Malibu Boats beats Street 1Q forecasts

LOUDON, Tenn. (AP) _ Malibu Boats Inc. (MBUU) on Tuesday reported fiscal first-quarter profit of $5.9 million.

The Loudon, Tennessee-based company said it had net income of 31 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 42 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The maker of performance sports boats posted revenue of $103.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $97.8 million.

Malibu Boats shares have risen 50 percent since the beginning of the year. The stock has climbed 78 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBUU at https://www.zacks.com/ap/MBUU