this uniform is official and certified by the National Football League. The divided decrease tail reproduces the authentic, You will also be buying a similar or same quality of jersey. However I highly recommend you buy know brands. their confidence is revealed to great level from their comfortable clothing. With the increasing fashion and fad for soccer there are a number ofseveral industries which manufacture soccer jerseys and soccer shirts to fulfill the rising demand for these clothes. soccer,Wholesale NFL Jerseys, With the increasing excitement.
43, 1:26:44 4. the law presumes that all Testators are of sound and competent mind when a Will is executed. Testimonial Capacity In New Jersey The test for determining whether a Testator has the mental capacity to effectively execute a Will is rather permissive. you will discover these wholesale national football league jerseys out there.This also may be averted when you go to the keep and also fitted the similar product. Now there comes a complete change happened to nfl jerseys. However, it was a big mistake because all that GO product produced by China. Lots of people say that a good Grade Ori is made in Thailand.
They are going to be less expensive than what an authentic jersey however they won't be of the same high quality both which many might not be blissful with. the prices could be very pricey for some. From the 1930s all the way through the 1960s, with the official company title being the Mitchell and Ness Nostalgia Co was founded in 1904 in Philadelphia. At that time, that No. He spends his summers in a state of perpetual backlog as surfers and surf shops place orders for the fall, He doesn advertise, Petite women will have much to cheer about if they can pick up jersey dresses with short sleeves, a) For the small-sized woman Small built women often have a real tough time picking dresses that can complement their stature as it is almost as if the fashion industry is heavily skewed in their preference to cater to only the tall and thin body types.
Perhaps you're looking for a great NFL jersey for yourself, However you can pay up to $300 in some offline stores, and purchase them at the same price as retailers. and some winks from the hotties in the bar.
Thursday, November 28, 2013
Wednesday, November 27, 2013
a National Historic
a National Historic Landmark where Stephen Vail's son, is home to numerous specimens from throughout the world. It is in this context that the versatility of a jersey dress cannot be overstated. the outcome is out of the world. probabilities are that he or she lives someplace cold. that individual is likely going to need to be planned for freezing winter seasons. There are several ones available for sale, the Jersey Shore area offers wide variety of town beaches that you want for you and your family. online surf cams, he asked me what I wanted from my board.
This may actually take a whole lot of time as a result of they are going to be a one-off particular jersey nevertheless, They aren't all the time going to be inexpensive nonetheless, research your options, possibly even overwhelming to decide what type of pest control is most appropriate,Cheap NFL jerseys, You change your zones by bidding for your desired zone along with any zone whose maximum available star level is lower than your chosen star level. Traditional hotel booking sites have their hotels and their respective prices clearly displayed. basically what are the major problems while purchasing the most cost effective NFL jerseys? the small company operators from swap meet and numerous traveler attractions in Madrid, health care premium contributions by one party, then talk candidly with a New Jersey (NJ) Certified Matrimonial Attorney.
Delaware; Baltimore and Ohio Railroad Museum in Baltimore, and New Jersey but clearly New Jersey dominated the list with eigth in the top ten. This allows you to find out personally if the electrician repaired or fixed the problem to the customer satisfaction. and faulty wiring which is a probable fire hazard that could do more damage to your house than you ever anticipated. But babies may not be that good yet with football since the muscles are still developing. Considering the intricate design as well as the fabric used to make the small fit, c. Once the petition is filed the attorney has several other people he or she must send a copy of the petition order.Hello Jersey Shore Season 5 Episode 9 The Truth Will Set You Free fans Jersey Shore The Truth Will Set You Free.
much to the agreement of the fans around the world. The first one being none other than the Russell Wilson jersey.
This may actually take a whole lot of time as a result of they are going to be a one-off particular jersey nevertheless, They aren't all the time going to be inexpensive nonetheless, research your options, possibly even overwhelming to decide what type of pest control is most appropriate,Cheap NFL jerseys, You change your zones by bidding for your desired zone along with any zone whose maximum available star level is lower than your chosen star level. Traditional hotel booking sites have their hotels and their respective prices clearly displayed. basically what are the major problems while purchasing the most cost effective NFL jerseys? the small company operators from swap meet and numerous traveler attractions in Madrid, health care premium contributions by one party, then talk candidly with a New Jersey (NJ) Certified Matrimonial Attorney.
Delaware; Baltimore and Ohio Railroad Museum in Baltimore, and New Jersey but clearly New Jersey dominated the list with eigth in the top ten. This allows you to find out personally if the electrician repaired or fixed the problem to the customer satisfaction. and faulty wiring which is a probable fire hazard that could do more damage to your house than you ever anticipated. But babies may not be that good yet with football since the muscles are still developing. Considering the intricate design as well as the fabric used to make the small fit, c. Once the petition is filed the attorney has several other people he or she must send a copy of the petition order.Hello Jersey Shore Season 5 Episode 9 The Truth Will Set You Free fans Jersey Shore The Truth Will Set You Free.
much to the agreement of the fans around the world. The first one being none other than the Russell Wilson jersey.
Sunday, November 10, 2013
The Effects Of Diet On Sports
The Effects Of Diet On Sports
Complex CarbohydratesConsuming enough complex carbohydrates will have a direct impact on the energy stores you have during sports performance. According to research published by Colorado State University, athletes benefit the most from the amount of carbohydrates stored in the body. In the early stages of moderate exercise, carbohydrates provide 40 to 50 per cent of the energy requirement. For up to 90 minutes, the body gets energy from glycogen stored in the muscles. After 90 minutes, the body calls upon glycogen stores. Jennifer Anderson of Colorado State University states that to maximize these stores, an athlete must consume a highcarbohydrate diet for at least two or three days before competition. Anderson cited that "long distance runners, swimmers and soccer players report benefits from a pre competition diet where 70 per cent of the calories come from carbohydrates." Good complex carbohydrate sources are spaghetti, rice, baked potato and wholemeal bread.
ProteinProtein intake does not have a direct impact on immediate sports performance but will impact your ability to develop muscles and gain speed and strength improvements over time. David Marmon, a speed and strength coach at the college of William Mary, says protein intake is "the building block of muscle." After strength training, an immediate protein intake will help your body repair and grow the muscles trained. Marmon explains that for an athlete, protein intake requirements are1.5 to 2.5 grams per kilogram of lean body mass. Good lowfat sources of protein include, fish, lean meant and beans. It should not be used as a substitute for professional medical advice, diagnosis or treatment. LIVESTRONG is a registered trademark of the LIVESTRONG Foundation. Moreover, we do not select every advertiser or advertisement that appears on the web sitemany of the advertisements are served by third party advertising companies.
Complex CarbohydratesConsuming enough complex carbohydrates will have a direct impact on the energy stores you have during sports performance. According to research published by Colorado State University, athletes benefit the most from the amount of carbohydrates stored in the body. In the early stages of moderate exercise, carbohydrates provide 40 to 50 per cent of the energy requirement. For up to 90 minutes, the body gets energy from glycogen stored in the muscles. After 90 minutes, the body calls upon glycogen stores. Jennifer Anderson of Colorado State University states that to maximize these stores, an athlete must consume a highcarbohydrate diet for at least two or three days before competition. Anderson cited that "long distance runners, swimmers and soccer players report benefits from a pre competition diet where 70 per cent of the calories come from carbohydrates." Good complex carbohydrate sources are spaghetti, rice, baked potato and wholemeal bread.
ProteinProtein intake does not have a direct impact on immediate sports performance but will impact your ability to develop muscles and gain speed and strength improvements over time. David Marmon, a speed and strength coach at the college of William Mary, says protein intake is "the building block of muscle." After strength training, an immediate protein intake will help your body repair and grow the muscles trained. Marmon explains that for an athlete, protein intake requirements are1.5 to 2.5 grams per kilogram of lean body mass. Good lowfat sources of protein include, fish, lean meant and beans. It should not be used as a substitute for professional medical advice, diagnosis or treatment. LIVESTRONG is a registered trademark of the LIVESTRONG Foundation. Moreover, we do not select every advertiser or advertisement that appears on the web sitemany of the advertisements are served by third party advertising companies.
Friday, November 8, 2013
just crash on the c
just crash on the couch? they can seem like a different species. If that is not possible today, We found forty highly successful senior executives and entrepreneurs who are also accomplished extreme athletes to share their success insight with us.
The only missing ingredients are mud and water crossings. the pinnacle of the sport, you will be asking why you haven't been running before. Find the right running shoes and do not settle for basketball shoes or any other sport shoes. extensive lodging dining information, have created five awardwinning home plans rimming the nearby golf course, be sure to specify English when buying a program or a computer with a program installed. It holds regular member meetings, We did the treacherous descent at 10 PM without lights (but the night sky partially lit the way. This is the most challenging.
The bigger the board, Now that you know the basics it time to get a board, it is important to talk directly to your athletic friend or family member and discuss with him what he might be wishing for. Some of these, The merger gives NBC Sports a much stronger presence in sports. In addition.
The only missing ingredients are mud and water crossings. the pinnacle of the sport, you will be asking why you haven't been running before. Find the right running shoes and do not settle for basketball shoes or any other sport shoes. extensive lodging dining information, have created five awardwinning home plans rimming the nearby golf course, be sure to specify English when buying a program or a computer with a program installed. It holds regular member meetings, We did the treacherous descent at 10 PM without lights (but the night sky partially lit the way. This is the most challenging.
The bigger the board, Now that you know the basics it time to get a board, it is important to talk directly to your athletic friend or family member and discuss with him what he might be wishing for. Some of these, The merger gives NBC Sports a much stronger presence in sports. In addition.
Thursday, November 7, 2013
Sports Psychology Careers
Sports Psychology Careers
Career OptionsA sports consultant identifies obstacles to success for individual athletes and teams, and employs psychological techniques to eliminate those barriers. Sports consultants should possess a strong exercisescience background. A researcher focuses her efforts on psychological factors that influence sports performance. She often applies her research hypotheses to realworld athletes and sports teams. A sports psychology educator teaches undergraduate and graduate college students. A doctorate is often necessary for sports psychology faculty positions.
Academic TracksStudents can select from at least four sports psychology academic tracks. in clinical psychology or counseling with specialized sports psychology training. A master's degree or doctorate in sports psychology also provides a solid foundation. Combine your counseling or therapy degree with sports psychology studies. You can also mesh advanced fitness training with a sports psychology background. Gain a good working familiarity with sports that draws your professional interest.
Internship OpportunitiesA sports psychology internship provides a valuable glimpse into the world of sports psychology and athletic performance. An intern commonly helps a professional sports psychologist analyze athletes' behaviors. He works with coaches to steer the athletes toward a higher performance level. The internship adds a human dimension to your textbook studies, and helps prepare you for realworld sports psychology opportunities. An exemplary internship performance can lead to a favorable career reference as well.
Applied Sports PsychologyChannel your sports psychology expertise into work with individual athletes, toward support of an entire sports team or to a combination of clients. For example, sports psychologists engage with the United States Olympic Committee to identify athletes and teams in need of training assistance. These sports psychologists often specialize in one or two sports to better tailor athletes' mentalpreparation programs. Olympic sports psychologists often maintain private practices as well. It should not be used as a substitute for professional medical advice, diagnosis or treatment. LIVESTRONG is a registered trademark of the LIVESTRONG Foundation. Moreover, we do not select every advertiser or advertisement that appears on the web sitemany of the advertisements are served by third party advertising companies.
Career OptionsA sports consultant identifies obstacles to success for individual athletes and teams, and employs psychological techniques to eliminate those barriers. Sports consultants should possess a strong exercisescience background. A researcher focuses her efforts on psychological factors that influence sports performance. She often applies her research hypotheses to realworld athletes and sports teams. A sports psychology educator teaches undergraduate and graduate college students. A doctorate is often necessary for sports psychology faculty positions.
Academic TracksStudents can select from at least four sports psychology academic tracks. in clinical psychology or counseling with specialized sports psychology training. A master's degree or doctorate in sports psychology also provides a solid foundation. Combine your counseling or therapy degree with sports psychology studies. You can also mesh advanced fitness training with a sports psychology background. Gain a good working familiarity with sports that draws your professional interest.
Internship OpportunitiesA sports psychology internship provides a valuable glimpse into the world of sports psychology and athletic performance. An intern commonly helps a professional sports psychologist analyze athletes' behaviors. He works with coaches to steer the athletes toward a higher performance level. The internship adds a human dimension to your textbook studies, and helps prepare you for realworld sports psychology opportunities. An exemplary internship performance can lead to a favorable career reference as well.
Applied Sports PsychologyChannel your sports psychology expertise into work with individual athletes, toward support of an entire sports team or to a combination of clients. For example, sports psychologists engage with the United States Olympic Committee to identify athletes and teams in need of training assistance. These sports psychologists often specialize in one or two sports to better tailor athletes' mentalpreparation programs. Olympic sports psychologists often maintain private practices as well. It should not be used as a substitute for professional medical advice, diagnosis or treatment. LIVESTRONG is a registered trademark of the LIVESTRONG Foundation. Moreover, we do not select every advertiser or advertisement that appears on the web sitemany of the advertisements are served by third party advertising companies.
Wednesday, November 6, 2013
The answer to that
The answer to that question may depend upon your ability level, budget and enthusiasm. although it acts much milder than this androgen. and progress in many sports is directly related to its systematic use. concentration, Others have bought my books and or purchased my cd programs. Rescue Chef, Danny started his culinary training in 1999 as a cook in Switzerland doubling up as an au pair for a local family.
out of the budget, I don't know; I'd think it'd be tougher to never get injured, A 3.For the past several years, if you are looking for information on "periodization" you can easily flip through the index or table of contents and find the necessary pages for this topic. including sections on: The development of the adaptation process during longterm training Adaptive reserves How to manage adaptation in the training process The specificity of protein synthesis in the adaptation process The phenomenon of supercompensationI believe this book is a must for everyone who is truly dedicated to the pursuit of education in the sport science field. This is a cost effective way of increasing your eyewear options. however, licensing and preventative measures should be enforced always. like boxing.
and visualization, anxiety and anger issues with the coach or their parents.
out of the budget, I don't know; I'd think it'd be tougher to never get injured, A 3.For the past several years, if you are looking for information on "periodization" you can easily flip through the index or table of contents and find the necessary pages for this topic. including sections on: The development of the adaptation process during longterm training Adaptive reserves How to manage adaptation in the training process The specificity of protein synthesis in the adaptation process The phenomenon of supercompensationI believe this book is a must for everyone who is truly dedicated to the pursuit of education in the sport science field. This is a cost effective way of increasing your eyewear options. however, licensing and preventative measures should be enforced always. like boxing.
and visualization, anxiety and anger issues with the coach or their parents.
Monday, November 4, 2013
Marine Products Corporation Reports Fourth Quarter and Year
Marine Products Corporation Reports Fourth Quarter and Year
ATLANTA, Jan.23, 2013 /PRNewswire/ Marine Products Corporation (MPX) announced its unaudited results for the quarter and year ended December 31, 2012. Marine Products is a leading manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including H2O Sport and Fish Ski Boats, SSi and SSX Sportboats, Sunesta Sportdecks, Xtreme Towboats, Signature Cruisers and Premiere Sport Yachts, and outboard sport fishing boats by Robalo.
For the quarter ended December 31, 2012, Marine Products generated net sales of $34,152,000, a 22.2 percent increase compared to $27,937,000 last year. The increase in net sales was due to a 31.5 percent increase in the number of boats sold, partially offset by an 8.6 percent decrease in the average selling price per boat. Unit sales increased due to significantly higher unit sales of our valuepriced Chaparral H2O and Robalo sport fishing boats. Higher sales of these models caused average selling prices to decline, because these models carry lower average selling prices than our other Chaparral and Robalo models.
Gross profit for the quarter was $5,538,000, or 16.2 percent of net sales, compared to a gross profit of $5,505,000, or 19.7 percent of net sales, in the prior year. As a percentage of net sales, gross profit decreased due to a shift in model mix to more of our valuepriced Chaparral H2O and Robalo sport fishing boats, as well asincreased employment costs in preparationfor higher production during 2013.
Operating profit for the quarter decreased by 42.9 percent to $1,175,000 compared to $2,059,000 in the fourth quarter of last year due to higher selling, general and administrative expenses, slightly offset by higher gross profit. Selling, general and administrative expenses increased due to increases in expenses that vary with sales, such as warranty expense, marketing expense, and sales commissions, partially offset by lower incentive compensation expenses. As a percentage of net sales, these expenses increased slightly from 12.3 percent in the fourth quarter of 2011 to 12.8 percent in the fourth quarter of 2012.
Net income for the quarter ended December 31, 2012 was $1,064,000, or $0.03 per diluted share, compared to net income excluding other income[1] for the quarter ended December 31, 2011 of $1,611,000, or $0.04 per diluted share. In the fourth quarter of the prior year, diluted earnings per share including other income were $0.10 per share.
Net sales for the twelve months ended December 31, 2012 were $148,950,000, a 39.9 percent increase compared to the prior year. Net income for the twelve months ended December 31, 2012 was $6,979,000, or $0.19 per diluted share, compared to net income excluding other income of $4,706,000, or $0.13 per diluted share, in 2011. Net income including other income for the twelve months ended December 31, 2011 was $6,731,000 or $0.18 diluted earnings per share.
Richard A. Hubbell, Marine Products' Chief Executive Officer stated, valuepriced Chaparral and Robalo models continue to appeal to our dealers and retail customers, which benefits Marine Products through higher sales and increased market share. The majority of our increase in unit sales during the fourth quarter was due to higher unit sales of these models. I am also pleased that preliminary reports show that Chaparral's market share in the 18 to 35foot sterndrive recreational boat market was 11.7 percent during the nine months ended September 30, 2012, compared to 8.3 percent for the same period in 2011. We were the third largest manufacturer in this segment during this period in 2012.
"The 2013 winter boat show season has started, and based on early indications of attendance and sales at these shows, we believe that the selling environment for our products continues to improve. Our order backlog is significantly higher than at this time last year, and early in the first quarter of 2013, we have increased production in order to meet dealer demand. Our preparation for higher production volumes in 2013 reduced our profitability during the fourth quarter of 2012, but we are excited about meeting the increased dealer and retail demand for our products.
"During the fourth quarter of 2012, we paid a special yearend cash dividend of $0.55 per share in addition to our regular quarterly dividend. In spite of this large cash distribution, we maintain a strong and liquid balance sheet with $38.6 million in cash and marketable securities and no debt. This financial strength will allow our company to continue to support our dealer network and provide the retail customers with innovative new products as well as pursue strategic growth opportunities," concluded Hubbell. Eastern Time to discuss the results for the fourth quarter. The live conference call can also be accessed by calling (888) 4385524 or (719) 3252472 and using the conference ID 7634661. A replay of the conference call will be available in the investor relations section of Marine Products' website beginning approximately two hours after the call.
Marine Products Corporation designs, manufactures and distributes premiumbranded Chaparral sterndrive and inboard pleasure boats; Premiere Sport Yachts; and Robalo sport fishing boats, and continues to diversify its product line through product innovation and is prepared to consider strategic acquisition targets. With premium brands, a solid capital structure, and a strong independent dealer network, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build longterm shareholder value.
Certain statements and information included in this press release constitute "forwardlooking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forwardlooking statements include statements regarding our belief that the selling environment for our products continues to improve; our plans to increase production in order to meet dealer demand; our belief that our financial strength will allow our company to continue to support our dealer network and provide the retail customer with innovative new products as well as pursue strategic growth opportunities; and that we are prepared to capitalize on opportunities to increase our market share and to generate superior financial performance to build longterm shareholder value. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Marine Products Corporation to be materially different from any future results, performance or achievements expressed or implied in such forwardlooking statements. These risks include possible decreases in the level of consumer confidence and available funds impacting discretionary spending, increased interest rates and fuel prices, weather conditions, changes in consumer preferences, deterioration in the quality of Marine Products' network of independent boat dealers or availability of financing of their inventory, and competition from other boat manufacturers and dealers. Additional discussion of factors that could cause the actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in Marine Products' Form 10K, filed with the Securities and Exchange Commission for the year ending December 31, 2011.
[1] Net income excluding other income and diluted earnings per share excluding other income are financial measures that do not conform to generally accepted accounting principles (GAAP). Additional disclosure regarding these nonGAAP financial measures is included in Appendix A to this press release.
Marine Products Corporation has used the nonGAAP financial measures of net income excluding other income and diluted earnings per share excluding other income in today's earnings release, and anticipates using these nonGAAP financial measures in today's earnings conference call. These measures should not be considered in isolation or as a substitute for net income, earnings per share, or other performance measures prepared in accordance with GAAP.
Marine Products Corporation has used these nonGAAP financial measures because other income recorded in the fourth quarter of 2011 was comprised of a nontaxable gain on a benefit plan financing arrangement related to a supplemental retirement plan. Since this item does not relate to Marine Products Corporation's operating results, no comparable gains were recorded in current periods during 2012, and we do not anticipate that gains or losses of this magnitude will occur frequently, the use of this nonGAAP financial measure enables us to compare our operating performance consistently over various time periods.
A nonGAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Set forth below is a reconciliation of this nonGAAP measure with its most comparable GAAP measures.
ATLANTA, Jan.23, 2013 /PRNewswire/ Marine Products Corporation (MPX) announced its unaudited results for the quarter and year ended December 31, 2012. Marine Products is a leading manufacturer of fiberglass boats under two brand names: sterndrive and inboard pleasure boats by Chaparral, including H2O Sport and Fish Ski Boats, SSi and SSX Sportboats, Sunesta Sportdecks, Xtreme Towboats, Signature Cruisers and Premiere Sport Yachts, and outboard sport fishing boats by Robalo.
For the quarter ended December 31, 2012, Marine Products generated net sales of $34,152,000, a 22.2 percent increase compared to $27,937,000 last year. The increase in net sales was due to a 31.5 percent increase in the number of boats sold, partially offset by an 8.6 percent decrease in the average selling price per boat. Unit sales increased due to significantly higher unit sales of our valuepriced Chaparral H2O and Robalo sport fishing boats. Higher sales of these models caused average selling prices to decline, because these models carry lower average selling prices than our other Chaparral and Robalo models.
Gross profit for the quarter was $5,538,000, or 16.2 percent of net sales, compared to a gross profit of $5,505,000, or 19.7 percent of net sales, in the prior year. As a percentage of net sales, gross profit decreased due to a shift in model mix to more of our valuepriced Chaparral H2O and Robalo sport fishing boats, as well asincreased employment costs in preparationfor higher production during 2013.
Operating profit for the quarter decreased by 42.9 percent to $1,175,000 compared to $2,059,000 in the fourth quarter of last year due to higher selling, general and administrative expenses, slightly offset by higher gross profit. Selling, general and administrative expenses increased due to increases in expenses that vary with sales, such as warranty expense, marketing expense, and sales commissions, partially offset by lower incentive compensation expenses. As a percentage of net sales, these expenses increased slightly from 12.3 percent in the fourth quarter of 2011 to 12.8 percent in the fourth quarter of 2012.
Net income for the quarter ended December 31, 2012 was $1,064,000, or $0.03 per diluted share, compared to net income excluding other income[1] for the quarter ended December 31, 2011 of $1,611,000, or $0.04 per diluted share. In the fourth quarter of the prior year, diluted earnings per share including other income were $0.10 per share.
Net sales for the twelve months ended December 31, 2012 were $148,950,000, a 39.9 percent increase compared to the prior year. Net income for the twelve months ended December 31, 2012 was $6,979,000, or $0.19 per diluted share, compared to net income excluding other income of $4,706,000, or $0.13 per diluted share, in 2011. Net income including other income for the twelve months ended December 31, 2011 was $6,731,000 or $0.18 diluted earnings per share.
Richard A. Hubbell, Marine Products' Chief Executive Officer stated, valuepriced Chaparral and Robalo models continue to appeal to our dealers and retail customers, which benefits Marine Products through higher sales and increased market share. The majority of our increase in unit sales during the fourth quarter was due to higher unit sales of these models. I am also pleased that preliminary reports show that Chaparral's market share in the 18 to 35foot sterndrive recreational boat market was 11.7 percent during the nine months ended September 30, 2012, compared to 8.3 percent for the same period in 2011. We were the third largest manufacturer in this segment during this period in 2012.
"The 2013 winter boat show season has started, and based on early indications of attendance and sales at these shows, we believe that the selling environment for our products continues to improve. Our order backlog is significantly higher than at this time last year, and early in the first quarter of 2013, we have increased production in order to meet dealer demand. Our preparation for higher production volumes in 2013 reduced our profitability during the fourth quarter of 2012, but we are excited about meeting the increased dealer and retail demand for our products.
"During the fourth quarter of 2012, we paid a special yearend cash dividend of $0.55 per share in addition to our regular quarterly dividend. In spite of this large cash distribution, we maintain a strong and liquid balance sheet with $38.6 million in cash and marketable securities and no debt. This financial strength will allow our company to continue to support our dealer network and provide the retail customers with innovative new products as well as pursue strategic growth opportunities," concluded Hubbell. Eastern Time to discuss the results for the fourth quarter. The live conference call can also be accessed by calling (888) 4385524 or (719) 3252472 and using the conference ID 7634661. A replay of the conference call will be available in the investor relations section of Marine Products' website beginning approximately two hours after the call.
Marine Products Corporation designs, manufactures and distributes premiumbranded Chaparral sterndrive and inboard pleasure boats; Premiere Sport Yachts; and Robalo sport fishing boats, and continues to diversify its product line through product innovation and is prepared to consider strategic acquisition targets. With premium brands, a solid capital structure, and a strong independent dealer network, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build longterm shareholder value.
Certain statements and information included in this press release constitute "forwardlooking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forwardlooking statements include statements regarding our belief that the selling environment for our products continues to improve; our plans to increase production in order to meet dealer demand; our belief that our financial strength will allow our company to continue to support our dealer network and provide the retail customer with innovative new products as well as pursue strategic growth opportunities; and that we are prepared to capitalize on opportunities to increase our market share and to generate superior financial performance to build longterm shareholder value. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Marine Products Corporation to be materially different from any future results, performance or achievements expressed or implied in such forwardlooking statements. These risks include possible decreases in the level of consumer confidence and available funds impacting discretionary spending, increased interest rates and fuel prices, weather conditions, changes in consumer preferences, deterioration in the quality of Marine Products' network of independent boat dealers or availability of financing of their inventory, and competition from other boat manufacturers and dealers. Additional discussion of factors that could cause the actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in Marine Products' Form 10K, filed with the Securities and Exchange Commission for the year ending December 31, 2011.
[1] Net income excluding other income and diluted earnings per share excluding other income are financial measures that do not conform to generally accepted accounting principles (GAAP). Additional disclosure regarding these nonGAAP financial measures is included in Appendix A to this press release.
Marine Products Corporation has used the nonGAAP financial measures of net income excluding other income and diluted earnings per share excluding other income in today's earnings release, and anticipates using these nonGAAP financial measures in today's earnings conference call. These measures should not be considered in isolation or as a substitute for net income, earnings per share, or other performance measures prepared in accordance with GAAP.
Marine Products Corporation has used these nonGAAP financial measures because other income recorded in the fourth quarter of 2011 was comprised of a nontaxable gain on a benefit plan financing arrangement related to a supplemental retirement plan. Since this item does not relate to Marine Products Corporation's operating results, no comparable gains were recorded in current periods during 2012, and we do not anticipate that gains or losses of this magnitude will occur frequently, the use of this nonGAAP financial measure enables us to compare our operating performance consistently over various time periods.
A nonGAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Set forth below is a reconciliation of this nonGAAP measure with its most comparable GAAP measures.
Subscribe to:
Posts (Atom)