Spader dealers report profits up
SIOUX FALLS, S.D. – Net profits were up for the average dealer tracked by Spader Cos. during the four months ended April 30 – compared to the same period of 2004 – the company reported in a recent statement.
The training and consulting firm tracks North American boat dealers, both large and small, to compile an average profile, then compares year-over-year trends in a number of different categories.
Spader Cos. said its average marine dealer earned a net profit of $113,508 or 3.8 percent of sales during the first four months of the year, compared to $84,992 or 3.2 percent of sales during the same period of 2004.
New boat sales for the average dealer were up 16.1 percent from $1,795,151 for the first four months of 2004 to $2,083,612 for the same period this year. Total dealership sales rose 14.4 percent from $2,620,882 in 2004 to $2,998,749 this year.
New boat inventories also saw increases, compared to last year. They were up by 15.6 percent from $2,683,432 in 2004 to $3,101,651 this year.
New unit gross margin percentages are up 0.5 points from 18.4 percent in 2004 to 18.9 percent this year, while total company gross margin percentages were down by 0.4 points from 27.8 percent last year to 27.4 percent this year.
Spending was up in terms of dollars, but down over two points as a percentage of gross margin from 88.3 percent in 2004 to 86.2 percent this year.
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