Marine Products Q1 net sales $76.6M (-2.2% YoY); EPS $0.21 vs $0.24

MARINE PRODUCTS CORP

2022-Q1 EPS reported $0.21 revenue$76,612,000

Net sales $76.6M, down 2.2% YoY; diluted EPS $0.21 vs $0.24 in prior year quarter.
Gross margin improved to 24.0% from 23.6% on favorable mix and price increases.
Unit sales fell 20.9% but average selling price rose 23.3% due to price hikes and mix.
Operating profit $9.2M, down 8.7% vs $10.0M a year ago; SG&A up to $9.2M.
Management cites supply chain challenges and higher boat show costs as key headwinds.

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