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The Limestone Boat Company announces over 51% increase in Q1 2022 production

by Limestone Boat Company 8 Apr 04:21 PDT
Limestone Boat Company © Limestone Boat Company

The Limestone Boat Company (the "Company") (TSXV: BOAT | OTCQB: LMSBF) - owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats - announced unit production improvements at its Tennessee-based boat manufacturing facility for Q1 2022.

The Limestone Boat Company Unit Production increased more than 51% in Q1 2022 compared with Q4 2021, with additional milestone achievements of note further confirming a positive trajectory for the 2022 calendar year.

"Production capacity on the highly sought after, high margin Aquasport 2300CC & 2500CC Center Console models is on schedule to double in Q3 providing dealers the ability to tap into the unprecedented consumer demand for this segment," said The Limestone Boat Company CEO Scott Hanson. "We continue to see strong demand for our products and are focused on increasing our monthly production to meet the Company's large order backlog."

The Company continues to increase its production numbers through effectively managing supply chain and Covid-related labor disruptions. Production and shipments are expected to continue to grow at a rate of one-half boat per week per month, resulting in a further doubling of weekly shipments through year end.

Recent new Aquasport dealers update

The Company ended March with the addition of another new dealer, Coastline Marine Service in Marblehead, MA, to the six (6) previously announced new dealers this year. This brings the total number of Aquasport dealers to 27, accounting for 30 locations and 35 Dealers and 51 Locations for all Limestone Boat Company Brands.

Limestone® L-200R Runabout Model Performance update

The Company's Limestone® L200R Runabout launched earlier this year continues to receive rave reviews for its performance as quoted in a recent performance bulletin.

"We recently held a performance test on the Limestone® L200R equipped with a 250HP Mercury outboard and found it to be a deceptively high performing boat," said TN Composites Vice President of Manufacturing Chris Smith. "It is fast to plane with minimal bow rise, and it corners like it's on rails. It drives like a sportscar."

EV testing update

The long-awaited testing of the Aquasport 2100CC Center Console with Vision Marine Technologies' E-Motion 180 electric outboard motor is currently scheduled for the week of April 18th as the Company works to be the first manufacturer to bring EV technology to big water, Deep V boats with performance that aligns with today's boating lifestyle.

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