Company Provides Ongoing Educational Programs for Continued Certification of Its Worldwide Dealer Network
Fountain Powerboat Industries, Inc.
(AMEX:FPB), a leading manufacturer of high performance sport boats, fish boats and express cruisers today announced the completion of the third session of the Fountain University Certification Program held at the company's corporate facilities in Washington, North Carolina.
The three-day workshop was attended by 42 sales professionals and members of management from the company's worldwide dealer network. "We believe the continued success of Fountain is dependent on a well trained, factory certified dealer network," said David Knight, Executive Vice President of Fountain Powerboats. "From the moment a potential customer walks into the dealer showroom to the delivery of their new boat, it is imperative that their salesperson have an in depth knowledge of a Fountain boat -- from its competitive advantages to the strength of the resins used in its manufacture and the correct delivery to its new owner."
The University program includes in-water high performance boat training by professional drivers to instruct students on the correct methods for demonstrating Fountain cruisers, fish boats and sport boats for potential customers, as each boat differs. The in-water training also covers the multi-step delivery process to ensure that every dealer can properly deliver a Fountain boat to its new owner. Each new boat is accompanied by a performance report to assist the new owner with the most efficient trim and pressure settings.
From the in-water training program, students were taken to the ISO 9001 certified factory and introduced to the unique manufacturing processes of each Fountain product line. This introduction encompassed the proprietary manufacturing techniques that give Fountain boats their completive edge, as well as an introduction to Fountain's partners, which include Mercury Marine, SP Products, Cook Composites, Interplastics Resins, Vector Ply, and Sign Zoo. Each partner took part in the training by providing an overview of their specific products and how they enhance the production of each Fountain boat.
"The entire university was awesome," commented Scott Shogren, President of Shogren Marine. "I was really glad that I attended as there was so much new information presented. The demo rides and instruction were extremely important because the ride quality of our boats is so instrumental in the sales process. And," added Shogren, "the vender partners also did an excellent job and were very informative."
"Many companies within the marine industry are experiencing a downturn in business," commented Fountain CEO Reginald M. Fountain, Jr. "At Fountain, we are continuing to break revenue and profitability records and are confident in achieving our projected revenues of $80 million for fiscal 2006. Our dealer's inventories are low, with an average of 3 ½ boats per dealer. Our backlog stands at approximately $48 million and our highly trained dealers are poised to capture significant sales at the January boat show in New York and the February boat show in Miami."
"We have a strong dealer organization and believe this program will assist our dealers in honing their presentation skills, and provide them the tools to quickly and effectively differentiate Fountain powerboats' features, advantages and benefits from other products in the marketplace," said Fountain Powerboats Vice President of Marketing, Gary Baltz. "The Fountain University program has been so well received that we are creating DVDs for Phase II of the program, on the following subjects: 1) features, advantages and benefits of the Fountain product line; 2) how to sell a Fountain high performance sport boat, fish boat and cruiser; 3) marketing benefits; and 4) operation of the high performance sport boat, fish boat and cruiser. These DVDs will be made available to our dealers and their customers."About Fountain Powerboats, Inc.
Fountain Powerboats, Inc., a subsidiary of Fountain Powerboat Industries, Inc., has its executive offices and manufacturing facilities along the Pamlico River in Beaufort County, North Carolina. The company designs, manufactures and sells offshore sport boats, sport fishing boats and sport cruisers that target the segment of the recreational power boat market where speed, performance, safety and quality are the main criteria for purchase. These recreational boats are based upon an innovative, award-winning design enabling world class performance while using standard reliable power. There are currently 12 buildings located on 65 acres totaling over 238,000 square feet accommodating 40 to 45 boats in various stages of construction at any one time. The present plant site can also accommodate up to 300,000 square feet of additional manufacturing space. The land and buildings are wholly owned by Fountain Powerboat Industries, Inc. and its subsidiary, Fountain Powerboats, Inc. For more information, visit www.fountainpowerboats.com.SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
Except for the historical information contained herein, this press release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause the company's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. We assume no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include, but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the industry, and changes in domestic and international market conditions, and foreign exchange rates. Further information on the factors and risks that could affect Fountain Powerboat Industries, Inc.'s business, financial condition and results of operations are included under the "Risk Factors" or "Factors Affecting our Operating Results" sections of Fountain Powerboat Industries, Inc. public filings with the Securities and Exchange Commission, available at (http://www.sec.gov).