Make us your home page

Clearwater's MarineMax's quarterly loss more than doubles

"In my 36 years in this industry, this is probably the worst environment we have seen." So said Clearwater-based MarineMax Inc. CEO William McGill Jr. in remarks to analysts Tuesday in announcing weak earnings for the quarter ended Dec. 31. The nation's largest boat retailer reported a net loss of $14.3 million, or 78 cents a share, compared with a loss of $6.4 million, or 35 cents a share, in a year-ago period. Revenue fell more than half to $100.2 million from $215.3 million in the same quarter last year, as sales at stores open more than a year plunged 52 percent in the quarter. McGill did offer some encouragement. "The cost of owning a boat is about as low as it's been for over a decade," he said. "Interest rates are relatively low. Financing has tightened some but is still available to our customers at low rates. Fuel is more affordable, and slips are even less expensive and readily available."

Clearwater's MarineMax's quarterly loss more than doubles 02/03/09 [Last modified: Tuesday, February 3, 2009 7:50pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. 1 in 4 Florida adults aren't registered to vote, according to non-partisan group


    TALLAHASSEE — Five million people in Florida who are eligible to vote aren't registered, according to a nationwide non-partisan group that helps improve the accuracy of state voter rolls.

    Voters line up in front of the Coliseum Ballroom in St. Petersburg on Nov. 8. A non-partisan group estimates that more than a quarter of Florida's adult-age population isn't registered to vote. [SCOTT KEELER | Tampa Bay Times]
  2. As White House defends Jared Kushner, experts question his alleged back-channel move


    WASHINGTON — The Trump administration argued over the weekend that back-channel communications are acceptable in building dialogue with foreign governments, part of an effort to minimize fallout over White House adviser Jared Kushner's reported discussion about creating a secret conduit to the Kremlin at a Russian …

    President-elect Donald Trump embraces son in law Jared Kushner, as his daughter Ivanka Trump stands nearby, after his acceptance speech at the New York Hilton Midtown in the early morning hours of Nov. 9. [Mark Wilson | Getty Images]
  3. Tampa is 15th-most popular city to move to with U-Haul


    TAMPA —Tampa is undoubtedly a destination point, at least according to U-Haul.

    Tampa is the No. 15 destination for people moving with U-Haul trucks. | Times file photo
  4. Florida's economy growing faster than other big states and far better than U.S. overall


    When it comes to economic growth, Florida's running alongside the leading states and well ahead of the United States as a whole.

  5. Westshore Marina District project takes shape with another acquisition

    Real Estate

    TAMPA — One of Tampa Bay's prime waterfront areas took another major step toward redevelopment Friday as WCI Communities bought 2.35 acres in Westshore Marina District.

    WCI Communities, Lennar's high-end subsidiary,has paid $2.5 million for 2.35 acres in the Westshore Marina District for 35 townhomes. WCI is under contract  to buy an additional 9.5 acres.
[BTI Partners]