Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2019 Commission File No. 1-16263 MARINE PRODUCTS CORPORATION (exact name of registrant as specified in its charter) Delaware 58-2572419 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 2801 Buford Highway, Suite 300, Atlanta, ...

Marine Products Corporation (NYSE:MPX) Q3 2019 Earnings Conference Call October 23, 2019 8:00 AM ET Company Participants Jim Landers ??? Vice President-Corporate Finance Rick Hubbell ??? President and Chief Executive Officer Ben Palmer ??? Chief Financial Officer Conference Call Participants Eric Wold ??? B. Riley Shawn Boyd ??? Next Mark Capital Operator Good morning, and thank you for joining us for Marine Products Corporation???s Third Quarter 2019 Financial Earnings Conference Call. Today???s call will ...

Financial Performance - Net sales for the second quarter of 2019 increased by $1.7 million or 1.9% compared to the same period in 2018, driven by a 10.0% increase in average selling price per boat, despite a 7.6% decrease in unit sales [81]. - Operating income for the second quarter of 2019 rose by $0.2 million or 2.0% compared to the same period in 2018, primarily due to higher gross profit, partially offset by increased selling, general and administrative expenses [86]. - The average selling price per boat for the second quarter of 2019 was $52.9 thousand, up from $48.1 thousand in the same period of 2018, reflecting a favorable model mix [81]. - Domestic net sales increased by 7.0% to $83.2 million in the second quarter of 2019, while international sales decreased by 40.5% to $5.5 million due to tariffs and a strong U.S. dollar [81]. - For the six months ended June 30, 2019, net sales increased by $7.2 million or 4.4% compared to the same period in 2018, with domestic sales up 7.3% to $160.1 million [88]. Expenses and Costs - Selling, general and administrative expenses for the second quarter of 2019 were $9.0 million, an increase of 8.7% from $8.3 million in the same period of 2018, primarily due to higher sales-related expenses and research and development costs [85]. - The cost of goods sold for the second quarter of 2019 was $68.3 million, representing 77.0% of net sales, down from 77.6% in the same period of 2018 [84]. Tax and Cash Flow - The effective tax rate for the second quarter of 2019 was 18.3%, down from 20.0% in the same period of 2018, primarily due to higher tax-exempt investment gains [87]. - Marine Products expects to continue benefiting from the Tax Cuts and Jobs Act, estimating an annual effective tax rate in the low 20% range for 2019 [78]. - Cash and cash equivalents increased to $13.0 million as of June 30, 2019, compared to $8.7 million at December 31, 2018, due to a change in investment strategy [95]. - Cash provided by investing activities for the six months ended June 30, 2019, was approximately $6.0 million, a slight decrease from $6.2 million used in the same period in 2018 [98]. - Cash used for financing activities increased by approximately $4.0 million for the six months ended June 30, 2019, primarily due to a 20% increase in quarterly common stock cash dividends and increased share repurchases [99]. Share Repurchase and Capital Expenditures - The company expects capital expenditures in 2019 to be approximately $3.0 million, with $1.7 million already spent by June 30, 2019 [101]. - As of June 30, 2019, the company has repurchased a total of 6,407,295 shares under its stock repurchase program, with 1,842,705 shares remaining available for repurchase [103]. - The company has a maximum repurchase obligation of approximately $22.1 million as of June 30, 2019, under various financing institutions [106]. Future Outlook and Market Conditions - The company anticipates stable recreational boating retail demand in 2019 and plans to continue emphasizing its Surf Series and larger boat models to expand its customer base [113]. - The company believes that the liquidity from existing cash, cash equivalents, and marketable securities will be sufficient to meet its requirements for at least the next twelve months [113]. - The company has noted that higher inflation and interest rates could lead to increased costs of boat ownership, potentially affecting consumer purchasing decisions [112]. - The company has not experienced material repurchases of inventory under contractual agreements during the six months ended June 30, 2019 [104].

Marine Products Corporation (NYSE:MPX) Q2 2019 Results Conference Call July 24, 2019 8:00 AM ET Company Participants Jim Landers - Vice President of Corporate Finance Rick Hubbell - President and Chief Executive Officer Ben Palmer - Chief Financial Officer Conference Call Participants Eric Wold - B. Riley FBR Ronald Bookbinder - IFS Securities Operator Good morning, and thank you for joining us for Marine Products Corporation's second-quarter 2019 financial earnings conference call. Today's call will be hos ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2019 2801 Buford Highway, Suite 520, Atlanta, Georgia 30329 (Address of principal executive offices) (zip code) Registrant's telephone number, including area code — (404) 321-7910 Securities registered pursuant to Section 12(b) of the Act: | Title of each class: | Trading Symbol | Name of each exchan ...

Marine Products Corporation (NYSE:MPX) Q1 2019 Results Earnings Conference Call April 24, 2019 8:00 AM ET Company Participants Rick Hubbell - President and CEO Ben Palmer - Chief Financial Officer Jim Landers - Vice President of Corporate Finance Conference Call Participants Eric Wold - B. Riley Ronald Bookbinder - IFS Securities Operator Ladies and gentlemen, good morning, and thank you for joining us for Marine Products Corporation's First Quarter 2019 Financial Earnings Conference Call. Today's call wil ...

Marine Products Corporation Investor Relations Update First Quarter 2019 Presentation Forward Looking Statements This presentation contains statements that constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995, including all statements that look forward in time or express management's beliefs, expectations or hopes. In particular, such statements include, without limitation: our belief that international sales will continue to be weak in 2019; statements regardin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ¨ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2018 Commission File No. 1-16263 MARINE PRODUCTS CORPORATION Delaware (State of Incorporation) 58-2572419 (I.R.S. Employer Identification No.) 2801 BUFORD HIGHWAY NE, SUITE 520 ATLANTA, GEORGIA 30329 (4 ...

Financial Data and Key Metrics Changes - Net sales for Q4 2018 decreased by 5.4% to $62.1 million compared to Q4 2017, driven by an 18.1% decrease in units sold, partially offset by a 14.2% increase in average selling price per boat [10][14] - Gross profit for Q4 2018 was $13 million, a decrease of 9.4% year-over-year, with gross margin declining to 21% from 21.9% in Q4 2017 due to manufacturing cost inefficiencies [15] - Net income for Q4 2018 was $4.7 million, a decrease of 6.2% compared to $5 million in Q4 2017, with diluted earnings per share of $0.14, down from $0.15 [17] - Cash and marketable securities at the end of Q4 2018 were $16.4 million, a decrease of $4.3 million from the end of 2017, attributed to higher working capital and increased dividends [19] Business Line Data and Key Metrics Changes - The decline in unit sales was particularly concentrated in international markets, impacted by tariffs [10] - The company maintained a strong market share in its product categories, with Chaparral sterndrive products holding approximately 16.4% market share [11] Market Data and Key Metrics Changes - International sales represented only 3.2% of net sales in Q4 2018, down from 6.7% in Q4 2017, reflecting significant decreases due to trade tariffs [18] Company Strategy and Development Direction - The company is focusing on larger boats and higher selling prices, with new designs contributing positively to financial results [22] - The company plans to showcase new large boat models at upcoming Winter Boat Shows, indicating a strategy to enhance product offerings [23] Management Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in the labor market, which has affected operational efficiencies, but expressed hope for stabilization and improvement in margins over time [30][31] - The company remains optimistic about dealer confidence, as indicated by higher backlog levels compared to the previous year [20] Other Important Information - The Board of Directors declared a quarterly dividend of $0.12 per share, a 20% increase from the previous quarter [12] Q&A Session Summary Question: Supply of outboard engines and inventory - Management confirmed improved inventory levels for outboard engines, having purchased engines ahead to protect against demand [26] Question: Status of international sales - Management indicated that international sales remain weak with no recent improvements, but noted that this segment represents a small portion of total sales [27][28] Question: Labor market and gross margin outlook - Management acknowledged the tight labor market as a challenge but is implementing programs to improve workforce quality and operational efficiency, with expectations for margin improvement over time [30][31]