Company: MCFT
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015130
Chunk: 8

Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 2
Chunk 8
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3 in Notes to the unaudited condensed consolidated financial statements for more information on discontinued operations.

Overview

As a result of economic and industry headwinds at the end of our key selling season, we adjusted our production levels at the outset of fiscal 2025 to allow for improvements in overall dealer inventory levels. These lower production levels resulted in decreased net sales and reduced gross margins compared to our fiscal 2024 results due to lower fixed cost absorption. As we navigate these headwinds facing our business, we remain committed to aligning our production levels with market demand while also maintaining operational flexibility.

19

Results of Continuing Operations

Consolidated Results

The table below presents our consolidated results of operations for the three and six months ended: 

    Three Months Ended

    2025 vs. 2024

    Six Months Ended

    2025 vs. 2024

    December 29,

    December 31,

    %

    December 29,

    December 31,

    %

    2024

    2023

    Change

    Change

    2024

    2023

    Change

    Change

    (Dollar amounts in thousands)

    Consolidated statements of operations:

    NET SALES
     
    $
    63,368

    $
    89,750

    $
    (26,382
    )

    (29.4
    %)
     
    $
    128,727

    $
    184,055

    $
    (55,328
    )

    (30.1
    %)

    COST OF SALES

    52,476

    68,812

    (16,336
    )

    (23.7
    %)

    106,037

    140,642

    (34,605
    )

    (24.6
    %)

    GROSS PROFIT

    10,892

    20,938

    (10,046
    )

    (48.0
    %)

    22,690

    43,413

    (20,723
    )

    (47.7
    %)

    OPERATING EXPENSES:

    Selling and marketing

    2,824

    2,500

    324

    13.0
    %

    5,698

    5,584

    114