Fountain Powerboat Earnings
 

Looks like sales are continuing to increase. Good news for the boating industry.

05/08 12:07P (DJ) PRESS RELEASE: Fountain Powerboat Reports 3Q Results>FPWR
Story 6791 (FPWR, I/ENT, I/MRE, I/REC, I/REQ, N/DJIN, N/DJN, N/CAC, N/CNW...)
WASHINGTON, N.C.--(BUSINESS WIRE)--May 8, 2003--Fountain Powerboat
Industries, Inc. (NASDAQ: FPWR), the leading manufacturer of high performance
sport boats, fish boats, and express cruisers, announces results for the third
quarter ended March 31, 2003.
Net sales for the quarter were $12,783,311 up from sales of $10,739,593 for
the third quarter of fiscal 2002. Net sales for the nine months of fiscal 2003
ending March 31, 2003 were $37,799,524 up from sales of $25,669,980 for the
same nine months of fiscal 2002, which exceeds net sales for the entire fiscal
year of 2002.
Operating income before other expenses and deferred tax expense for the
quarter was $184,400, providing the third consecutive quarter with operating
profit. Operating profit for the nine months was $1,647,179, resulting in
operating earnings per share of $.35.
Fountain Powerboats' net operating loss carry-forward will exempt the
Company from incurring tax payments on its 2003 income. Earnings per share for
the nine months, ending March 31, 2003, after non-operating expenses and
before deferred taxes are deducted is $.19. As announced in our earlier press
release, on this basis the Company expects to exceed projections of $.27 per
share for earnings after non-operating expenses and before deferred taxes for
fiscal 2003 ending June 30. Net earnings per share for the nine months ended
March 31, 2003 was $.10 per share.
President and CEO, Reginald Fountain says, "The primary focus of Fountain
Powerboats continues to be growth and profitability, as is evinced by the
results of the first three quarters of fiscal 2003. Continued sales
improvement and cost reductions should provide the Company a profitable fourth
quarter and profitable fiscal 2003."

CONTACT: Fountain Powerboat Industries, Inc.
Irving L. Smith, 252/975-2000

KEYWORD: NORTH CAROLINA
INDUSTRY KEYWORD: SPORTS MANUFACTURING EARNINGS
SOURCE: Fountain Powerboat Industries, Inc.

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(END) Dow Jones Newswires
05-08-03 1207ET
Additional Codes ( N/DJWB, N/DJWI, N/ERN, N/PRL, N/TPCT, M/CYC, M/NND,
M/TPX, R/NC, R/NME, R/US, R/USS)

How much has that stock moved since your post last year about it being attractive? I 'shouda woulda' but didn't buy any then. Still thinking about adding some boating related stock to my 401(201)fund. Thanks Larry, Bill ;) :D :D

Fountain last reported on 3/24 PM, the stock closed @ 3.60 on 3/25, it topped @ 4.80 on 4/28 and is currently bid 3.89 ask 4.03.

FPWR L - 3.88 Chg -0.07 B O 3.89 A P 4.03 S 4x1 V 4800 S BTC 0
O 9:34 Opn 3.90 H 3.97 Lo 3.60 AH 4.80 AL 1.15 LTV 300
C 3.95 EPS -1.01 PE NA Div 0.00 Yld 0.00 Ex **/**/**
Bta 0.70 %Chg -1.77 CE NA FPE NA Dow Rtr FC Cap 0.018


FOUNTAIN POWERBOAT INDS I