MAAX reports first quarter and fiscal year results
MAAX Inc. said that it achieved its best quarterly performance for the fourth consecutive year for the three-month period ended May 31, with increases in sales and net income.
MAAX Inc. said that it achieved its best quarterly performance for the fourth consecutive year for the three-month period ended May 31. Sales rose 58.4% to $74.9 million (U.S.) from $47.3 million last year. Net income of $4.6 million was up 38.7% from $3.3 million last year.
The company attributed the sales increase both to newly acquired subsidiaries and exceptional internal growth of 22.8%. Sales of bathroom products and accessories grew by 27.4%; sales of shower doors and medicine cabinets by 28.5%; and sales of spas by 346.1%, the company said.