VONORE, Tenn. (AP) _ MasterCraft Boat Holdings (MCFT) on Wednesday reported a fiscal third-quarter loss of $36.7 million, after reporting a profit in the same period a year earlier.
The Vonore, Tennessee-based company said it had a loss of $1.96 per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 46 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The sport boats maker posted revenue of $102.6 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $105.4 million.
MasterCraft Boat Holdings, Inc. shares have fallen 36% since the beginning of the year. The stock has dropped 61% in the last 12 months.