Marine Products Corporation

good morning and thank you for joining us for marine products corporation second quarter 2021 financial earnings conference call today's call will be hosted by rick hobble president and ceo and ben palmer chief financial officer also present is jim lenders vice president of corporate services At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided at the time for you to queue up for questions. I would like to advise everyone that this conference call is being recorded. Jim will get us started by reading the forward-looking disclaimer.

Thank you, Charlotte, and good morning. Before we get started today, I'd like to remind everyone that some of the statements that we will make on this call may be forward-looking in nature and reflect a number of known and unknown risks. I'd like to refer you to our press release issued today, our 2020 10-K, and other SEC filings that outline those risks. All of these are available on our website at www.marineproductscorp.com. If you've not received our press release and would like one, please visit our website, again, at MarineProductsCorp.com for a copy. We'll make a few comments about the quarter, and then we'll be available for your questions. Now I will turn the call over to our President and CEO, Rick Hubbell.

Jim, thank you. We issued our earnings press release for the second quarter of 2021 this morning. Ben Palmer, our CFO, will discuss the financial results in more detail in a moment. Now a few highlights on the quarter. Marine Products Corporation's second quarter 2021 results reflect the continuation of extraordinary high demand, which we expect beyond the 2021 retail selling season. Recently reported data indicate that retail sales in our product categories have increased 28% so far this year. We have participated in that growth, and I am pleased to report continued strong market share in both of our brands. Unit sales to our dealers during the second quarter were almost 59% higher than in the second quarter of last year. While we have to remember that our manufacturing facility was closed for almost half of the second quarter last year due to COVID-related safety concerns, This retail sales growth, unit sales growth, is still very strong and speaks to the strength of the recreational boating market, our management team, our dealer network, and the appeal of our products. Our backlog of firm orders and other retail indications remain at historically high levels, and our dealers report that they have the lowest inventory in years. These are positive indicators, especially at the end of what was traditionally the retail selling season. The recently reported market share statistics for the 12 months ended March 31, 2021, indicate that both our outboard and stern drive market shares increased compared to the previous reporting period. Robalo continues to hold the highest market share in the 16 to 36-foot outboard category, and the combination of Robalo and Chaparral outboards holds 6.9% of that market. Our Chaparral stern drives hold 17.1% of the market in their size range, a slight increase from the previous reporting period. The Chaparral brand, counting both outboard and stern drive boats, hold the highest market share among sport boats in its size range. We also announced this morning that our board of directors yesterday declared a regular quarterly dividend of 12 cents per share. With that overview, I'll now turn it over to our CFO, Ben Palmer. Thank you, Rick.