2013 Q3 Form 10-Q Financial Statement
#000119312513321625 Filed on August 06, 2013
Income Statement
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
Revenue | $149.7M | $175.8M | $151.3M |
YoY Change | 8.98% | 16.14% | -1.22% |
Cost Of Revenue | $109.6M | $128.9M | $111.0M |
YoY Change | 5.04% | 16.13% | -2.68% |
Gross Profit | $40.12M | $46.81M | $40.29M |
YoY Change | 21.42% | 16.18% | 3.04% |
Gross Profit Margin | 26.8% | 26.63% | 26.62% |
Selling, General & Admin | $33.92M | $33.05M | $34.66M |
YoY Change | 0.67% | -4.65% | -1.54% |
% of Gross Profit | 84.54% | 70.6% | 86.02% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $1.700M | $1.700M | $1.500M |
YoY Change | -5.56% | 13.33% | -11.76% |
% of Gross Profit | 4.24% | 3.63% | 3.72% |
Operating Expenses | $33.92M | $33.05M | $34.66M |
YoY Change | 0.67% | -4.65% | -1.54% |
Operating Profit | $6.203M | $13.76M | $5.631M |
YoY Change | -1055.78% | 144.36% | 44.38% |
Interest Expense | $862.0K | $1.193M | $1.018M |
YoY Change | -14.57% | 17.19% | -227.25% |
% of Operating Profit | 13.9% | 8.67% | 18.08% |
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | $5.341M | $12.57M | $4.613M |
YoY Change | -422.14% | 172.43% | 53.77% |
Income Tax | $136.0K | -$1.070M | |
% Of Pretax Income | 2.55% | -8.51% | |
Net Earnings | $5.205M | $13.64M | $4.613M |
YoY Change | -425.72% | 195.62% | 35.68% |
Net Earnings / Revenue | 3.48% | 7.76% | 3.05% |
Basic Earnings Per Share | $0.58 | $0.20 | |
Diluted Earnings Per Share | $0.21 | $0.56 | $0.20 |
COMMON SHARES | |||
Basic Shares Outstanding | 24.26M shares | 23.39M shares | 22.81M shares |
Diluted Shares Outstanding | 24.27M shares | 24.18M shares | 23.52M shares |
Balance Sheet
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $23.80M | $37.30M | $33.20M |
YoY Change | 0.85% | 12.35% | 22.96% |
Cash & Equivalents | $23.76M | $37.30M | $33.24M |
Short-Term Investments | |||
Other Short-Term Assets | $4.800M | $4.800M | $6.000M |
YoY Change | -5.88% | -20.0% | 11.11% |
Inventory | $228.0M | $235.0M | $199.1M |
Prepaid Expenses | |||
Receivables | $19.41M | $29.89M | $21.10M |
Other Receivables | $368.0K | $0.00 | $0.00 |
Total Short-Term Assets | $276.1M | $307.0M | $259.4M |
YoY Change | 5.12% | 18.35% | 1.77% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $100.3M | $100.1M | $101.2M |
YoY Change | 1.56% | -1.05% | -0.59% |
Goodwill | $802.0K | ||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $5.507M | $4.893M | $700.0K |
YoY Change | 48.24% | 599.0% | -41.67% |
Total Long-Term Assets | $105.8M | $105.0M | $101.8M |
YoY Change | 3.25% | 3.17% | -1.17% |
TOTAL ASSETS | |||
Total Short-Term Assets | $276.1M | $307.0M | $259.4M |
Total Long-Term Assets | $105.8M | $105.0M | $101.8M |
Total Assets | $381.9M | $412.0M | $361.2M |
YoY Change | 4.6% | 14.07% | 0.92% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $7.474M | $9.828M | $9.100M |
YoY Change | -11.62% | 8.0% | -17.27% |
Accrued Expenses | $20.33M | $24.82M | $25.50M |
YoY Change | -12.61% | -2.68% | -5.56% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $122.5M | $142.3M | $111.8M |
YoY Change | 1.51% | 27.31% | 6.27% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $159.6M | $195.3M | $155.1M |
YoY Change | -0.78% | 25.94% | 2.17% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $500.0K | $700.0K | $4.400M |
YoY Change | -84.85% | -84.09% | -29.03% |
Total Long-Term Liabilities | $473.0K | $723.0K | $4.400M |
YoY Change | -85.72% | -83.57% | -29.03% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $159.6M | $195.3M | $155.1M |
Total Long-Term Liabilities | $473.0K | $723.0K | $4.400M |
Total Liabilities | $160.1M | $196.1M | $159.6M |
YoY Change | -2.49% | 22.84% | 1.01% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $15.87M | $10.66M | |
YoY Change | 1777.99% | ||
Common Stock | $221.8M | $221.1M | |
YoY Change | 2.71% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $15.81M | $15.81M | |
YoY Change | 0.0% | ||
Treasury Stock Shares | 790.9K shares | 790.9K shares | |
Shareholders Equity | $221.8M | $216.0M | $201.7M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $381.9M | $412.0M | $361.2M |
YoY Change | 4.6% | 14.07% | 0.92% |
Cashflow Statement
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $5.205M | $13.64M | $4.613M |
YoY Change | -425.72% | 195.62% | 35.68% |
Depreciation, Depletion And Amortization | $1.700M | $1.700M | $1.500M |
YoY Change | -5.56% | 13.33% | -11.76% |
Cash From Operating Activities | $8.200M | $6.000M | $13.10M |
YoY Change | -155.41% | -54.2% | -270.13% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$2.000M | -$1.200M | -$1.600M |
YoY Change | 33.33% | -25.0% | -33.33% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$100.0K | $400.0K | $200.0K |
YoY Change | -95.65% | 100.0% | |
Cash From Investing Activities | -$2.000M | -$1.000M | -$1.500M |
YoY Change | -45.95% | -33.33% | -37.5% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -19.80M | 2.200M | -7.400M |
YoY Change | -320.0% | -129.73% | -147.13% |
NET CHANGE | |||
Cash From Operating Activities | 8.200M | 6.000M | 13.10M |
Cash From Investing Activities | -2.000M | -1.000M | -1.500M |
Cash From Financing Activities | -19.80M | 2.200M | -7.400M |
Net Change In Cash | -13.60M | 7.200M | 4.200M |
YoY Change | 43.16% | 71.43% | -25.0% |
FREE CASH FLOW | |||
Cash From Operating Activities | $8.200M | $6.000M | $13.10M |
Capital Expenditures | -$2.000M | -$1.200M | -$1.600M |
Free Cash Flow | $10.20M | $7.200M | $14.70M |
YoY Change | -176.69% | -51.02% | -377.36% |
Facts In Submission
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<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><font style="FONT-FAMILY: Times New Roman" size="2"><b>1. COMPANY BACKGROUND:</b></font></b></font></p> <font style="FONT-FAMILY: Times New Roman" size="2"> <!-- xbrl,body --></font> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">We are the largest recreational boat retailer in the United States. We engage primarily in the retail sale, brokerage, and service of new and used boats, motors, trailers, marine parts and accessories and offer slip and storage accommodations in certain locations. In addition, we arrange related boat financing, insurance, and extended service contracts. We recently implemented programs to increase our sale over the Internet of used boats and a wide range of boating parts, accessories, supplies, and products; the sale of boats, boating parts, and accessories, as well as the offer of finance and insurance, or F&I, products at various offsite locations; and the charter of power and sailing yachts in the British Virgin Islands. None of these recently implemented programs have had a material effect on our condensed consolidated financial statements. As of June 30, 2013, we operated through 54 retail locations in 18 states, consisting of Alabama, Arizona, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, Tennessee, and Texas. Our MarineMax Vacations operations maintain a facility in Tortola, British Virgin Islands.</font></font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">We are the nation’s largest retailer of Sea Ray, Boston Whaler, Bayliner, Meridian, Cabo, and Hatteras recreational boats and yachts, all of which are manufactured by Brunswick Corporation (“Brunswick”). Sales of new Brunswick boats accounted for approximately 47% of our revenue in fiscal 2012. Brunswick is the world’s largest manufacturer of marine products and marine engines. We believe we represented in excess of 7% of all Brunswick marine sales, including approximately 42% of its Sea Ray boat sales, during our 2012 fiscal year.</font></font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">We have dealership agreements with Sea Ray, Boston Whaler, Bayliner, Cabo, Hatteras, Meridian, and Mercury Marine, all subsidiaries or divisions of Brunswick. We also have dealer agreements with Italy-based Azimut-Benetti Group’s product line for Azimut Yachts. These agreements allow us to purchase, stock, sell, and service these manufacturers’ boats and products. These agreements also allow us to use these manufacturers’ names, trade symbols, and intellectual properties in our operations.</font></font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">We are a party to a multi-year dealer agreement with Brunswick covering Sea Ray products that appoints us as the exclusive dealer of Sea Ray boats in our geographic markets. We are the exclusive dealer for Boston Whaler and Bayliner through multi-year dealer agreements for many of our geographic markets. We are a party to a dealer agreement with Hatteras that gives us the exclusive right to sell Hatteras Yachts throughout the states of Florida (excluding the Florida panhandle), New Jersey, New York, and Texas. We are also the exclusive dealer for Cabo throughout the states of Florida, New Jersey, and New York through a dealer agreement. In addition, we are the exclusive dealer for Azimut Yachts for the entire United States through a multi-year dealer agreement. We believe non-Brunswick brands offer a migration for our existing customer base or fill a void in our product offerings, and accordingly, do not compete with the business generated from our other prominent brands.</font></font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">As is typical in the industry, we deal with manufacturers, other than Sea Ray, Boston Whaler, Bayliner, Meridian, and Azimut Yachts, under renewable annual dealer agreements, each of which gives us the right to sell various makes and models of boats within a given geographic region. Any change or termination of these agreements, or the agreements discussed above, for any reason, or changes in competitive, regulatory, or marketing practices, including rebate or incentive programs, could adversely affect our results of operations. Although there are a limited number of manufacturers of the type of boats and products that we sell, we believe that adequate alternative sources would be available to replace any manufacturer other than Sea Ray as a product source. These alternative sources may not be available at the time of any interruption, and alternative products may not be available at comparable terms, which could affect operating results adversely.</font></font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">General economic conditions and consumer spending patterns can negatively impact our operating results. Unfavorable local, regional, national, or global economic developments or uncertainties regarding future economic prospects could reduce consumer spending in the markets we serve and adversely affect our business. Economic conditions in areas in which we operate dealerships, particularly Florida in which we generated 54%, 50%, and 49% of our revenue during fiscal 2010, 2011, and 2012, respectively, can have a major impact on our operations. Local influences, such as corporate downsizing, military base closings, inclement weather such as Hurricane Sandy, environmental conditions, and specific events, such as the BP oil spill in the Gulf of Mexico, also could adversely affect our operations in certain markets.</font></font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> <font style="FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">In an economic downturn, consumer discretionary spending levels generally decline, at times resulting in disproportionately large reductions in the sale of luxury goods. Consumer spending on luxury goods also may decline as a result of lower consumer confidence levels, even if prevailing economic conditions are favorable. Although we have expanded our operations during periods of stagnant or modestly declining industry trends, the cyclical nature of the recreational boating industry or the lack of industry growth may adversely affect our business, financial condition, and results of operations. Any period of adverse economic conditions or low consumer confidence has a negative effect on our business.</font></font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" size="2">Lower consumer spending resulting from a downturn in the housing market and other economic factors adversely affected our business in fiscal 2007, and continued weakness in consumer spending and depressed economic conditions had a very substantial negative effect on our business in each subsequent fiscal year. These conditions caused us to substantially reduce our acquisition program, delay new store openings, reduce our inventory purchases, engage in inventory reduction efforts, close a number of our retail locations, reduce our headcount, and amend and replace our credit facility. Acquisitions and new store openings remain important strategies to our company, and we plan to resume our growth through these strategies when more normal economic conditions return. However, we cannot predict the length or severity of these unfavorable economic or financial conditions or the extent to which they will continue to adversely affect our operating results nor can we predict the effectiveness of the measures we have taken to address this environment or whether additional measures will be necessary.</font></font><!-- xbrl,n --></p> </div> | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y8M12D | ||
us-gaap |
Debt Instrument Maturity Date
DebtInstrumentMaturityDate
|
2013-06-30 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
6.10 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
7.62 | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
|
0.85 | pure | |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
738099 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
4.49 | ||
us-gaap |
Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
|
0.0350 | pure | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-389000 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
5.27 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
572250 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
23176664 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
215266 | shares | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P5Y10M24D | ||
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
453692 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
9.05 | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. The estimates made by us in the accompanying unaudited condensed consolidated financial statements include valuation allowances, valuation of goodwill and intangible assets, valuation of long-lived assets, and valuation of accruals. Actual results could differ from those estimates.</font></p> </div> | ||
us-gaap |
Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
|
Interest rate for amounts outstanding under the CGI Facility is 350 basis points above the one-month LIBOR. | ||
us-gaap |
Debt Instrument Covenant Compliance
DebtInstrumentCovenantCompliance
|
The covenants include provisions that our leverage ratio must not exceed 2.75 to 1.0 and that our current ratio must be greater than 1.2 to 1.0. | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
3330 | shares | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
123000 | ||
us-gaap |
Gross Profit
GrossProfit
|
110735000 | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
2000000 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
8789000 | ||
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-86000 | ||
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
4638000 | ||
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
2392000 | ||
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
|||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
12144000 | ||
us-gaap |
Interest Paid
InterestPaid
|
3414000 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
10045000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
9818000 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
15860000 | ||
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
574000 | ||
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2251000 | ||
us-gaap |
Gain Loss On Sale Of Insurance Block
GainLossOnSaleOfInsuranceBlock
|
192000 | ||
us-gaap |
Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
|
0 | ||
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
434815000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
7846000 | ||
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
2966000 | ||
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-1318000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
24652000 | ||
us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
324080000 | ||
us-gaap |
Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
|
1869000 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
3000000 | ||
hzo |
Share Based Compensation Arrangement By Share Based Payment Award Participant Earning Percent During Offering Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardParticipantEarningPercentDuringOfferingPeriod
|
0.10 | pure | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2251000 | ||
us-gaap |
Proceeds From Legal Settlements
ProceedsFromLegalSettlements
|
7000000 | ||
us-gaap |
Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
|
21686000 | ||
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
13687000 | ||
us-gaap |
Interest Expense
InterestExpense
|
3355000 | ||
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
16000 | ||
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
39000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-10576000 | ||
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
9848000 | ||
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
5130000 | ||
us-gaap |
Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
|
3000000 | ||
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
98591000 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1029000 | ||
hzo |
Inventory Financing Floor Plan Financing Commitment
InventoryFinancingFloorPlanFinancingCommitment
|
30000000 | ||
hzo |
Full Service Yacht Repair Operations Number
FullServiceYachtRepairOperationsNumber
|
2 | Operations | |
hzo |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantForfeituresAndExpirationsInPeriod
|
215266 | shares | |
hzo |
Boat Brokerage Operations Number
BoatBrokerageOperationsNumber
|
2 | Operations | |
hzo |
Advances On Used Inventory From Used Inventory Date Period
AdvancesOnUsedInventoryFromUsedInventoryDatePeriod
|
P361D | ||
hzo |
Share Based Compensation Arrangement By Share Based Payment Award Award Implementation Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardImplementationDescription
|
Implementation of up to 10 annual offerings beginning on the first day of October starting in 2008, with each offering terminating on September 30 of the following year | ||
hzo |
Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Common Stock Value Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfCommonStockValuePerEmployee
|
25000 | ||
hzo |
Independent Recreational Boat Dealers In Number
IndependentRecreationalBoatDealersInNumber
|
5 | Dealer | |
hzo |
Cgi Facility Advances Term
CgiFacilityAdvancesTerm
|
P1Y | ||
hzo |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantInPeriod
|
shares | ||
hzo |
Payment Due To Used Inventory Subject To Curtailment
PaymentDueToUsedInventorySubjectToCurtailment
|
P6M | ||
hzo |
Cgi Facility Advances Outstanding Period
CgiFacilityAdvancesOutstandingPeriod
|
P18M | ||
hzo |
Advances On New Inventory From Original Invoice Date Period
AdvancesOnNewInventoryFromOriginalInvoiceDatePeriod
|
P1081D | ||
us-gaap |
Gain Loss On Sale Of Insurance Block
GainLossOnSaleOfInsuranceBlock
|
|||
us-gaap |
Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
|
0 | ||
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
387109000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4222000 | ||
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
578182 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
4.27 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
23455000 | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22684522 | shares | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1021000 | ||
us-gaap |
Gross Profit
GrossProfit
|
100242000 | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
2100000 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2581000 | ||
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-111000 | ||
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
|||
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
|||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
6019000 | ||
us-gaap |
Interest Paid
InterestPaid
|
3333000 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
4779000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
2697000 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-20536000 | ||
hzo |
Inventory Financing Additional Available Borrowings
InventoryFinancingAdditionalAvailableBorrowings
|
16600000 | ||
hzo |
Recreational Boat Dealers In Number
RecreationalBoatDealersInNumber
|
23 | Dealer | |
hzo |
Payment Due To New Inventory Subject To Curtailment
PaymentDueToNewInventorySubjectToCurtailment
|
P6M | ||
hzo |
Credit Facility Subject To Extension For Two One Year Periods
CreditFacilitySubjectToExtensionForTwoOneYearPeriods
|
2016-06-30 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.12 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23262704 | shares | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.12 | ||
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
1284000 | ||
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-1631000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-5751000 | ||
us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
286867000 | ||
us-gaap |
Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
|
|||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
1400000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2706000 | ||
us-gaap |
Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
|
-7035000 | ||
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
4744000 | ||
us-gaap |
Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
|
1400000 | ||
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
94223000 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-116000 | ||
CY2012Q3 | hzo |
Advances On Used Inventory From Used Inventory Date Period
AdvancesOnUsedInventoryFromUsedInventoryDatePeriod
|
P366D | |
CY2012Q3 | hzo |
Advances On New Inventory From Original Invoice Date Period
AdvancesOnNewInventoryFromOriginalInvoiceDatePeriod
|
P550D | |
CY2012Q3 | hzo |
Payment Due To New Inventory Subject To Curtailment
PaymentDueToNewInventorySubjectToCurtailment
|
P1Y | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
13851000 | ||
us-gaap |
Interest Expense
InterestExpense
|
3438000 | ||
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
498000 | ||
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
369000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3853000 | ||
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
-406000 | ||
CY2010 | hzo |
Economic Conditions Geographic Revenue Percentage
EconomicConditionsGeographicRevenuePercentage
|
0.54 | pure |
CY2011 | hzo |
Economic Conditions Geographic Revenue Percentage
EconomicConditionsGeographicRevenuePercentage
|
0.50 | pure |
CY2012 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y6M | |
CY2012 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
0.47 | pure |
CY2012 | hzo |
Economic Conditions Geographic Revenue Percentage
EconomicConditionsGeographicRevenuePercentage
|
0.49 | pure |
CY2012 | hzo |
Brunswick Marine Sales Excess Representation
BrunswickMarineSalesExcessRepresentation
|
0.07 | pure |
CY2012 | hzo |
Excess Representation Of Marine Sales Including Other Sales
ExcessRepresentationOfMarineSalesIncludingOtherSales
|
0.42 | pure |
CY2012Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.20 | |
CY2012Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23515737 | shares |
CY2012Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.20 | |
CY2012Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
705876 | shares |
CY2012Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22809861 | shares |
CY2012Q2 | us-gaap |
Gross Profit
GrossProfit
|
40290000 | |
CY2012Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
4613000 | |
CY2012Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
5631000 | |
CY2012Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4613000 | |
CY2012Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
151330000 | |
CY2012Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
111040000 | |
CY2012Q2 | us-gaap |
Interest Expense
InterestExpense
|
1018000 | |
CY2012Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
34659000 | |
CY2012Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
||
CY2013Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.56 | |
CY2013Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
24177020 | shares |
CY2013Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.58 | |
CY2013Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
788636 | shares |
CY2013Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
23388384 | shares |
CY2013Q2 | us-gaap |
Gross Profit
GrossProfit
|
46807000 | |
CY2013Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
12567000 | |
CY2013Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
13760000 | |
CY2013Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
13637000 | |
CY2013Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
175756000 | |
CY2013Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
128949000 | |
CY2013Q2 | us-gaap |
Interest Expense
InterestExpense
|
1193000 | |
CY2013Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
33047000 | |
CY2013Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1070000 |