MarineMax posts $4.2M net loss

CLEARWATER -- Yacht retailer MarineMax Inc. (symbol: HZO) is selling plenty of boats; the company generated nearly $92 million in sales, along with $25.6 million in gross profits.

But high expenses and persistent interest charges pushed the Clearwater-based firm into the red once again, for the fifth time in its last six quarters.

Despite its sizable gross profit (revenues minus cost of goods sold), MarineMax spent $28.6 million on selling, general, and administrative expenses, leading to an operating loss of roughly $3 million.

An additional interest expense of $1.2 million pushed net losses down to $4.2 million for the quarter.

Despite the recent losses, MarineMax' metaphorical ship has been righted from its course just a few years ago. In its 2008 and 2009 fiscal years combined, the company's net losses exceeded $210 million.

MarineMax is the nation's largest boat and yacht retailer, with 54 locations throughout the U.S.