Marine Products Corporation Reports Fourth Quarter 2019 Financial Results
ATLANTA , Jan. 29, 2020 |PRNewswire| -- Marine Products Corporation (NYSE: MPX ) announced its unaudited results for the quarter ended December 31 , 2019. Marine Products is a leading manufacturer of fiberglass boats under three brand names: Chaparral, Robalo and Vortex. Chaparral's sterndrive models include SSi and SSX, along with the Chaparral Surf Series. Chaparral's outboard offerings include various models, such as OSX Luxury Sportboats, the 257 SSX, and SunCoast Sportdecks. Robalo builds an array of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models. Chaparral also offers jet powered boats under the Vortex brand name. For the quarter ended December 31, 2019 , Marine Products generated net sales of $48,175,000 , a 22.4 percent decrease compared with net sales of $62,062,000 in the same period of the prior year. During the quarter, unit sales declined by 21.0 percent, as sales declined across all model lines. Average selling price declined by 1.3 percent due to a change in model mix.
Marine Products Corporation Reports Fourth Quarter 2019 Financial Results
ATLANTA , Jan. 29, 2020 |PRNewswire| -- Marine Products Corporation (NYSE: MPX ) announced its unaudited results for the quarter ended December 31 , 2019. Marine Products is a leading manufacturer of fiberglass boats under three brand names: Chaparral, Robalo and Vortex. Chaparral's sterndrive models include SSi and SSX, along with the Chaparral Surf Series. Chaparral's outboard offerings include various models, such as OSX Luxury Sportboats, the 257 SSX, and SunCoast Sportdecks. Robalo builds an array of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models. Chaparral also offers jet powered boats under the Vortex brand name. For the quarter ended December 31, 2019 , Marine Products generated net sales of $48,175,000 , a 22.4 percent decrease compared with net sales of $62,062,000 in the same period of the prior year. During the quarter, unit sales declined by 21.0 percent, as sales declined across all model lines. Average selling price declined by 1.3 percent due to a change in model mix.