Malibu Boats: Fiscal 1Q Earnings Snapshot
LOUDON, Tenn. (AP) _ Malibu Boats Inc. (MBUU) on Tuesday reported fiscal first-quarter profit of $11.3 million.
The Loudon, Tennessee-based company said it had net income of 54 cents per share. Earnings, adjusted for one-time gains and costs, were 67 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The maker of performance sports boats posted revenue of $123.5 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $114.1 million.
Malibu Boats shares have increased 41 percent since the beginning of the year. The stock has risen 33 percent in the last 12 months.