WASHINGTON, N.C. - Fountain Powerboat Industries, Inc. (NASDAQ:FPWR), a manufacturer of sport boats, fishing boats and express cruisers, today reported a 24 percent increase in sales for its third quarter, ended March 31, from the third quarter of 2003, according to a Fountain press release.
Net sales for the quarter were $15,790,649, up from $12,783,312 for the third quarter of the previous year, and net income from operations was $1,037,460. Net earnings were $785,011 or $.16 per share for the third quarter of fiscal 2004, Fountain reported.
Net sales for the first nine months of fiscal 2004 ended March 31, were $42,037,693 up from net sales of $37,799,524 for the same nine months of fiscal 2003, the company said.
"Our unprecedented backlog is the result of our diversification of our product lines, our aggressive marketing campaign and an improving economy, and it puts us in a strong position for continued success through the remainder of this fiscal year (June 30, 2004) and beyond," said Reginald Fountain, Jr., company president and CEO.