Earnings Review and Free Research Report: Malibu Boats’ Adjusted Diluted EPS Increased 13.1%

LONDON, UK / ACCESSWIRE / September 28, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Malibu Boats, Inc. (NASDAQ: MBUU) ("Malibu"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MBUU, following the Company's disclosure of its financial results on September 07, 2017, for the fourth quarter of the fiscal year 2017. The Company's revenue increased 12.6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the three months ended June 30, 2017, Malibu's revenue increased 12.6% to $75.11 million from $66.68 million in Q4 FY16. The revenue surpassed analysts' expectations of $74.0 million.

During Q4 FY17, Malibu's gross profit increased 12.3% to $20.04 million from $17.83 million in Q4 FY16. For the reported quarter, the Company's gross margin was at par with the 26.6% of revenue in Q4 FY16.

For the reported quarter, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 14.3% to $15.46 million from $13.52 million in Q4 FY16. During Q4 FY17, Malibu's adjusted EBITDA margin increased 30 basis points to 20.6% of revenue from 20.3% of revenue in Q4 FY16.

For the reported quarter, Malibu's S&M expenses increased 52.7% to $2.26 million from $1.48 million in Q4 FY16. The increase was primarily due to the timing of annual photo shoot and various marketing initiatives. During Q4 FY17, the Company's amortization expenses increased 18 basis points to $549,000 from $548,000 in Q4 FY16. For the reported quarter, the Company's G&A expenses increased 16.1% to $9.27 million from $7.98 million in Q4 FY16.

During Q4 FY17, Malibu's operating income increased 1.7% to $7.97 million from $7.83 million in Q4 FY16. For the reported quarter, the Company's operating margin decreased 110 basis points to 10.6% of revenue from 11.7% of revenue in Q4 FY16.

During Q4 FY17, Malibu's net income increased 168.3% to $9.66 million on a y-o-y basis from $3.60 million in Q4 FY16. For the reported quarter, the Company's adjusted net income increased 12.8% to $8.23 million on a y-o-y basis from $7.29 million in Q4 FY16. During Q4 FY17, Malibu's diluted earnings per share (EPS) increased 165% to $0.53 on a y-o-y basis from $0.20 in Q4 FY16. For the reported quarter, the Company's adjusted diluted EPS increased 13.1% to $0.43 on a y-o-y basis from $0.38 in Q4 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.42.

In July 2017, the Company completed the acquisition of Cobalt Boats.

Balance Sheet

As on June 30, 2017, Malibu's cash increased 26.6% to $32.82 million from $25.92 million in Q4 FY16.

During Q4 FY17, the Company's net trade receivable decreased 32.9% to $9.85 million from $14.69 million in Q4 FY16.

During Q4 FY17, Malibu's net inventories increased 16.6% to $23.84 million from $20.43 million in Q4 FY16.

For the reported quarter, the Company's accounts payable decreased 21.2% to $12.72 million from $16.16 million in Q4 FY16.

Outlook

For FY17, Malibu expects net revenue per unit to increase in the low- to mid-single digits and gross margin to be 24% of revenue. The Company estimates adjusted EBITDA margin to be more than 17% of revenue and capital expenditures to be in the range of $13 million - $14 million for the fiscal year 2017.

Stock Performance

At the closing bell, on Wednesday, September 27, 2017, Malibu Boats' stock climbed 2.18%, ending the trading session at $30.89. A total volume of 219.97 thousand shares have exchanged hands. The Company's stock price skyrocketed 19.96% in the last three months, 38.27% in the past six months, and 102.56% in the previous twelve months. Moreover, the stock soared 61.90% since the start of the year. The stock is trading at a PE ratio of 19.58 and currently has a market cap of $622.74 million.

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