CLEARWATER, Fla.--(BUSINESS WIRE)--Apr. 27, 2015--
MarineMax, Inc. (NYSE:HZO), the nation’s largest recreational boat
retailer, today announced that its Board of Directors approved a share
repurchase program authorizing the Company to repurchase up to 1.0
million shares of its common stock during the period from today through
March 31, 2017. Under the plan, the Company may purchase common stock
from time to time in the open market or in privately negotiated block
purchase transactions.
The amount and timing of any purchases will depend upon a number of
factors, including the price and availability of the Company's shares
and general market conditions. The Company intends to repurchase shares
to mitigate the dilutive effect of stock options, and shares repurchased
may be reserved for later reissue in connection with employee benefit
plans and other general corporate purposes.
As of March 31, 2015, the Company had 24,676,850 shares of common stock
outstanding.
About MarineMax
Headquartered in Clearwater, Florida, MarineMax is the nation’s largest
recreational boat and yacht retailer. Focused on premium brands, such as
Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean
Alexander, Grady-White, Harris, Crest, Scout, Sailfish, Scarab Jet
Boats, Aquila, and Nautique. MarineMax sells new and used recreational
boats and related marine products and services as well as provides yacht
brokerage and charter services. MarineMax currently has 54 retail
locations in Alabama, California, Connecticut, Florida, Georgia,
Maryland, Minnesota, Missouri, New Jersey, New York, North Carolina,
Ohio, Oklahoma, Rhode Island, Tennessee, and Texas and operates
MarineMax Vacations in Tortola, British Virgin Islands. MarineMax is a
New York Stock Exchange-listed company. For more information, please
visit www.marinemax.com.
Certain statements in this press release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include those regarding the Company’s
potential repurchases of its common stock. These statements
involve certain risks and uncertainties that may cause actual results to
differ materially from expectations as of the date of this release.
These risks include significant changes in the price and availability of
the Company’s stock, general economic conditions, as well as those
within our industry, and numerous other factors identified in the
Company’s Form 10-K for the fiscal year ended September 30, 2014 and
other filings with the Securities and Exchange Commission.
Source: MarineMax, Inc.
MarineMax, Inc.
Michael H. McLamb, 727-531-1700
Chief
Financial Officer
or
Abbey Heimensen, 727-531-1700
Public
Relations
or
ICR, Inc.
Brad Cohen, 203-682-8211
bcohen@icrinc.com