VONORE, Tenn. - MasterCraft Boat Co. has designed the 2005 fiscal year as the best in its 37-year history, according to a recent statement.
During the year, both the company and its dealer network posted significant gains in unit volume, revenues and profitability, as well as extending its brand reach and setting another round of world records behind its towboats, according to MasterCraft.
“As a company, we are well positioned to take advantage of the baby boomers' need for luxury recreation, as well as introduce new products to the marketplace which will form an even stronger foundation for MasterCraft and its dealer network,” said John Dorton, MasterCraft president and CEO.
Both the company and its dealer network upped profitability significantly. MasterCraft posted a 14-percent increase in revenues and earnings over 2004, while its dealer network has seen a similar increase, due in part to the introduction of products like the MariStar 280, 245 and a compliment of X-Series and Saltwater Series models, according to the company.
“MasterCraft dealers participating in our 20 Group have increased their overall average revenue by 15 percent and profitability by 36 percent vs. 2004,” said David Parker of Parker Business Planning, who heads a consortium of marine industry retailers.
MasterCraft reported that its wholesale unit volume rose to over 3,300 units, with significant international growth and market share gains in key areas. “Our expanded MariStar line and its new Saltwater Series sub-brand has allowed us to reach into new and untapped markets,” stated Dorton.
MasterCraft's brand reach has never been greater than in 2005, thanks to investment and activation in new properties like the AMA Supercross Series, Tavistock Cup golf tournament, Dew Action Sports Tour and Wakeboard World Championships, as well as existing events like the X Games, MasterCraft Pro Wakeboard Tour, MasterCraft Pro Water Ski Championships, US Open and World Cup of wakeboarding and water skiing, the company stated. Combined, these properties created an additional 1 million on-site impressions for the brand - over and above traditional endemic marketing.
“The future growth of MasterCraft is dependent on continuing interest in outdoor activities like action sports and leisure outings which appeal to youth and affluence markets,” said Rob May, director of marketing.
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