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Malibu Boats profit misses consensus by 51.1% in fiscal Q3

Malibu Boats Inc. said its normalized net income for the fiscal third quarter ended March 31 amounted to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.

EPS declined 14.1% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.5 million, a decrease of 38.9% from $4.0 million in the year-earlier period.

The normalized profit margin dropped to 5.2% from 8.0% in the year-earlier period.

Total revenue climbed 28.8% year over year to $64.8 million from $50.3 million, and total operating expenses rose 25.7% year over year to $54.9 million from $43.6 million.

Reported net income totaled $4.4 million, or 28 cents per share, compared to a loss of $785,000, or a loss of 4 cents per share, in the year-earlier period.