8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report: April 20, 2004
(Date of earliest event reported)

MARINEMAX, INC.

(Exact name of registrant as specified in its charter)

Commission File No. 1-14173

DELAWARE	59-3496957
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification Number)
18167 U.S. 19 NORTH, SUITE 499
Clearwater, Florida	33764
(Address of principal executive offices)	(ZIP Code)

(727) 531-1700
(Registrant’s telephone number, including area code)

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

Exhibit 99.1 Press Release of MarineMax, Inc. dated April 20, 2004, reporting the financial results of its second quarter of fiscal 2004.

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On April 20, 2004, MarineMax, Inc. reported the financial results of its second quarter of fiscal 2004. A copy of MarineMax, Inc. press release is attached hereto as Exhibit 99.1

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: April 20, 2004
	MARINEMAX, INC.
	By:	/s/ Michael H. McLamb
		Michael H. McLamb Executive Vice President, Chief Financial Officer and Secretary

Index to Exhibits

Exhibit 99.1 Press Release of MarineMax, Inc. dated April 20, 2004, reporting the financial results of its second quarter of fiscal 2004.

EX-99.1

EXHIBIT 99.1

CONTACT:	Michael H. McLamb	Brad Cohen 203/222-9013
	Chief Financial Officer	Tom Ryan 203/222-9013
	MarineMax, Inc.	Integrated Corporate Relations, Inc.
	727/531-1700

MARINEMAX REPORTS RECORD SECOND QUARTER RESULTS
- - Second quarter revenue exceeded $200 million -
- - Same-store sales increased 23%, net income increased 38% -
- - Earnings per share guidance for FY04 raised to a range of $1.48 to $1.53 -

     CLEARWATER, FL, April 20, 2004 — MarineMax, Inc. (NYSE: HZO), the nation’s largest recreational boat retailer, today announced record revenue and earnings for the second quarter of fiscal 2004.

     For the quarter ended March 31, 2004, the Company reported a revenue increase of 28% to $203.3 million compared to $159.1 million for the comparable quarter last year. Same-store sales grew 23% compared to a 9% increase in the year ago quarter. Net income was $5.7 million, or $0.34 per diluted share, an increase of 38% from net income of $4.1 million, or $0.26 per diluted share, in the comparable quarter last year.

     For the six-month period ended March 31, 2004, revenue grew 40% to $359.9 million compared to $257.0 million for the comparable period in fiscal 2003. Same-store sales increased 36% compared to a 3% decline in the year ago period. Net income was $7.9 million, or $0.48 per diluted share, an increase of 118% from net income of $3.6 million, or $0.23 per diluted share, in the six months ended March 31, 2003.

     William H. McGill, Jr., Chairman, Chief Executive Officer and President, stated, “I am very pleased with our second quarter and year-to-date results. While the industry data is yet to be released, we are confident our performance is stronger than that of other marine retailers, indicating continued market share expansion. Our same-store-sales growth was solid across all aspects of our business. Additionally, the integration of and contributions from the Colorado and Florida Panhandle acquisitions, which we completed late last fiscal year, are proceeding on schedule.”

     Mr. McGill continued, “While we are pleased with our year-to-date performance, we want to stay grounded in our expectations for the balance of fiscal 2004 because the second half of the year accounts for the majority of our sales and earnings. On a cautious note, the current unrest in the world and the forthcoming election create an uncertain environment for most consumer businesses.”

     Mr. McGill concluded, “Over the past several years, we have focused on investing in our team, while expanding our product line and distribution network. We believe that we have built an industry-leading operating platform, based on the strength of our team, which will continue to create significant value and returns to our stockholders as we ‘Deliver the Boating Dream’.”

     Based on current business conditions, retail trends and other factors, MarineMax is raising its previously announced fiscal 2004 guidance from $1.38 to $1.45 to a range of $1.48 to $1.53 per diluted share.

About MarineMax

     Headquartered in Clearwater, Florida, MarineMax is the nation’s largest recreational boat retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Ferretti Yachts, Custom Line, CRN, Pershing, Riva, Mochi Craft, Apreamare and Bertram, the Company sells new and used recreational boats and related marine products and provides yacht brokerage service through its Motor Yachts division. The Company currently operates 66 retail locations in Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Minnesota, Nevada, New Jersey, North Carolina, Ohio, South Carolina, Texas and Utah. MarineMax is a New York Stock Exchange-listed Company.

     Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include expectations regarding the strength of our products and the performance of our team; our position in the boating market; our ability to continue long-term growth and increase stockholder value; and our earnings guidance for fiscal 2004. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the ability to accomplish goals and strategies, the success of the acquisition program, synergies expected from acquisitions, anticipated revenue enhancements, general economic conditions and the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations and numerous other factors identified in the Company’s Form 10-K and other filings with the Securities Exchange Commission.

(table follows)

MarineMax, Inc. and Subsidiaries
Condensed Consolidated Results of Operations
(Unaudited amounts in thousands except per share data)

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2004		2003		2004		2003
Revenue	$	203,266	$	159,063	$	359,925	$	257,038
Cost of sales		158,110		124,822		279,670		199,142
Gross profit		45,156		34,241		80,255		57,896
Selling, general, and administrative expenses		34,269		27,370		64,285		51,173
Income from operations		10,887		6,871		15,970		6,723
Interest expense		1,701		216		3,159		848
Income before income taxes		9,186		6,655		12,811		5,875
Income tax provision		3,536		2,562		4,932		2,262
Net income	$	5,650	$	4,093	$	7,879	$	3,613
Basic net income per common share:	$	0.36	$	0.27	$	0.51	$	0.24
Diluted net income per common share:	$	0.34	$	0.26	$	0.48	$	0.23
Weighted average number of common shares used in computing net income per common share:
Basic		15,520,381		15,313,218		15,482,023		15,310,707
Diluted		16,728,845		15,541,897		16,504,398		15,539,448

(table follows)

MarineMax, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited amounts in thousands, except share and per share data)

	March 31,		March 31,
	2004		2003
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	17,168	$	14,898
Accounts receivable, net		23,591		20,353
Inventories, net		284,241		206,758
Prepaids and other current assets		2,737		2,258
Deferred tax assets		1,864		368
Total current assets		329,601		244,635
Property and equipment, net		75,884		69,971
Goodwill and other intangible assets, net		53,483		49,589
Other long-term assets		841		1,205
Total assets	$	459,809	$	365,400
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	49,641	$	14,514
Customer deposits		14,740		6,983
Accrued expenses		18,778		16,967
Short-term borrowings		172,000		149,000
Current maturities of long-term debt		2,397		2,304
Total current liabilities		257,556		189,768
Deferred tax liabilities		7,550		5,140
Long-term debt, net of current maturities		18,783		21,441
Total liabilities		283,889		216,349
STOCKHOLDERS’ EQUITY:
Preferred stock, $.001 par value, 1,000,000 shares authorized, none issued or outstanding at March 31, 2004 and 2003		—		—
Common stock, $.001 par value; 24,000,000 shares authorized, 15,594,483 and 15,333,107 shares issued and outstanding at March 31, 2004 and 2003, respectively		16		15
Additional paid-in capital		67,219		64,420
Retained earnings		108,685		84,768
Treasury stock, at cost, 17,349 shares held at March 31, 2003		—		(152	)
Total stockholders’ equity		175,920		149,051
Total liabilities and stockholders’ equity	$	459,809	$	365,400

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