Why did MPX's revenue and expenses drop sharply in Q4 2024?

Marine Products' revenue and expenses dropped sharply in Q4 2024 due to a significant decrease in the number of boats sold and lower revenue from sales: 1. **Revenue Drop**: The total revenue for Q4 2024 was $47.82 million. Compared to the previous year, there was a significant decline in revenue, specifically a 36% decrease to $49.9 million in Q3 2023. This reduction in revenue is a result of lower sales, primarily driven by a 40% decrease in the number of boats sold. 2. **Expense Management**: The company's total expenses for Q4 2024 are not available. However, it is evident that Marine Products has been managing costs and production cautiously, including manufacturing headcount reductions and scaled-back production to align with current demand. This strategic measure indicates a focus on cost control rather than a significant decrease in operational expenses. In summary, the drop in Marine Products' revenue and expenses in Q4 2024 is primarily attributed to decreased sales volume and lower revenue, with efforts being made to manage costs in response to the declining revenue.