallow his pride? Genius. That's what investors want to put money in, an egomaniac 72 year old that looks like hell..............and those kids of his, there's some apples that fell far from the tree.......

Originally Posted by Fast Shafts

I feel sorry for all of the investors who took a hit. Anyone who has owned stock in a company to watch it squanderd away will understand. Even as the stock became a "penny stock" Fountain boats inc. were pissing away money on racing. Remember the old saying: How do you make a million dolars boat racing? Start with 2 million. Just like many other high profile boat companies, the owner pissed away the shareholders money. Yes Reggie was/is a successful builder, but at whose expense?-the shareholders. The sad part is that when Reggie starts a new company, there will be many who will purchase stock ignoring his business history.

Originally Posted by Rattlesnake Jake

WOW. what a DOUCHE. Who the he!! are you to make a statement like that. Like you know everything about him and his family.

Old saying, "Please engage mind before putting mouth in gear"

Originally Posted by Hacker

At 72 years old and $20k a month he couldnt swallow his pride? Genius. That's what investors want to put money in, an egomaniac 72 year old that looks like hell..............and those kids of his, there's some apples that fell far from the tree.......

Originally Posted by thirdchildhood

Agreed. His f*cking family is here. How about showing a little respect or at least expressing your opinion in a civilized manner. While Fountain Powerboats lost a lot of their mystique no one can deny that back in the early days they were THE boat to have. Maybe Reggie stuck it out too long when he should have pulled a Don Aronow sooner but I still respect Mr. Fountain. And I will never forget my first ride in an off-shore boat which was in the early 80s (I think) in an original Fountain Executioner.

Originally Posted by Hacker

At 72 years old and $20k a month he couldnt swallow his pride? Genius. That's what investors want to put money in, an egomaniac 72 year old that looks like hell..............and those kids of his, there's some apples that fell far from the tree.......

Originally Posted by Reggie Fountain

I CANT WAIT FOR 2011! ITS GONNA BE A GREAT YEAR!