Marine Products misses Q1 profit expectation but beats sales estimate
Fiberglass powerboat maker Marine Products Corp. (NYSE:MPX) reported early Wednesday that its first-quarter net income rose to $4.1 million, or $0.11 per share, compared with $3.9 million, or $0.10 per share, a year earlier. The results missed Wall Street expectations of earning $0.12 per share. On the positive side, Marine clocked quarterly net sales of $65.5 million from $65 million during the prior-year period. Wall Street anticipated sales of $64.2 million.
In Wednesday afternoon trading, MPX shares are up 0.98%, or $0.07, at $7.21. For detailed price information and recent news stories about Marine Products, click MPX.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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