HZO
#Good questions.
So the Tampa show and the Atlantic City boat show, which were both very late September last year, were both in October completely this year.
And then the Galeon costs ---+ there may have been some incremental top-line benefit, but it would not have been very big because whatever we would have closed last year ---+ because they had it right at September 30.
Yes, probably none.
Yes, so wouldn't have been very material at all.
And then it's probably around $400,000, something like that, if you look at the costs that were expensed just for those shows.
Shows aren't cheap.
There's an expense that comes with them, so.
Thanks, <UNK>.
Thank you, <UNK>.
Well, <UNK>, I think the big message is that we have new, innovative products that's very exciting.
And also our average unit selling price compared to auto ---+ we are in the Bentley market as far as autos are concerned.
And so we are not seeing what the auto groups are seeing right now.
And some of that could be that it's ---+ a lot of the auto is blue-collar and more middle-class America versus our buyers are more middle-class and people with a lot of discretionary dollars.
So we're just ---+ we feel pretty good about it.
I can tell you that our customers are still out on the water; they are boating a lot.
We just had a huge Azimut event down at the Keys, down at Key West.
And I think we had 110, 120 people there attending it and many boats and a lot of excitement and ---+ so our events are doing very, very well and our customers are out on the water.
They are boating.
Our customer satisfaction is at an all-time high, which is repeat and referral business.
And so when you look at those signs, I think we are looking pretty good.
Albeit who knows what can happen to the overall economy.
We got elections this year and all that noise going on, but we're feeling pretty good about it right now.
Well, we're in discussion with several larger dealers and the timing is got to be right.
We keep saying that over and over again.
Where not going to do it unless it's right for us and right for the people that are joining our family and it's getting right.
So I would say that the chances of something happening sooner is greater than it was six months ago or a year ago.
And so we will continue to look at them, to analyze them, to review them, to do our due diligence, and to see if ---+ when and if they make sense.
And that's the important thing.
We are not going to do it for the sake of doing it.
We're going to do it for the sake that it's the right thing for MarineMax on the long term.
And it's got to make sense for the people that are joining our family.
Again, another great question, <UNK>.
I actually don't remember exactly what we bought in the quarter.
I know that we're up to about $700,000 total of the $1 million that was authorized.
And our plan would be is to buy the remaining $300,000 and then we would go back to our Board and request to reload it, which they would have to approve that.
The balance sheet is in great shape, to your point.
We have cash, we have the capital, we just increased our floorplan to give us flexibility to do a number of different thing.
So we feel more comfortable today even than a quarter ago or certainly six months ago about the strength of the industry.
So the potential is certainly there to continue to buy back stock and return capital that way to shareholders.
Oh, and I'm sorry: Galeon.
Really no impact ---+ no meaningful impact to how we finance the Company or to cash.
It's inventory that can be leveraged and it's no different than if we were buying a different product from somebody else.
So it's ---+ it goes on our floorplan like another product would.
It should be pretty close, I would think, like it was this quarter.
We're not expecting material changes in store account, unless we make an acquisition, to what <UNK> had said.
So it ought to track reasonably close to that, <UNK>.
What's happening there, <UNK>, is we bought the marina, so a lot of high and dry and wet slips in a perfect location in Pensacola.
We weren't on the water.
We are currently not on the water there with our location.
It's a landlocked store that we've done very well over the years with.
And so our entire operation is being moved to the marina.
And so it won't be an additional store account once we get the other store closed, which will happen in a couple months.
But what's important to understand there is it's a strategic acquisition for us because we do sell large yachts into the Pensacola area and not being on the water is a hindrance.
So this will be a real facilitator of especially larger boat sales there.
It's not really moving the needle one way or the other.
As we've said before, a lot of the components that going to the products that are European-built come out of the US.
And some of the European manufacturers, when the euro was so high, were supplementing the price in order to be competitive here in the US.
So it gives them the ability to make a little bit more profit and give us new models and that type of thing.
So we haven't seen a reduction in price, but if it continues to strengthen ---+ the dollar continues to strengthen, then we may see some adjustment.
We haven't seen it thus far.
It's been a nonevent.
Yes, I would also comment the Dusseldorf ---+ at the Dusseldorf boat show, no one over there was being aggressive on pricing.
Not that we saw.
No.
Yes, you're right.
We did have some inability to close some boats as we ended the quarter last year.
I think it is bigger the year before, though, <UNK>.
I think last year, it was smaller the year before because the winter much more material than last year.
But we did have some of that.
In fact, I don't remember the exact dollar amounts that moved from margin to June, but there were some; you're right.
Hopefully we don't have that type of winter again, not according to the groundhog in Pennsylvania.
We're supposed to have a nice spring and winter, which we would applaud after a couple bad years.
That is correct, <UNK>.
But understanding we have a very strong team there and they've done an exceptional job connecting with the large boat customer and ---+ but we just increased their chances of doing even more business up in that market; to your point that we can have more boats in the water.
We got a greater presence with a high-and-dry marina to capture those customers.
And so we see it is a very strategic move and very important for MarineMax and helping our team up there to be able to do even more business.
Thank you, operator.
And in closing, I would like to thank all of you for your continued support and interest in MarineMax.
<UNK> and I are available today if you have any additional questions.
So thank you.
