MarineMax Stays Afloat: Fool by Numbers

On Jan. 25, 2007, MarineMax (NYSE: HZO  ) released its first-quarter earnings for the period ended Dec. 31, 2006.

• Revenues increased 29.6% driven by a 14% increase in the same-store sales.
• Operating margins went down 200 basis points because of an increased number of "team members" and higher marketing and promotional costs.
• Inventories increased 40.5% due to the acquisition of the Port Arrowhead Group and Surfside-3 Marina -- completed during the March 2006 quarter -- and the addition of the Cabo Yachts product line.

(Figures in millions, except per-share data)

Income Statement Highlights

	Q1 2007	Q1 2006	Change
Sales	$234.7	$181.2	29.6%
Net Profit	($3.8)	$0.7	N/A
EPS	($0.21)	$0.04	N/A
Diluted Shares	18,287.8	18,525.8	(1.3%)

Get back to basics with a look at the income statement.

Margin Checkup

	Q1 2007	Q1 2006	Change*
Gross Margin	24.3%	24.5%	(0.2)
Operating Margin	0.1%	2.1%	(2.0)
Net Margin	(1.6%)	0.4%	(2.0)

*Expressed in percentage points.

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Balance Sheet Highlights

Assets	Q1 2007	Q1 2006	Change
Cash + ST Invest.	$13.1	$10.6	23.4%
Accounts Rec.	$48.8	$26.5	84.2%
Inventory	$545.3	$388.1	40.5%

Liabilities	Q1 2007	Q1 2006	Change
Accounts Payable	$15.6	$15.6	0.2%
Long-Term Debt	$31.5	$24.6	28.2%

Learn the ways of the balance sheet.

Cash Flow Highlights

Data not available.

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Related Companies:

• Marine Products (NYSE: MPX  )
• Brunswick (NYSE: BC  )

Related Foolishness:

• Marine Products Hard to Sink
• Boat Makers See Shoals

Marine Products is a Motley Fool Hidden Gems recommendation. You can view the entire Hidden Gems scorecard with your free trial.

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.