again, our a start strong morning, Thank I'd you, also fiscal for to good Brett, by producing team XXXX. and like everyone. to thanking start
the largely new which from $XXX well of sales revenue acquisition quarter, from a quarter million. due record IGY, as revenue October Intrepid of and excluded are grew to December Cruisers calculation. the to both as For same-store increase The was the Yachts,
But X%. combination seasonality, well a return Same-store as due sales double to as of digits. a more difficult declined declined to units modestly a our economic by environment,
while share than industry, the indicating that Our was unit less of decline, gains. substantial,
average driven Our significantly, expanded unit premium price by selling mix greater a mostly more of product. larger
product the December same-store shows. believe growth. unit add industry appears of showing by I of seasonality. unit in evidence is Most the is quarter lot Northern to trends to That a the our our would decline about premium unit flat generally to at trend boat return a XXXX in supported with generally of trend positive be
the high-quality XX.X%, $XXX the encouraging primarily of our growth basis by higher-margin was record profit year's increased were up reflecting to to points. XXX dollars IGY strategy IGY, market. premium driven focus a to an new the acquisition businesses increase Gross million, is also Absent The of of of adding our last margins flat this environment segment December record, our on while portfolio. to which our in reinforcing quarter
expenses internal and sales the also gross remainder to was stores million until in seasonally. acquisition our third likely to we essence Cruisers or most increase SG&A Total sale no of buyers. the that of revenue with our party rose stores. quarter. was timing retail being benefit greater a over due when impacted to versus removing SG&A IGY to about our of was the unusual the half costs results delivered $XX Well infrastructure built of of profit Yachts a sales to by that SG&A the than due by in In expenses of
while is care aligning taking we said focused that are can, we ensuring our team customers. Having on still of where costs
call on IGY in noted net expanding of income. disclosures As financial acquisition, to our our and as the we include the and adjusted release because are October mentioned EBITDA adjusted
it's non-floor depreciation interest, in a fair is currency We to and foreign EBITDA measure the see comp better expense, consideration, taxes, how changes. addition plan and stock performing. excludes to think the costs, adjusted contingent hurricane expenses amortization, company In value change acquisition of
or X.X% inventory EBITDA Interest due the quarter with long-term million the revenue, $XX.X same currency, to $X.X was for up For adjusted the was the related rates last million. Ignoring increased adjusted $X.X period in quarter and was IGY. million million to $XX.X debt rising expense quarter, EBITDA the for year. $XX.X million of compared
generated $XX.X costs, was and consideration per asset Ian first line, per $X.XX excluding income net of net share. contingent basis, intangible expenses, income diluted adjusted for in value acquisition bottom net an the GAAP we $X.XX the of $XX.X the On share. Hurricane change million fair income On or amortization, million quarter or
of last year sheet. the balance acquisition primarily We with quarter due IGY. the to same on $XXX down Moving from cash ended of our period the to million,
that to year points up last inventory XX% million XX to a than quarter Our is to in ago. increase transit as manufacturers end an was greater can't as be in well delivered deposits due $XXX boats from increase Close at year. that of with
in well nice earlier easier some expected. get is the the industry build years. show is customers Most into help as to product. ours to quicker them smaller few of lifestyle our stores But and last back built quicker boating as more seasonally-sensitive finally the as have than It than inventory product that mentioned has
we about made of we expect comments continue of Compared a to basis. more have in to call October, inventory same-store terms Consistent with complicated the carried December on larger we we then now on in our XXXX, units leaner on what product. XX% year-end
is sheet to smaller balance increase increase million December a over the property. reflected of IGY at Our and in couple The a of purchase related XXst primarily acquisitions. $XXX
in our and from last than of Looking largely borrowings short-term and Customer payments. more million reflected not decreased at inventories liabilities, September deposits sequentially year. increased timing rose versus the surprisingly $XXX also
historically level our and are high. backlog the However, very deposits of
quarter quarter the fourth to our call, less guidance times cash one was than at end. net earnings with debt of on Consistent EBITDA
of the December the finance at used about $XXX $XXX of reflects million. to million sheet XX balance purchase borrowings totaled term IGY. Our Available debt
guidance. general, industry although guidance. the we the industry in first lower a showing hikes, is retail is seasonality. inventory rate combined buying has to XXXX to originally it we now data our tougher softness between admittedly faster and expected, given believe the unit along with recent results Fed's interest quarter thought softness the more patterns, than building Based see we trends mid-single-digit likely high greater prudent to than Where difference think would it industry. returned Turning most suggests year that believe and our the historical seasonal In digit to prudent data with is new registrations, anticipated, economic boat to decline single on unit is the registration we that hard it continued had its declines, determine for the
we the our Likewise, modest premium larger to will do protect a anticipate us originally SKU same-store product to our trends. expected decline. from now help where believe sales be We we industry flattish,
be should XXXX, in SG&A elevated, past guidance, expect modest with mid-XXs. which We decline our from slightly improve margins the a but seasonally. was be to will still but consistent
well due elevated as are also remains We expense to rates. as increased interest inventories, assuming
We XX%. income, assume from The and around just million fewer rate tax to deductions of stock-based and of a shares assumptions rate increased tax over geographic of due rate certain changes count a share compensation. sources XX.X
adjusted $X.XX. the our XXXX now year we be $X.XX On to in line, the of share expect to earnings bottom guidance full per range
million. forecasting range addition, in of to $XXX million In to we adjusted are be EBITDA XXXX $XXX the
last season was it the and overall. has at February started been is and historically line reports big biggest later and the and Looking by early Boat with Those like looks in as of who encouraging. quarter, be but our January current strong show the industry January are will last year this trends, has combined. far will as recall guidance January that month year, March follow
Lastly, especially remains underlying premium demand for healthy the segment.
over back to closing With comments. turn call that, some the for Brett I'll
