Malibu Boats, Inc. Announces Record Fourth Quarter and Fiscal 2021 Results

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[{"type":"text","content":"LOUDON, Tenn., Aug. 26, 2021 (GLOBE NEWSWIRE) -- Malibu Boats, Inc. (Nasdaq: MBUU) today announced its financial results for the fourth quarter and fiscal year ended June 30, 2021. Fiscal Fourth Quarter 2021 Highlights Compared to Fiscal Fourth Quarter 2020 Net sales increased 133.2% to $276.7 millionUnit volume increased 110.7%Gross profit increased 193.9% to $69.2 millionNet income increased 437.1% to $35.0 millionAdjusted EBITDA increased 272.2% to $57.6 millionNet income available to Class A Common Stock per share (diluted) increased 451.7% to $1.60 per shareAdjusted fully distributed net income per share increased 360.0% to $1.84 per share on a fully distributed weighted average share count of 21.7 million shares of Class A Common Stock Fiscal Year 2021 Highlights Compared to Fiscal Year 2020 Net sales increased 41.9% to $926.5 millionUnit volume increased 27.0%Gross profit increased 58.4% to $236.5 millionNet income increased 76.8% to $114.3 millionAdjusted EBITDA increased 71.3% to $190.1 millionNet income available to Class A Common Stock per share (diluted) increased 77.3% to $5.23 per shareAdjusted fully distributed net income per share increased 82.7% to $6.01 on a fully distributed weighted average share count of 21.6 million shares of Class A Common Stock “Our premium brands, market leading innovation and operational excellence delivered another record-breaking year with net sales increasing more than 40%, net income increasing 76% and Adjusted EBITDA growing over 71%. The strength of our brands, coupled with our vertically-integrated model and our team’s agility while navigating the challenges spurred by the COVID-19 pandemic have delivered truly incredible results,” commented Jack Springer, Chief Executive Officer of Malibu Boats Inc. “Retail demand has maintained its breathtaking pace, and the trend toward larger, more custom boats is persisting. Of new boat orders, we believe over 90% will be retail sold in the first quarter of fiscal 2022, and we anticipate a robust pace to continue throughout the remainder of the year. The introduction of our Model Year 2022 lineup has been nothing short of spectacular. Malibu and Axis will introduce four new models, Cobalt will introduce five new models for the year, and Pursuit is on track to deliver three new boats during the year. In addition, we welcomed Maverick Boat Gro...

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