ORLANDO, FL (September 13, 2016) - Today Correct Craft announced that the 2016 model year was the best year in the company’s ninety-one year history.
Correct Craft’s growth strategy, which is a combination of internal optimization and targeted acquisitions, resulted in significant growth for the model year ended June 30, 2016 as revenues increased 47% and net income increased 45% compared to the 2015 model year (which was Correct Craft’s previous best year ever).
Every Correct Craft company not only experienced growth in both sales and profitability, but also undertook significant improvement initiatives:
Nautique Boats completed an $8M expansion of their facilities and continues to increase production to build the industry’s leading product. Just this week, boating customers once again recognized Nautique as having the industry’s best wakeboard and wakesurf boats.
Centurion Boats and Supreme Boats continue to completely reimagine everything they do since their acquisition by Correct Craft. Centurion and Supreme are experiencing significant dealer and retail growth both domestically and internationally. Dealers are energized with new product and employees are energized with significant internal improvements.
Pleasurecraft Engine Group has significantly upgraded their processes and plant over the past two years and continues to produce the industry’s leading engines.
Bass Cat and Yar-Craft have aligned with key industry partners and have seen growth in both sales and profitability.
Aktion Parks has two of the world’s top boat and cable parks and recently announced the opening of a third park in Florida.
SeaArk, Correct Craft’s newest acquisition, is investing heavily in capital improvement in order to shorten its lengthy order backlog and provide customers with the boats they are demanding.
Correct Craft CEO Bill Yeargin stated, “Our team is highly energized by the growth we are experiencing and the progress we are making at our Correct Craft companies, each of which are profitable and growing.” “Even more importantly, we are thrilled with the cultural improvements we have been able to implement at each of our Correct Craft companies. While we want to grow and be profitable, it is equally important to us that we treat people well and develop leaders while working to make life better for our customers, employees, dealers, vendors, strategic partners, and people around the world who we can help,” Yeargin added.
About Correct Craft: Celebrating 91 years of excellence in the marine industry, Correct Craft is a Florida-based company with global operations. The Correct Craft family includes Nautique, Centurion, Supreme, Bass Cat, Yar-Craft, and SeaArk boat companies, Pleasurecraft Marine Engine Group, and Aktion Parks. For more information please visit www.correctcraft.com.