Revenue during the quarter grew 8.41 percent to $60.69 million from $55.98 million in the previous year period. Gross margin for the quarter expanded 105 basis points over the previous year period to 29.34 percent. Total expenses were 80.83 percent of quarterly revenues, down from 92.82 percent for the same period last year. This has led to an improvement of 1199 basis points in operating margin to 19.17 percent.

Operating income for the quarter was $11.64 million, compared with $4.02 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $13.31 million compared with $10.67 million in the prior year period. At the same time, adjusted EBITDA margin improved 288 basis points in the quarter to 21.94 percent from 19.06 percent in the last year period.

Terry McNew, MasterCraft's president and chief executive officer, commented, "We kicked off fiscal 2017 with solid performance, delivering key sales, gross margin, EBITDA and net income gains. These were driven by continued demand for our performance sport boats and innovative new products like the XT20. Market reception for our newest model the XT23 has been very strong. And we look forward to unveiling additional models and a number of exciting product innovations in fiscal 2017."