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CLEARWATER, Fla. – Same-store sales for recreational boat retailer MarineMax, Inc. grew 7 percent for the two months ended Aug. 31, and the company expects earnings per share of $1.43 to $1.48 on a fully diluted basis for its fiscal year ending Sept. 30, the company said in a release today.
This compares to the previously announced fiscal 2004 guidance range of $1.58 to $1.60 per diluted share. MarineMax will release fiscal 2004 and fourth quarter results on Oct. 28.
William H. McGill, Jr., chairman, CEO and president of MarineMax, Inc., said the same-store sales increase included the negative impact the company felt from Hurricane Charley.
"The strength of our business over the last two months validates our customer centric strategies and stands in stark contrast to what many retailers experienced over the same time horizon,” McGill Jr. said. "Beginning last week, the threatening path of Hurricane Frances and the preparedness taken by essentially all Florida residents in the days before and after the storm have negatively impacted our business in this very important market.
“While difficult to precisely measure the exact impact, we are updating our expectations for the fourth quarter and fiscal 2004 to better reflect the consequences of these events. We are still determining the physical damage that we sustained, but we are more focused on our team and their families. A lot of people's lives have been affected by these storms and our thoughts and prayers go out to our team and our fellow citizens."
MarineMax will host a conference call to review the recent events, which will be broadcast live over the Internet Sept. 7. An online archive of the broadcast will be available within one hour of the conclusion of the call and will be available for 30 days.
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