Malibu Boats: Fiscal 1Q Earnings Snapshot
LOUDON, Tenn. (AP) _ Malibu Boats Inc. (MBUU) on Thursday reported fiscal first-quarter net income of $15.9 million.
On a per-share basis, the Loudon, Tennessee-based company said it had profit of 76 cents. Earnings, adjusted for one-time gains and costs, were 83 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The maker of performance sports boats posted revenue of $172.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $149.9 million.
Malibu Boats shares have declined 3% since the beginning of the year. The stock has dropped 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBUU at https://www.zacks.com/ap/MBUU
