Marine Products Corp. (NYSE: MPX) reported Q4 EPS of $0.05, $0.01 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $37.44 million versus the consensus estimate of $42 million.

Richard A. Hubbell, Marine Products' President and Chief Executive Officer stated, "We are pleased to report growth at Robalo as well as strong acceptance of our Vortex Jet Boats, a product line that we introduced in 2014. We are pleased with this model's reception by dealers and customers. Our profitability improved due to improved manufacturing efficiencies and a favorable model mix. At the end of the fourth quarter, our dealer inventories were comparable to the end of the fourth quarter 2013 but order backlog was higher.

"Early indications of attendance and sales at the winter boat shows have been positive. Our sales at these early shows have shown that buyers are interested in larger boats, including larger sterndrive models, which is consistent with our fourth quarter model mix. In addition, the recent steep decline in fuel prices and positive data regarding U.S. unemployment and consumer confidence are encouraging indicators for the strength of the upcoming retail selling season. Based on these factors, as well as our healthy order backlog, we will increase production during the first quarter to meet this anticipated higher demand," concluded Hubbell.

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