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MarineMax Q4 Profit Rises

MarineMax Inc. (HZO) reported that its net income for the fourth-quarter ended September 30, 2018, was $11.5 million or $0.50 per share, compared to net income of $3.9 million, or $0.17 per diluted share in the comparable period last year.

Excluding the impact from the gain in 2018 and the unusual items in 2017, adjusted earnings per share for the quarter ended September 30, 2018 increased 105% to $0.45, compared with adjusted diluted earnings per share for the same period last year.

For the quarter ended September 30, 2018, revenue increased over 23% to $309 million from $251 million for the comparable quarter last year. Same-store sales for the quarter grew 22%, on top of 5% growth for the comparable period last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share and revenues of $273.31 million for the quarter. Analysts' estimates typically exclude special items.

The company currently expects fully taxed earnings per share to be in the range of $1.85 to $1.95 for fiscal 2019. This compared to a non-GAAP adjusted diluted earnings per share of $1.70 in fiscal 2018. Analysts expect annual earnings of $1.68 per share.

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