Company: MCFT
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015130
Chunk: 33

Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 33
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 December 31, 2023, an immaterial number of shares were excluded from the computation of diluted earnings per share as the effect would have been anti-dilutive.Share Repurchase ProgramOn July 24, 2023, the Board of the Company authorized a share repurchase program under which the Company may repurchase up to $50.0 million of its outstanding shares of common stock. The authorization became effective upon the completion of the Company's previously existing $50.0 million stock repurchase authorization on August 9, 2023.During the three months ended December 29, 2024 and December 31, 2023, the Company repurchased 39,593 shares and 214,219 shares of common stock for $0.7 million and $4.4 million, respectively, in cash, excluding related fees and expenses. During the six months ended December 29, 2024 and December 31, 2023, the Company repurchased 223,222 shares and 455,983 shares of common stock for $4.2 million and $10.2 million, respectively, in cash, excluding related fees and expenses. As of December 29, 2024, $31.2 million remained available under the program.

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13.	SEGMENT INFORMATION

Reportable SegmentsDuring the fourth quarter of fiscal 2024, the Company changed the name of its “Crest” operating segment to “Pontoon.” The segment change had no impact on the composition of the Company's segments or on previously reported financial position, results of operations, cash flows, or segment operating results.Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the CODM in making decisions on how to allocate resources and assess performance. For the three and six months ended December 29, 2024, the Company’s CODM regularly assessed the operating performance of the Company’s boat brands under two operating and reportable segments: •The MasterCraft segment, consisting of our MasterCraft brand, produces boats at its Vonore, Tennessee facility. These are premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.•The Pontoon segment, consisting of our Crest and Balise brands, produces pontoon boats at its Owosso, Michigan facility. Pontoon boats are primarily used for general recreational boating.  Each segment distributes its products through its own independent dealer network. Each segment also has its own