trending Market Intelligence /marketintelligence/en/news-insights/trending/yyFbiZyvC9pp64moi80YdA2 content esgSubNav
In This List

Marine Products Corp. Q1 profit climbs 51.2% YOY

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Marine Products Corp. Q1 profit climbs 51.2% YOY

Marine Products Corp. said its normalized net income for the first quarter was 8 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS increased 51.3% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.7 million, a gain of 51.2% from $1.8 million in the prior-year period.

The normalized profit margin increased to 5.4% from 3.8% in the year-earlier period.

Total revenue rose 6.2% on an annual basis to $50.6 million from $47.7 million, and total operating expenses grew on an annual basis to $46.4 million from $44.9 million.

Reported net income rose 59.9% from the prior-year period to $2.9 million, or 8 cents per share, from $1.8 million, or 5 cents per share.