Fountain Powerboat sales up 42 percent

FORT PIERCE, Fla. – Sales for boat builder Fountain Powerboats rose by more than 42 percent in fiscal 2003, up from $36,950,581 in 2002 to $52,557,084 and unit sales volume increased 68 percent from 231 to 388, according to an annual report released by the company today.

Fountain said it experienced net sales and unit sales growth within all product segments with the greatest net sales dollar increase experience by the company’s new model wide-beam fish boats and wide-beam express cruisers.

During fiscal 2003 the 34-foot and 38-foot fish boat models accounted for approximately 18 percent of annual sales versus 15 percent in fiscal 2002 and 6 percent in fiscal 2001. The 38-foot and 48-foot express cruiser models accounted for approximately 19 percent of annual fiscal 2003 sales versus 15 percent in fiscal 2002 and 4 percent in fiscal 2001, according to the boat builder.

Gross margin on sales for fiscal 2003 was $8,519,127, 16.2-percent of net sales, as compared to $959,748, 2.6-percent of net sales, for fiscal 2002. Improvement in gross margin was a result of improved sales volume, effectively allocating fixed costs over more units, improved product mix of sport boats and wide-beam fish boats, and efficiency improvements in manufacturing, the company said.

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