Marine Products (NYSE: MPX) reported Q4 EPS of $0.14, $0.05 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $62.06 million versus the consensus estimate of $70.42 million.

Richard A. Hubbell, Marine Products' President and Chief Executive Officer stated, "The U.S. recreational boat market continued to be strong through the end of 2018, as the economy remains solid and our customers continue to be excited about our products. Marine Products' U.S. domestic sales declined slightly during the fourth quarter of 2018 compared to the prior year. However, our international sales decreased by more than 50 percent compared to the prior year, to 3.2 percent of total sales, due in large part to the impact of trade tariffs that were enacted during 2018. The impact of the decline in international sales was partially offset by an increase in domestic sales of several of our larger boats, including our larger Chaparral H2O and SSX models and one of our 24-foot Robalo models. On a positive note, our order backlog at the end of the fourth quarter was higher than at the end of the fourth quarter of last year, and dealer inventories were relatively unchanged, reflecting dealer enthusiasm and a strong order outlook for the next few months. In support of this theme, we note that attendance at many of the early 2019 boat shows has been strong.

"During the quarter, we continued our regular quarterly cash dividend and declared a year-end cash dividend that was twice as high as the dividend declared at year-end 2017. Marine Products\' total per-share dividends during 2018 were more than 50 percent higher than the dividends declared during 2017, and the highest dividends per share declared by the Company since 2012. In addition, we accomplished our highest share repurchase of 2018 during the fourth quarter. We finished the year with $16.4 million in cash and marketable securities, a decrease of $4.3 million compared with the fourth quarter of last year," concluded Hubbell.

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