BRUNSWICK
COMPLETES SALE
OF
MARINEMAX STOCK
LAKE FOREST, Ill., Feb. 23,
2005 - Brunswick Corporation (NYSE: BC) said today that it had
completed the previously announced sale of its 1,861,200 shares of MarineMax,
Inc. (NYSE: HZO) common stock. The sale was made pursuant to a registered public
offering by MarineMax.
Proceeds
from the stock sale totaled approximately $57.6 million pre tax, net of $3.4
million of selling expenses. The company said it would record a pre-tax gain on
the sale estimated at $39 million in the first quarter of 2005. The after-tax
gain of approximately $32 million, or $0.32 per diluted share, reflects the
benefit from applying tax loss carry forwards to the transaction. The company
added that it currently intends to use the estimated $52 million of net cash
proceeds for general corporate purposes, including possible
acquisitions.
About
Brunswick
Headquartered
in Lake Forest, Ill., Brunswick Corporation endeavors to instill “Genuine
Ingenuity”™
in all its leading consumer brands, including Mercury and Mariner outboard
engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling
motors; Teignbridge propellers; MotoTron electronic controls; Northstar marine
electronics; Navman marine and GPS-based products; IDS dealer management
systems; Sea Ray, Bayliner, Maxum, Hatteras, Meridian, Sealine, Bermuda, Ornvik,
Quicksilver, Savage and Uttern pleasure boats; Baja high-performance boats;
Arvor, Boston Whaler, Palmetto, Sea Boss, Sea Pro and Trophy offshore fishing
boats; Crestliner, Lowe, Lund and Princecraft aluminum fishing, deck and pontoon
boats; Attwood marine parts and accessories; Land ‘N’ Sea marine parts and
accessories distributor; Life Fitness, Hammer Strength and ParaBody fitness
equipment; Brunswick bowling centers, equipment and consumer products; Brunswick
billiards tables; and Valley-Dynamo pool, Air Hockey and foosball tables. For
more information, visit www.brunswick.com.
