LOUDON, Tenn. (AP) _ Malibu Boats Inc. (MBUU) on Thursday reported fiscal third-quarter net income of $22.8 million.
On a per-share basis, the Loudon, Tennessee-based company said it had profit of $1.09. Earnings, adjusted for one-time gains and costs, came to $1.13 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The maker of performance sports boats posted revenue of $182.3 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $183.4 million.
Malibu Boats shares have fallen 17% since the beginning of the year. The stock has dropped 20% in the last 12 months.