Malibu Boats: Fiscal 2Q Earnings Snapshot
LOUDON, Tenn. (AP) _ Malibu Boats Inc. (MBUU) on Wednesday reported fiscal second-quarter net income of $14.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Loudon, Tennessee-based company said it had profit of 68 cents. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 86 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The maker of performance sports boats posted revenue of $165.8 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $150.2 million.
Malibu Boats shares have climbed 23 percent since the beginning of the year. The stock has increased 39 percent in the last 12 months.