MarineMax expects to swing to 4Q loss

MarineMax said it expects a fourth-quarter loss of 58 cents to 68 cents per share, compared with a profit of 35 cents per share in the same quarter last year.

It also said it expects its quarterly revenue to fall to $165 million from $318 million a year ago. Same-store sales, or sales at stores open at least a year, are expected to fall 45 percent, the company said.

MarineMax attributed the weaker results to the sluggish economy, volatility in the financial markets and the Gulf Coast hurricanes in August and September.

"The already soft marine retailing market deteriorated further during the September quarter," Chairman, President and Chief Executive William H. McGill Jr. said in a statement. "As turmoil mounted in the financial markets, making the economic environment increasingly uncertain and difficult, many customers delayed their purchasing decisions."

Wall Street was predicting a smaller loss for the company. Analysts polled by Thomson Reuters expect a fourth-quarter loss of 4 cents per share on $215.2 million in revenue.

Shares of MarineMax closed Monday at $4.80. The stock is down 69 percent for the year.