Malibu Boats (NASDAQ: MBUU) reported Q4 EPS of $1.08, $0.13 better than the analyst estimate of $0.95. Revenue for the quarter came in at $194.8 million versus the consensus estimate of $185.75 million.

"Fiscal year 2019 was another exceptional year for Malibu. We delivered record-breaking operational and financial performance supported by the strength of our brands, our commitment to operational excellence, and a best-in-class team laser-focused on superior execution. For the year, we delivered a 38% increase in net sales, with adjusted net income rising 46% to $82 million, or $3.76 per share," commented Jack Springer, Chief Executive Officer of Malibu Boats, Inc. "Pursuit and Cobalt, together with our Malibu and Axis brands, have created a well-rounded, premium portfolio that brings to market a line-up of innovative boats that are resonating with customers. In fact, we recently announced the release of three new products - the Axis A20, which exemplifies performance and value in an entry level small package; the Malibu 20 VTX, the ultimate triathlete that excels for skiing, wakeboarding and wakesurfing; and the Malibu Wakesetter 23 MXZ, which is the perfect mix of luxury and watersports performance."

"Our vertical integration initiatives are also progressing on target, as our Malibu Monsoon engines are now completely integrated into 100% of our Malibu and Axis boats and the beginning of FY2020 saw us unveil our own flooring for all Malibu and Axis boats. While certainly not as large of scale as the Malibu Monsoon engine, the profitability profile of our new flooring vertical integration initiative is as strong, or stronger, than our other vertical integration initiatives over the years. In addition, we expect to finalize our expansion of Cobalt by the second quarter of fiscal year 2020, and are progressing nicely with the capacity expansion initiative at Pursuit," Mr. Springer continued.

"Maximizing the customer experience, coupled with our operational prowess has allowed us to consistently deliver strong results despite recent choppiness in the marine market. While we remain incredibly well-positioned in the industry, we are cognizant of the rising uncertainty around the broader macroenvironment. That said, we believe our inventory levels remain at adequate levels and our variable cost structure allows us to be nimble should things materially change," concluded Mr. Springer. "As we look to fiscal year 2020, while we are being prudent, we are investing in the areas that have driven our success across our brands - new products, innovation, vertical integration and performance optimization. We remain incredibly confident in the opportunities ahead of us and look forward to delivering long-term value for our shareholders."

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