Consumer Discretionary › Ship And Boat Building And Repairing
MPX Stock Price Correlated With Marine Products Financials
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Income Statement
Cash Flow
Balance Sheet
MPX Income Statement
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Cost of Goods & Services Sold:
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Net Income:
MPX Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
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Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
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Purchases of Businesses, Net of Cash:
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MPX Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
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COMPANY PROFILE
NOTE 1: SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation and Presentation — The consolidated financial statements include the accounts of Marine Products Corporation (a Delaware corporation) and its wholly owned subsidiaries (“Marine Products” or the “Company”). The consolidated financial statements included herein may not necessarily be indicative of the future results of operations, financial position and cash flows of Marine Products. The Company has one reportable segment — its Powerboat Manufacturing business. The Company’s results of operations and its financial condition are not significantly reliant upon any single customer or product model. No single dealer accounted for 10 percent or more of net sales during 2021, 2020 or 2019. Net sales to the Company’s international dealers were approximately $15.9 million in 2021, $11.8 million in 2020, and $17.0 million in 2019. Common Stock — Marine Products is authorized to issue 74,000,000 shares of common stock, $0.10 par value. Holders of common stock are entitled to receive dividends when, as, and if declared by our Board of Directors out of legally available funds. Each share of common stock is entitled to one vote on all matters submitted to a vote of stockholders. Holders of common stock do not have cumulative voting rights. In the event of any liquidation, dissolution or winding up of the Company, holders of common stock are entitled to ratable distribution of the remaining assets available for distribution to stockholders. Preferred Stock — Marine Products is authorized to issue up to 1,000,000 shares of preferred stock, $0.10 par value. As of December 31, 2021, there were no shares of preferred stock issued. The Board of Directors is authorized, subject to any limitations prescribed by law, to provide for the issuance of preferred stock as a class without series or, if so determined from time to time, in one or more series, and by filing a certificate pursuant to the applicable laws of the state of Delaware and to fix the designations, powers, preferences and rights, exchangeability for shares of any other class or classes of stock. Any preferred stock to be issued could rank prior to the common stock with respect to dividend rights and rights on liquidation. Share Repurchases — The Company records the cost of share repurchases in stockholders’ equity as a reduction to common stock to the extent of par value of the shares acquired and the remainder is allocated to capital in excess of par value and retained earnings if capital in excess of par value is depleted. The Company tracks capital in excess of par value on a cumulative basis and for each reporting period, discloses the excess over capital in excess of par value as part of stock purchased and retired in the consolidated statements of stockholders’ equity. Dividend — On January 25, 2022, the Board of Directors declared a regular cash dividend of $0.12 per share payable March 10, 2022 to stockholders of record at the close of business on February 10, 2022. Subject to industry conditions and Marine Products’ earnings, financial condition, and other relevant factors, the Company expects to continue to pay regular quarterly cash dividends to common stockholders. Use of Estimates in the Preparation of Financial Statements — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates are used in the determination of sales, sales incentives and discounts, and warranty costs. Sales Recognition — Marine Products recognizes revenues from contracts with its customers based on the amount of considerat
Free historical financial statements for Marine Products Corp. See how revenue, income, cash flow, and balance sheet financials have changed over 49 quarters since 2012. Compare with MPX stock chart to see long term trends.
Data imported from Marine Products Corp SEC filings. Check original filings before making any investment decision.