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New words:
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acquiree, acquirer, advertising, calendar, capacity, combination, constrained, continuing, declined, delayed, delaying, deliver, depleted, discernible, diversity, evaluated, exacerbated, experiencing, expiring, export, extent, face, guidance, hindered, imposed, improve, improving, incrementally, maintain, manner, marketing, moderate, offset, ongoing, order, output, Overview, partially, participate, practice, present, prospectively, receipt, recession, represented, requiring, retaliatory, season, sector, service, settle, target, targeting, terminate, termination, tight, transferrable, typical
Financial report summary
?Management Discussion
- Net Sales. Marine Products’ net sales increased slightly by $2.7 million or 0.7% in 2023 compared to 2022. The increase was primarily due to a 7.3% increase in the average gross selling price per boat, partially offset by increased promotional costs and a 4.4% decrease in the number of boats sold. Unit sales decreased in most of our Chaparral models as well as many Robalo models during 2023 compared to the prior year. Unit sales during 2023 in comparison to the prior year were negatively impacted by a normalization of demand relative to high post-COVID levels and higher interest rates. Average selling prices increased compared to the prior year primarily due to a favorable model mix partially offset by an increase in retail incentive costs for a new program announced during the fourth quarter of 2023. Domestic net sales were $361.2 million, an increase of 1.7% compared to the prior year. In 2023, international net sales were $22.5 million, a decrease of 12.2% compared to the prior year.