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[QUOTE]Originally posted by blue_in_MI: [QB] scottrade emailed me this JMIH news article yesterday: Mar 16, 2006 (The Bradenton Herald - Knight Ridder/Tribune Business News via COMTEX) -- MANATEE -- Jupiter Marine International Holdings Inc.'s second manufacturing facility in Palmetto is up and running, and could double the number of center console boats made by the Fort Lauderdale company. Demand for Jupiter's outboard product line boosted net sales 22.4 percent to $6.6 million during the first half of fiscal 2006, according to figures released Wednesday. Second quarter net sales increased 31.5 percent to $3.4 million over the same period last year. "Right now for us (the market) has been very good," said President Carl Herndon. "We had the best Miami Boat Show we've ever had. . . . it was better than last year and the year before that." The expansion satisfied Jupiter's goal of increasing its volume capacity. The Palmetto facility set Jupiter back $95,000 in startup costs, which, along with other factors such as increased expense of raw materials, slightly lowered its gross profit margin in the second quarter of fiscal 2006 to 24 percent, compared with 27.3 percent during the same period in 2005. The Palmetto plant will build Jupiter's new 29-foot forward seating model, which debuted in Miami last month. With a suggested base price of nearly $135,000, the boat will temporarily supplant production of its 27-foot version. "When you introduce a new model like the 29, you get a lot of new orders because it's the newest thing," Herndon said. "We're taking the excess production capacity from the 27. After the initial surge is over and it goes back to normal levels, we will be producing the 27s." Jupiter has hired 20 out of 50 planned workers for the production at the Palmetto plant. Jupiter's Fort Lauderdale facility manufactures between 100 and 120 boats annually. Its average order backlog is six months. Jupiter's current product line includes the 38-foot forward seating, 31-foot open, 31-foot forward seating, 31-foot cuddy and new 29-foot forward seating. The results come at a time when the National Manufacturers Association is predicting a good year for an industry heavily tied to consumer confidence, according to Jim Petru, the association's director of industry research and statistics. "I think the consumers are a little cautious right now," Petru said. "Dollar-wise, we're probably going to have a good year when the final numbers from 2005 come in. Unit-wise, we're down." But low dealer inventories bode well for manufacturers because they will have to replenish stocks, Petru said. Boats with higher price points remain less affected by dips in consumer confidence. Tilde Herrera, Herald business reporter, can be reached at 748-0411, ext. 7037 or at therrera*HeraldToday.com [mailto:therrera*HeraldToday.com]. By Tilde Herrera Copyright (c) 2006, The Bradenton Herald, Fla. [/QB][/QUOTE]
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