Strong marine engine sales drive OMC's gains
Article Abstract:
Outboard Marine Corp. (OMC) posted improved sales and a net profit for the third quarter of 1998, propelled mainly by the increase in sales of marine engines. The company, which was acquired by Greenmarine Acquisitions Inc. in September 1997, reported sales of 284.6 million, a 3.2-percent increase from $275.8 million in sales a year ago. OMC also made net earnings of $12.3 million during the quarter as compared with the $5.1-million net loss in the year-ago period. The improvement in the company's financial status came even though boat sales declined during the quarter as compared to boat sales in 1997 third quarter.
Comment:
Posts improved sales & a net profit for 3rd quarter of 1998, propelled mainly by increase in sales of marine engine
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
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Model year '98 ends on uptick
Article Abstract:
Big boats and 17- to 20-foot boats registered strong sales during 1998 despite a stock market slump, world financial crisis and political scandal in the US. For instance, Bill Healey, president of Viking Yacht Co, said that it was not rare to see customers issue $1 million-plus checks when buying one of his boats. Industry insiders say that sales of new boats rose by 5% in dollar value during 1998. However, sales of personal watercraft were down by 40% while sales of jet boats were steady.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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