Like Tree0Likes

Fountain earnings

Reply
Old 09-18-2003, 11:17 AM
  #1
TulsaLarry
Guest
 
Posts: n/a
Default Fountain earnings

WASHINGTON, N.C. (Dow Jones)--Fountain Powerboat Industries Inc. (FPWR)
swung to a profit in fiscal 2003 as its gross margins rose to 16.2% from 2.6%
a year ago.
In a press release Thursday, the boat maker attributed the margin growth to
improved sales volume, a more profitable product mix and efficiency
improvements in manufacturing.
The company had net income of $479,353, or 10 cents a share, for the year,
compared to a fiscal 2002 loss of $7 million, or $1.49 a share.
Sales during the year ended June 30 rose 42% to $52.6 million from $37
million a year ago.
The company cited a reduction of dealer inventory in 2002, an improving
economy, competitive pricing, product diversification, and an aggressive
marketing campaign for the sales rise.
Shares of Fountain Powerboat recently traded down 23 cents, or 6.3%, to
$3.41.
Officials at the company weren't available on Thursday to provide
fourth-quarter figures. The company's facilities, which are based on the coast
of North Carolina, are completely shut down in preparation for Hurricane
Isabel.

(MORE) Dow Jones Newswires
09-18-03 1113ET
 
Reply With Quote
Old 09-18-2003, 11:27 AM
  #2
Registered
 
HyperBaja's Avatar
 
Join Date: Sep 2002
Location: Lewis Center, Ohio
My Boats: 1990 Baja 190 DSR
Posts: 3,606
Default

Anyone know any other boat companies on the stock market?
HyperBaja is offline  
Reply With Quote
Old 09-18-2003, 11:56 AM
  #3
Registered
 
Peconic's Avatar
 
Join Date: Oct 2002
Location: Quogue, NY
My Boats: 2003 290 Kryptonite
Posts: 2,907
Default

Brunswick comes to mind ....
Peconic is offline  
Reply With Quote
Old 09-18-2003, 01:50 PM
  #4
TulsaLarry
Guest
 
Posts: n/a
Default

Fountains latest 10K is now on file with the SEC:

http://www.sec.gov/Archives/edgar/da...-03-000052.txt
 
Reply With Quote
Old 09-18-2003, 03:52 PM
  #5
Registered
 
Peconic's Avatar
 
Join Date: Oct 2002
Location: Quogue, NY
My Boats: 2003 290 Kryptonite
Posts: 2,907
Default

The profits are mediocre (slashed R&D in half for it ..) but the topline sales growth is amazing. Contradicts everything that supposedly has happend in this little industry. Called some of my Wallstreet friends and they are baffled. In one voice, they say: "Where do these numbers come from?"

There I thought everybody stopped buying boats, especially the performance type. But according to these numbers, everybody suddenly bought Fountains.
Peconic is offline  
Reply With Quote
Old 09-18-2003, 04:20 PM
  #6
Drive to arrive alive!!!
Platinum Member
 
WARPARTY36's Avatar
 
Join Date: Apr 2002
Location: E DOCK GLOC, OK
My Boats: 2014 Cigarette 39 GTS
Posts: 3,694
Default

That is great, but from what I have seen there quality has suffered because of it.
WARPARTY36 is offline  
Reply With Quote
Old 09-18-2003, 05:14 PM
  #7
Registered User
 
BAJA WILL's Avatar
 
Join Date: Feb 2001
Location: Tampa, Indian Shores Beach
My Boats: Don't even mention the word boat
Posts: 3,300
Default

I second what FormulaFastec said.

During the Miami boat show this past feb, at the Fountain booth they said they where moving allot of CC.

My only complaint is that Fountain has spent soo much in R&D for these cabin cruisers. I think it was a bad decision, Fountain would have been better off moving into the Cat market than cruisers????? People buy Fountain for performance not a large cabin cruiser. Thats like making a Corvette mini van??

WILL
BAJA WILL is offline  
Reply With Quote
Old 09-18-2003, 05:28 PM
  #8
Registered
 
Peconic's Avatar
 
Join Date: Oct 2002
Location: Quogue, NY
My Boats: 2003 290 Kryptonite
Posts: 2,907
Default

Fountain unit sales, 2003 over 2002, as per 10K


2003 2002

Sport boats 198 115
Wide Beam Fish 69 44
Wide Beam Cruisers 29 21
Sport fishing boats 89 48
Other 3 3
Peconic is offline  
Reply With Quote
Old 09-18-2003, 06:42 PM
  #9
GLH
Platinum Member
Platinum Member
 
GLH's Avatar
 
Join Date: Dec 2002
Location: Burlington, VT
My Boats: Azimut
Posts: 15,267
Default

I'd say they found new ways to R&D!
Attached Thumbnails
Fountain earnings-crash.jpg  
GLH is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
TulsaLarry
General Boating Discussion
2
02-10-2004 12:14 PM
TulsaLarry
General Boating Discussion
2
05-09-2003 09:45 AM
TulsaLarry
General Boating Discussion
1
02-12-2003 04:33 PM
TulsaLarry
General Boating Discussion
2
10-25-2002 12:27 PM
TulsaLarry
General Boating Discussion
32
10-02-2002 07:27 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 11:08 PM.


Copyright 2011 OffShoreOnly. All rights reserved.