BoatingIndustry
MarineMax's acquisition of the Port Arrowhead MarinaInc. and its sister companies, Lake Port Marina Inc.and Port Arrowhead Inc. allows the retailer toestablish a presence in the Midwest. The acquisition,which includes two retail locations and a large marinawith more than 300 slips in Missouri and Oklahoma, isexpected to close this quarter.
During 2005, MarineMax expanded in California,Florida, Maryland and Tennessee. Currently, MarineMaxoperates 71 retail locations in 17 states. The companyhas experienced significant financial growth since itwent public in 2000.
During its most recent reporting quarter, revenueincreased 25% to $228.6 million from $183.3 million,while same-store sales increased 24% over an 8% gainfor the same fourth quarter period last year.Moreover, net income rose 27% to $10.2 million,resulting in earnings per diluted share of 54 cents.
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