Gross profit buoys MarineMax in Q1

Clearwater, Fla. – Cost of sales did not grow in pace with revenue growth during the first quarter of fiscal 2015 at MarineMax Inc., resulting in a higher gross profit that helped produce net income of $214,000. This compares to net loss of $3.36 million the same period a year earlier.



Revenue grew more than 44% to $158.1 million from $109.6 million. Same-store sales grew more than 45% on top of a 9% increase in the same period last year. Seasonally, the December quarter traditionally provides the least revenue contribution of the year and typically yields a loss for marine dealers, including MarineMax.



“We are encouraged by the progress we have made in driving sales year-over-year, and thrilled by the enthusiasm our customers are expressing for new products that are coming from our manufacturing partners,” said William H. McGill, Jr., chairman, president, and CEO. “The strength in new, and specifically larger albeit lower margin boats during the quarter, drove very strong same-store-sales growth, yielding a significant increase in revenue and a profitable quarter.”