VONORE, Tenn. (AP) _ MasterCraft Boat Holdings (MCFT) on Wednesday reported fiscal third-quarter net income of $17.6 million, after reporting a loss in the same period a year earlier.
The Vonore, Tennessee-based company said it had net income of 93 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.01 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The sport boats maker posted revenue of $147.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $138.9 million.
MasterCraft Boat Holdings, Inc. shares have risen 17% since the beginning of the year. The stock has more than doubled in the last 12 months.
The Associated Press