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Hi gang, Rick Ostler here from North American Waterway bringing you Bayliner Boats along with news and views from the boating industry. Bayliner’s 340 Cruiser is their flagship cruiser built to get more people into the cruising lifestyle.

Her list of standard features fulfills the needs of the cruising lifestyle, while her options allow you to step it up a notch and customize your fun. Bayliner has gone to great lengths to make sure this cruiser is not what your father had.

The 340 Cruiser is an evolution on the previous model year’s 325 with few changes other than the tried and true Bayliner price. Still a bargain, this latest offering from US Marine shows the company’s dedication to improving product styling, finishing quality and confirming that this is not your father’s Bayliner anymore.

Bayliner 340 Cruiser - Key Features

• Bimini Top: w/Boot
• Aft L-Shaped Lounger: Converts to Sunlounger
• Carpet Runner
• Double-Wide Helm Seat: Includes Rotating Feature & Flip-Up Bolster
• Entertainment Center: w/Sink, Faucet & Storage Cabinet
• Transom Shower
• 100% Polypropylene Carpeting: Solution-Dyed, Stain & Fade-Resistant

Bayliner Cruiser 340 - Captain’s Report

Cockpit Layout

The single level cockpit is both spacious and comfortable for entertaining a group, or for letting each member of the family enjoy their own space. The large L-shaped lounger fills the starboard and wraps around the stern to the port side walk-through. The table quickly converts this into a large space to enjoy the sun or sleep topside on a pleasant summer night. To port is an entertainment center for mixing beverages and serving snacks. Our test model included a granite countertop, sink and handy cockpit refrigerator/freezer combination. One feature it lacked was storage at the wet bar. Our captain found the battery switch and power switches located near this center to be a plus, as you can reach them easily from the swim platform. Speaking of the swim platform, you do have hot and cold water at the swim shower to rinse off before coming back on board.

At the Helm

The helm shows the class of a more expensive yacht with burlwood accents and space to add on more flat panel electronics. Tilt power-assisted rack and pinion steering is standard with the tilt wheel. Electronic/hydraulic trim tabs are also standard. Our test captain felt the standard throttle and shift controls were a bit dated and preferred a more modern system.

In the Cabin

Moving inside, the salon takes advantage of light and air in this spacious design. The two large tables allow your guests the choice to dine inside or al-fresco all together. The forward table and benches convert into a roomy berth, and a double berth is aft. The galley is to starboard with solid surface counters and a two burner electric cooktop. You do have ample storage for dry goods around the galley. Other standard features include a microwave oven, Norcold refrigerator/freezer and stainless steel sink. The wet head has a full fiberglass liner for easy maintenance, and the design inside is typical of cruisers with a marine head with macerator and a vanity.

Specifications

The Bayliner Cruiser 340 measures 35 feet length overall. Her beam is 11 feet 6 inches, and hull draft measures 2 feet 2 inches with the drives up and 3 feet 5 inches with the drives fully deployed. This model has a standard dry weight of 12,900 lbs. Fuel capacity is 175 gallons and fresh water capacity is 40 gallons.

Testing

Our test captain found this model to perform better with a pair of 300 hp MerCruiser 350 MPIs with Bravo III drives. She is on plane in 10.1 seconds and up to 30 mph in 16.5 seconds. With four people on board and ¾ tank of fuel, she has a cruising speed of 16.2 mph for a range of 143 miles at 3000 rpm. Top measured speed was 41.4 mph at 4500 rpm.

New Features

For 2008, the Bayliner Cruiser 340 had a few new features. Those included a new color choice of a black hull side. A Sirius satellite capable radio is now available as well as a stereo upgrade with a full range of speakers. You may also order Sunbrella canvas packages for more protection and overnight camping aboard. Cockpit upholstery and design has been enhanced, and you also have some new cabin interiors over previous years. Thanks to;Bayliner 340 Cruiser Overview | BoatTEST.com

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Hi gang, Rick Ostler here from North American Waterway bringing you Bayliner Boats along with news and views from the boating industry. More doom and gloom for the Brunswick Corp.

LAKE FOREST, Ill. – Brunswick Corporation’s net boat and engine sales dropped six percent and four percent, respectively, in the second quarter of 2008 when compared to the same period last year, the company reported yesterday.

Its boat sales declined from $732.8 million in the second quarter of 2007 to $687.9 million for the second quarter of 2008, while engine sales dipped to $643.5 million in the second quarter of 2008, from $669.6 million in the year-ago quarter.Overall, the company reported a net loss of $6.0 million, or $0.07 per diluted share, for the second quarter of 2008, compared with net earnings of $56.9 million, or $0.63 per diluted share, from continuing operations for the same period a year ago.

Both the second quarters of 2008 and 2007 include restructuring charges of $83.1 million, or $0.59 cents per diluted share, and $1.1 million, or $0.01 per diluted share, respectively, the company reported. The 2008 charges are primarily for costs associated with previously announced actions aimed at resizing the company and reducing fixed costs by $300 million versus 2007 spending levels by the end of 2009.

Despite the losses, both Brunswick chairman and CEO Dustan E. McCoy and analysts alike were pleased with the company’s performance.

“We commend our employees for the strong results that were achieved in the quarter during difficult economic conditions,” explained McCoy. “We believe these results underscore the inherent strengths of our brands, market position and operating and financial management expertise. They further reflect our employees’ ability to efficiently operate the business while making progress against restructuring and strategic initiatives designed to benefit Brunswick, our dealers and our shareholders over the long-term.”

“The company continues to execute relatively well, despite weak industry conditions,” wrote RBC Capital Markets analyst Edward Aaron in a report issued yesterday afternoon. “Long-term the stock is attractive, but the acceleration of the decline in the U.S. boat market as dealer inventories swell heading into the off-season, leaves us cautious nearer-term.”

“Brunswick is performing admirably under challenging conditions,” agrees Tim Conder, managing director of leisure equity research at Wachovia Capital Markets, LLC. “U.S. dealer bankruptcies will likely accelerate in the second half of 2008 [see Olympic Boats files for Chapter 11]. The issue here would be the impact of retail repossessions and troubled dealer inventory auctions negatively impacting a more limited pool of retail demand.

“The broader question is ‘What will be the shape of the U.S. marine recovery?’ We feel the answer to this is more gradual and protracted than most anticipate with the second half of 2009 the earliest for stabilization in the U.S. marine market and 2010 the earliest for the beginning of a sustainable gradual recovery.”

Second Quarter Results
For the quarter ended June 28, 2008, net sales decreased to $1,485.4 million, down 2 percent from $1,522.9 million a year earlier.

“Increased sales of commercial fitness equipment, bowling products and from our retail bowling centers, as well as 19 percent growth in non-U.S. sales, helped offset the decline in sales of marine products in the United States,” McCoy explained.

The company recorded an operating loss of $17.2 million for the second quarter of 2008, which includes the previously mentioned $83.1 million of restructuring charges, compared with operating earnings of $86.3 million in the year-ago quarter, including the $1.1 million of restructuring charges. The charges in both years were primarily for asset impairments, severance costs and plant shutdown expenses.

“The company continues to generate positive free cash flow, which provides us with significant liquidity and financial flexibility,” McCoy said. “At quarter end, we had $393 million of cash, up from $267 million at the end of the last quarter,”

Boats and engines
For the quarter, the boat segment had an operating loss of $37.7 million, including restructuring charges of $38.2 million, versus operating earnings of $19.3 million, including $1.0 million of restructuring charges, reported in the second quarter of 2007. Operating earnings for the marine engine segment, consisting of the Mercury Marine Group, in the second quarter decreased to $54.4 million versus $80.3 million, and operating margins declined to 8.5 percent from 12.0 percent for the same quarter in 2007.

“(Boat) sales outside of the United States for the segment were up 35 percent in the quarter, which helped offset the effect of both lower unit volume and exiting certain saltwater and high-performance brands,” McCoy said. “Sales also benefited from a shift in product mix, higher prices and contributions from Boston Whaler, Hatteras Yachts and several outboard boat brands. Meanwhile, overall operating earnings for the Boat Group were adversely affected by the restructuring charges, in addition to the effect of reduced fixed-cost absorption on lower production volume.

“The (engine) segment benefited from growth in non-U.S. sales, which were up 10 percent in the quarter, helping to offset the decline in domestic outboard and stern drive sales,” McCoy said. “As in the Boat segment, reduced fixed-cost absorption on lower production, primarily of stern drive engines, affected operating earnings for the Marine Engine segment.”

Looking ahead
“In addition to our continuing emphasis on introducing new and innovative products across all of our business units, our priorities for the remainder of 2008 are: (1) continuing to lower production levels to achieve reductions in pipeline inventories held by our marine dealers, (2) reducing spending across the company, and (3) implementing the company’s resizing and fixed-cost reduction initiatives announced last month,” McCoy said. “As we stated in June, most of our fiberglass boat plants will be shut down for one month during the third quarter. We have also reduced our capital expenditure budget for this year and halted all discretionary spending. Finally, progress continues on our strategic initiatives. While we have not provided specific earnings estimates, the magnitude of the scheduled production cuts will result in a loss for the second half of this year. Nevertheless, given what we know today, we expect to report positive earnings for the full year, excluding restructuring charges.

“What we are unable to predict is whether a change in market conditions would necessitate additional production cuts, or the possibility of further write-downs of goodwill or other intangibles. Heading into the second half, our cash position remains strong, and we are already close to reaching our year-end target of $400 million, which provides us with significant liquidity and financial flexibility.”
Thanks to boating-industry.com for this.

Brunswick boat and engine sales dip 6 and 4 percent in second quarter

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Hi gang, Rick Ostler here from North American Waterway bring you news and views from the boating industry. Information coming out of Minneapolis, MN. Lund, Crestliner aren’t facing cuts for now in soft boat market. However, recreational boat maker Brunswick Corp. is eliminating 50 jobs at its Bayliner factory in Pipestone, Minn.

 Brunswick Corporation’s announcement on Thursday that it plans to scale back its recreational boat manufacturing won’t have any immediate effect on the company’s two Minnesota-based subsidiaries, Lund Boat Co. and Crestliner Inc., said Brunswick spokesman Dan Kubera.

But he added that the company will eliminate about 50 jobs at its Bayliner boat factory in Pipestone, Minn.

Citing declining sales in the wake of escalating oil prices and a sluggish economy, Brunswick expects to close 12 plants by 2010 and eliminate about 2,700 jobs.

Dustan McCoy, Brunswick’s chairman and chief executive officer, said the retail demand for boats was down 21 percent in the first quarter of 2008.

Numbers for April and May, usually hot months for boat sales, “have shown no release from the declining trend,” he said Thursday morning.

According to Statistical Surveys Inc., which tracks new boat registrations, first-quarter aluminum and fiberglass boat sales were down 20.4 percent from 2007 nationally.

Minnesota boat sales in the first quarter were down 34.1 percent, but Minnesota’s boat builders say it’s not quite time for panicking.

Irwin Jacobs, chairman and chief executive officer of Minneapolis-based Genmar, acknowledged tough times for the boating industry, but said he isn’t too worried yet.

“There is no question that we’re in a different world, business-wise, today,” Jacobs said. “But is the world coming unglued? No, not for us.”

Genmar is the largest privately held boat manufacturer in Minnesota.

Jacobs said Genmar has had some layoffs and has reorganized some production facilities to be more efficient. But he said sales for fiscal 2008, ending next Thursday, will be only about 5 percent lower than the year before.

“We do not have the same problems that Brunswick is projecting,” Jacobs said.

Despite rising fuel costs and a pinch on disposable income, one thing remains true: Minnesotans love their boats.

“[Boating] is really woven into the fabric of our society in the Upper Midwest,” said Luke Kujawa, president and COO for Minneapolis-based Crystal Pierz Marine, a family-owned boat seller since 1956. “People aren’t going to give up boating very easily.” Thanks to EMMA L. CAREW, Star Tribune http://www.startribune.com for this.

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Rick Ostler, North American Waterway

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