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Boat Dealer Struggles With Declining Sales

Tribune file photo by CANDACE C. MUNDY

Boats outside the showroom at MarineMax in 2006.

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By MICHAEL SASSO

msasso@tampatrib.com

Published: October 15, 2008

TAMPA - It isn't just car dealers who are struggling to unload vehicles. Sales are down by nearly half at the nation's largest boat dealer.

On Nov. 11, Clearwater-based MarineMax Inc. will announce fourth quarter results and expects its sales to be down 48 percent when compared with the same quarter of last year, the company said Tuesday. It expects to report fourth-quarter revenue of $165 million versus revenues of $318 million in the fourth quarter of 2007.

MarineMax also expects to report a loss of 58 cents to 68 cents per share for the quarter compared with a net profit of 35 cents per share last year.

MarineMax is America's biggest recreational boat seller and the nation's leading retailer of the Sea Ray brand. It operates 80 retail locations around the country, and has closed seven stores recently as it grapples with the economic downturn, a company release said.

Its shares also have been hammered. A MarineMax representative could not be reached for comment Tuesday.

Reporter Michael Sasso can be reached at (813) 259-7865.

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