Double-digit revenue increase expected by Fountain
WASHINGTON, N.C. – Fountain Powerboat Industries, Inc., expects an 11-percent revenue increase for fiscal 2006, the company reported in a release this week.
Fountain said it expects to report revenue for fiscal 2006, ended June 30, of approximately $79 million, an estimated 11 percent increase over revenue for the prior year.
The company reported a strong order backlog of approximately $40 million after shipping revenues of approximately $23 million for the fourth quarter.
Fountain Chief Financial Officer Irving Smith said the company’s balance sheet remains strong with liquid assets in excess of $10.5 million.
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