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Revenue grew 8. Malibu Boats Inc is a designer, manufacturer and marketer of performance mlibu boats. Its boats are used for water sports, including water skiing, wakeboarding and wake surfing, as well as general recreational boating. We continue to optimize our production plans to deliver more boats to meet the unwavering demand for our products. This transaction adds a strong player in the center console, dual console and bay boat space with a distinguished reputation and enhances our breadth of saltwater outboard offerings.

As we look to the balance are malibu boats expensive journal the ar year, we continue to see demand for our premium brands and upgraded features and options, and for several of our brands, we are building more boats than we have seen in the history of the Company.

We expeensive incredibly ate for the second half of fiscal year to capture market share while serving our ate and growing customer base. The increase in net sales was driven primarily by a favorable model mix in our Malibu segment and increased unit volumes in our Saltwater Fishing segment. Our acquisition of Maverick Boat Group closed on the last day of the are malibu boats expensive journal and therefore did not impact our net sales for the three months ended December 31, Unit volume for the three are malibu boats expensive journal ended December 31,decreased 62 units, or 3.

Our unit volume decreased primarily due to continued lower production levels in our Cobalt segment. Unit volumes attributable to our Malibu segment remained flat for the three boatss ended December 31,compared to the wre months ended December 31, The increase in net sales was driven primarily by strong demand for our new, larger models and optional features. Unit volumes attributable to Cobalt decreased 72 botas for the three months ended December 31, compared to the three months ended December 31, Our unit volumes, are malibu boats expensive journal as a result our net sales, for our Cobalt segment decreased during the three months ended December 31, driven by our lower production levels for our Cobalt segment.

The planned lower production rates were driven by our investment in the plant sre optimize efficiency and expand capacity, the introduction of two new Cobalt models during the quarter, and challenges around labor are malibu boats expensive journal supply as a result of the pandemic.

While we are ahead of our planned production levels, we do not expect unit volume in this segment will result in year-over-year gains until the second half of this fiscal year. The decrease in our unit volumes for Cobalt was partially offset by a favorable product mix of our Cobalt models impacting our net sales per unit. The increase was driven primarily by sales of larger, more expensive models and unit volumes which increased ten units for the three months ended December 31, compared to the three months ended December 31, Overall consolidated net malinu per unit increased Net sales per unit for our Malibu segment increased Net sales per unit for our Cobalt segment increased Net sales per are malibu boats expensive journal for our Saltwater Fishing segment increased 9.

The increase in cost of sales was driven by higher costs related to higher net sales in our Malibu and Saltwater Fishing segments. Both the Malibu and Are malibu boats expensive journal Fishing segment cost of sales increases were partially offset by a decrease in cost of sales at Cobalt that was driven by decreased volume, but offset by per unit cost of sales increases driven by a mix of larger, more expensive product.

The increase in gross hournal was driven primarily by higher sales revenue with a more favorable product mix partially offset by the increased cost of sales for the reasons noted. Gross margin for the three months ended December 31, increased basis points from As a percentage of sales, selling and marketing expenses decreased 60 basis points compared to the same period in the prior fiscal year.

As a percentage of sales, general and administrative expenses increased are malibu boats expensive journal points to 7. Net income for maliu second maalibu of fiscal year increased The Company is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial expnesive. The Company will host a webcast and conference call to discuss second quarter of fiscal year results jourhal Tuesday, February 9,at a.

Eastern Time. Investors and analysts can participate on the conference call by dialing or and using Conference ID MBUU is a leading designer, are malibu boats expensive journal and marketer of a diverse range of recreational powerboats, ade performance sport, sterndrive and outboard boats.

Malibu Boats, Inc. A pre-eminent innovator in the powerboat industry, Malibu Boats, Inc. For more information, visit www. These measures have limitations as analytical tools and should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with U.

Our presentation of these non-GAAP financial measures should expensiv not boatss construed as an inference are malibu boats expensive journal our results will be unaffected by xepensive or non-recurring boatss. Our computations of these are malibu boats expensive journal financial measures may not be comparable to other similarly titled measures of other companies.

Management believes Adjusted EBITDA and Adjusted EBITDA Margin allow investors to evaluate our operating performance and compare our results of operations from period to period on a consistent basis by excluding items that management does not believe are indicative of core operating performance.

Management uses Adjusted EBITDA to assist in highlighting trends in our operating results without regard to our financing methods, capital structure, and non-recurring or non-operating expenses. We exclude the items listed above from net income in arriving at Adjusted EBITDA because these amounts can vary substantially from company to company within our industry depending are malibu boats expensive journal accounting methods and rae values of assets, capital structures, the methods by which assets were jougnal and other factors.

We use Adjusted Fully Distributed Net Income to facilitate a comparison of our operating performance on a consistent basis from period to period that, when viewed in combination with our results prepared in accordance with GAAP, provides a more complete understanding of factors and trends affecting our business than GAAP measures.

We believe Adjusted Fully Distributed Net Jiurnal assists our board of directors, management and investors in comparing our net income on a consistent basis from period to period are malibu boats expensive journal it removes non-cash or non-recurring are malibu boats expensive journal, and eliminates the variability of non-controlling interest as a result of member owner exchanges of LLC units into shares of Class A Common Ecpensive. In addition, because Adjusted Fully Distributed Net Income is susceptible to varying bkats, the Adjusted Fully Distributed Net Income measures, as presented in this release, may differ from and may, therefore, not be comparable to similarly titled measures used by other companies.

This press release includes forward-looking expensiive as such term is defined in the Private Securities Litigation Reform Act of Many of these risks and uncertainties are outside our control, and there may be other risks and uncertainties which we do not currently anticipate because are malibu boats expensive journal relate to events are malibu boats expensive journal depend on circumstances that may or may not occur in the future.

Although we believe that the expectations reflected in any forward-looking statements are based on reasonable assumptions at the time made, we can give no assurance that our expectations will be achieved. Undue reliance should not be placed on these forward-looking statements, which speak ex;ensive as of the date hereof.

We undertake no obligation and we expressly expennsive any obligation to update or supplement any forward-looking statements that may become untrue because of subsequent events, whether because of new information, future events, changes in assumptions or.

Comparison of results for current and prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data. The following table shows the reconciliation of the numerator and denominator for net income available to Class A Common Stock per share to Adjusted Fully Distributed Net Income per Share of Class A Common Stock for the periods presented in thousands are malibu boats expensive journal share and per share data :.

Power Rating. Three Months Ended December 31. Six Months Ended December 31. Dollars In Thousands. Net Sales. Selling and marketing.

General and administrative. Other income, net. Interest expense. Net income. Net income attributable aer Malibu Boats, Inc. Change in cumulative translation adjustment. Comprehensive income. Less: comprehensive income attributable to non-controlling. Comprehensive malibbu attributable to Malibu Boats, Inc. Weighted average shares outstanding used in computing net income per share:.

Net income available to Class A Common Stock per share:. December 31, June 30, Trade receivables, net. Inventories, net. Prepaid jornal and other current assets. Total current assets. Total assets. Current maturities of long-term obligations. Accounts payable. Accrued expenses. Income taxes and tax distribution payable. Payable pursuant to tax receivable agreement, current portion. Total current liabilities.

Deferred tax liabilities. Other liabilities. Payable pursuant to tax receivable agreement, less current portion. Long-term debt. Total liabilities. Total stockholders' equity attributable to Malibu Boats, Inc. Total liabilities and stockholders' equity. Represents maibu and advisory fees related to our litigation with Skier's Choice, Inc. For the three months and six months ended December 31,represents legal and advisory fees incurred in connection with our acquisition of Maverick Boat Are malibu boats expensive journal on December 31, Represents equity-based incentives awarded to key employees under the Malibu Boats, Inc.

Long-Term Incentive Plan hoats profit interests issued under the previously existing limited liability company agreement of the LLC. For the three and six months ended December 31,represents costs incurred in connection with interruption to our engine supply during the UAW strike against General Motors. During the UAW strike, General Motors suspended delivery of engine blocks to us and we incurred costs by entering into purchase agreements with two suppliers for additional engines to supplement our inventory of engine blocks for Malibu and Axis boats.

Fair market value adjustment for interest rate swap 3. Net income attributable to non-controlling interest 6.

Wilmington N. Type Public Traded as. Joystick Systems. Yamaha Boats. Pod Drives.
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