MasterCraft reports sales and earnings increases

VONORE, Tenn – Despite a sluggish year for many boat builders, MasterCraft Boat Co. has realized its sixth straight year of record results in units sold, revenues and overall earnings, the company reported in a statement yesterday.

This year’s impressive marks were due to strong boat show results, continued aggressive model introductions, like the ProStar 214 and CSX 220, and increased attention to its Saltwater Series, according to the company.

To gain more insight into MasterCraft’s success, read Boating Industry magazine’s September cover story when it arrives in your mailbox and online in about a month.

MasterCraft achieved a 9-percent unit increase and 12-percent revenue increase during the 2007 model year, which ended June 30.

“New products and hands-on dealer development lead to a 218-percent increase in our saltwater business, a 10-percent increase in our international business and a 9-percebt increase in our domestic freshwater business,” said John Dorton, president and CEO of MasterCraft. “In addition, quality and efficiencies in the plant lead to margin improvements which drove higher EBITDA margins.”

These improvements in performance derive from several successful programs, according to the company, including what it described as innovative training for the dealer network and best-practice initiatives like its Lean Manufacturing, Six Sigma and 5S Safety Programs. MasterCraft said this recently lead to a significant and rare milestone in the industry when it achieved 1 million hours worked with no time-loss injuries. MasterCraft is currently up to 1.3 million hours in an effort to reach the next major accomplishment in October of 2 million hours worked with no time-loss injuries.

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“Safety has always been important to MasterCraft,” added Dorton. “As a result, we implemented additional safety measures with the idea to accomplish three main goals – first, to create the safest work environment possible for our employees and the families that depend on them. Second, we understand that if people are not absent due to injuries, the quality and integrity of the product is more consistent. And third, we want to reduce non-beneficial costs to the company like workman’s comp and use that money instead to invest in our business and its people. Ultimately this focus on safety and industry best practices contributed to our record earnings.”

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