Feb 9, 2021

ChaparralMarine Products Corp., manufacturers of Chaparral, Robalo and Vortex boats announced their Q4 financial results on January 27th. For the quarter ended December 31, 2020, Marine Products generated net sales of $71,110,000, a 47.6 percent increase compared to $48,175,000 in the same period of the prior year. The increase in net sales was due to a 27.8 percent increase in the number of units sold during the quarter as compared to the prior year, a 14.1 percent increase in the average selling price per boat, and an increase in parts and accessories sales. Unit sales increased among most of our product categories compared to the prior year. Average selling prices increased due to a favorable model mix which included larger models in most product categories.

Gross profit for the fourth quarter of 2020 was $17,431,000, a 65.7 percent increase compared to $10,522,000 in the same period of the prior year. Gross margin was 24.5 percent of net sales in the fourth quarter of 2020 compared to 21.8 percent in the fourth quarter of 2019. Gross margin as a percentage of net sales increased compared to the prior year due to the efficiency benefits of higher production and a favorable model mix consisting of larger boats.

Operating profit for the fourth quarter of 2020 was $9,083,000, an increase of $4,905,000 compared to $4,178,000 in the fourth quarter of last year. 

Richard A. Hubbell, Marine Products' President and Chief Executive Officer stated, "Our fourth quarter results demonstrate the continuation of consumers' renewed interest in recreational boating which began during the second quarter of 2020. We operated at a higher production rate than usual during a typical fourth quarter, as dealer inventory remained historically low and order backlog remains high. As we begin 2021, we are encouraged by the continued strong interest by our dealers and retail customers and we look forward to an exceptionally strong market during the near term. We are also very pleased by our continued strong market share, and I would like to note that for the 12 months ended on September 30, 2020, our Robalo product line held the highest market share in the outboard market in its size range. The combination of our Robalo and Chaparral outboard units held a market share of 6.9 percent of the outboard market.

"The 2021 winter boat show season has been cancelled due to the COVID-19 pandemic. This time of year represents a meaningful opportunity to introduce our new models for the year and to assess demand for the upcoming retail selling season. Since the beginning of the pandemic, we have been cooperating with our dealers to conduct as much virtual marketing as possible, and we are continuing this effort in 2021. We believe that these efforts are helping our customers make these important purchasing decisions remotely. As we plan this year, we are also very aware of potential supply chain constraints and labor shortages resulting both from high demand and continuing pandemic concerns," concluded Hubbell.

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2022 AMI Conference & Expo, Feb 1-3, 2022| Daytona Beach

 

Association of Marina IndustriesSave the date for the 2022 AMI Conference & Expo in Daytona Beach, FL on February 1-3, 2022. Plan ahead and book your room at the host hotel to receive your discounted rates!

The Association of Marina Industries Conference & Expo is THE leading marina and boatyard conference. It is geared specifically toward marina and boatyard owners; operators and managers; as well as dock masters, harbormasters, boat builders and repairers, and industry consultants. 

 

 

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ROKK Wireless - Catch is one of the most convenient ways to store and wirelessly charge your phone onboard indoors or out! Designed to install onto any flat surface, perfect for use on top of boat consoles. 

Simply place your phone onto the center of the charging mat and instantly start wirelessly charging. The cleverly designed edging bumpers stop your phone from sliding out, and lets the mat Catch your phone from any angle!

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