(RTTNews) - Recreational boat and yacht retailer MarineMax Inc. (HZO) reported Thursday that net income for the first quarter nearly doubled to $9.1 million or $0.41 per share from $4.9 million or $0.21 per share in the prior-year quarter.
On average, 8 analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter. Analysts' estimates usually exclude special items.
Revenue for the quarter increased 26 percent to $304.2 million from $241.9 million in the same quarter last year. The Street was looking for revenues of $260.33 million. Same-store sales were up over 24 percent.
Based on current business conditions, retail trends and other factors, the company is raising its fiscal year 2020 guidance for earnings a range of $1.82 to $1.92 per share from the prior forecast range of $1.58 to $1.68 per share.
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