1057060--12/14/2006--MARINEMAX

related topics

{acquisition, growth, future}

{condition, economic, financial}

{stock, price, share}

{customer, product, revenue}

{product, liability, claim}

{provision, law, control}

{gas, price, oil}

{tax, income, asset}

{operation, international, foreign}

{personnel, key, retain}

{product, candidate, development}

{stock, price, operating}

{debt, indebtedness, cash}

{cost, regulation, environmental}

{regulation, government, change}

{financial, litigation, operation}

Our operations depend upon a number of factors relating to or affecting consumer spending for luxury goods, such as recreational boats. General economic conditions and competitive factors that impact the recreational boating industry could inhibit our growth and negatively impact our profitability. Our success depends, in part, on our ability to continue to make successful acquisitions and to integrate the operations of acquired dealers and each dealer we acquire in the future. Unforeseen expenses, difficulties, and delays frequently encountered in connection with rapid expansion through acquisitions could inhibit our growth and negatively impact our profitability. We may be required to obtain the consent of Brunswick and various other manufacturers prior to the acquisition of other dealers. Boat manufacturers exercise substantial control over our business. The failure to receive rebates and other dealer incentives on inventory purchases could substantially reduce our margins. Our growth strategy may require us to secure significant additional capital, the amount of which will depend upon the size, timing, and structure of future acquisitions and our working capital and general corporate needs. Our internal growth and operating strategies of opening new locations and offering new products involve risk. Our business, as well as the entire recreational boating industry, is highly seasonal, with seasonality varying in different geographic markets. In addition, weather conditions may adversely impact our business. The availability of boat insurance is critical to our success. We depend on income from financing, insurance, and extended service contracts. We depend on key personnel. The products we sell or service may expose us to potential liability for personal injury or property damage claims relating to the use of those products. Environmental and other regulatory issues may impact our operations. Fuel prices and supply may affect our business. We must evaluate goodwill and identifiable intangible assets for impairment annually and we would recognize an impairment loss if the carrying amount of goodwill or an identifiable intangible asset exceeds its fair value. The market price of our common stock could be subject to wide fluctuations as a result of many factors. The issuance of additional common stock in the future, including shares that we may issue pursuant to option grants and future acquisitions, may result in dilution in the net tangible book value per share of our common stock. A substantial number of shares are eligible for future sale. We rely on our operating subsidiaries. We do not pay cash dividends. Our stockholders rights plan may adversely affect existing stockholders. Certain provisions of our restated certificate of incorporation and bylaws and Delaware law may make a change in the control of our company more difficult to complete, even if a change in control were in the stockholders interest or might result in a premium over the market price for the shares held by the stockholders. Our sales of Ferretti Group and Azimut product may be adversely affected by fluctuations in currency exchange rates between the U.S. dollar and the Euro.

Full 10-K form ▸

1057060--12/14/2006--MARINEMAX_INC