Earnings Review and Free Research Report: MCBC Holdings’ Net Sales Jumped 9.3%; Net Income Surged 31%

LONDON, UK / ACCESSWIRE / September 29, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on MCBC Holdings, Inc. (NASDAQ: MCFT) (“MCBC”), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MCFT, following the Company’s posting of its fourth quarter fiscal 2017 financial results on September 07, 2017. The sports boat maker outperformed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MCFT. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=MCFT

Earnings Reviewed

For the fourth quarter ended June 30, 2017, MCBC’s net sales rose 9.3% to $58.3 million compared to $53.4 million for Q4 FY16. The increase reflected a rise in unit sales volume of 5.6% and favorable pricing and product mix. The Company’s revenue numbers topped analysts’ estimates of $57.2 million.

MCBC’s net sales jumped 3.2% to $228.6 million for FY17 from $221.6 million in FY16. The rise was driven by an increase in unit volume of 48 units, or 1.8%, and an increase in net sales per unit of 1.4%.

For Q4 FY17, MCBC’s gross profit advanced 17.3% to $16.5 million versus $14.0 million in Q4 FY16. The Company’s gross margin for the reported quarter totaled 28.2% from 26.3% in the year-ago same period. The respective gains resulted from price increases, sales of higher content option packages, and lower retail rebates on y-o-y basis

MCBC’s selling and marketing (S&M) expense increased 4.2% to $2.2 million on a y-o-y basis, primarily due to the timing of promotion activities. The Company’s general and administrative (G&A) expense totaled $3.7 million for the reported quarter versus $4.2 million for the prior year’s corresponding period. This decrease resulted mainly from a decline in litigation costs.

For Q4 FY17, MCBC’s income totaled $6.3 million compared to $4.8 million in Q4 FY16. The Company’s adjusted net income was $6.5 million, or $0.35 per share, on a pro-forma basis, compared to adjusted net income of $5.7 million, or $0.30 per share, in the prior year’s same period. MCBC’s earnings exceeded Wall Street’s estimates of $0.33 per share.

For FY17, MCBC’s net income totaled $19.6 million, up from $10.2 million in FY16, reflecting reduced stock-based compensation costs. The Company’s adjusted net income increased to $24.3 million, or $1.30 per share, for FY17 versus adjusted net income of $23.4 million, or $1.24 per share, in the year-ago comparable period.

MCBC’s earnings before interest, tax, depreciation, and amortization (EBITDA) was $11.3 million for Q4 FY17 compared to $9.8 million in Q4 FY16, primarily due to increased net sales and higher gross profit. The Company’s adjusted EBITDA margin rose 120 basis points to 19.8% from 18.6% in the year-earlier same quarter.

Market Milestones

During Q4 FY17, the Company introduced the new XT22, a larger XT crossover boat designed with families in mind. The second largest do-everything XT boat, the 22-footer’s larger bow and sizeable wake provides more comfort and fun on the water.

The Company also announced an exclusive partnership with world-class, premium audio equipment manufacturer Klipsch Audio to bring premium, concert-level sound on its new sport boats. Klipsch Audio has created its first-ever marine speakers and amplification solutions that are exclusively offered on MasterCraft boats.

Cash Matters

During Q4 FY17, MCBC reported outstanding working capital management, as evidenced by a cash conversion cycle of 6.5 days. The Company paid down total debt by $17.7 million during FY17, reducing the balance from $52.2 million at the start of the fiscal year to $34.5 million at the end.

Outlook

For the fiscal year ending June 30, 2018, MCBC is forecasting net sales growth in the mid- to high-single digits and adjusted EBITDA margin in the low 19% range, setting the stage for another year of continued growth.

Stock Performance

MCBC Holdings’ share price finished yesterday’s trading session at $20.43, advancing 2.82%. A total volume of 106.35 thousand shares have exchanged hands. The Company’s stock price skyrocketed 4.55% in the last three months, 25.72% in the past six months, and 77.96% in the previous twelve months. Additionally, the stock soared 40.12% since the start of the year. Shares of the Company have a PE ratio of 19.44 and currently have a market cap of $371.42 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 476679