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MasterCraft Boat Holdings , Inc. Reports Record Earnings for Fiscal 2021 Second Quarter Exhibit 99.1 VONORE , Tenn . - February 10 , 2021 MasterCraft Boat Holdings , Inc. ( NASDAQ : MCFT ) today announced financial results for its fiscal 2021 second quarter ended January 3 , 2021 . Highlights : Most profitable second quarter in the Company's history Net sales increased to $ 118.7 million , up 19 percent from $ 99.6 million in the prior - year period Gross margin expanded by 340 basis points to 24.7 % Net income was $ 12.5 million or $ 0.66 per diluted share , a 78 percent increase from $ 0.37 in the prior - year period Diluted Adjusted Net Income per share , a non - GAAP measure , was $ 0.75 , a 74 percent increase from $ 0.43 in the prior - year period Adjusted EBITDA , a non - GAAP measure , grew 57 percent to $ 21.3 million from $ 13.6 million in the prior- year period Adjusted EBITDA margin expanded by 430 basis points to 17.9 % Guidance for full - year fiscal 2021 raised on strength of retail demand and wholesale production ramp up Fred Brightbill , Chief Executive Officer and Chairman , commented , " MasterCraft once again delivered financial and operational performance that exceeded expectations , highlighted by our second consecutive quarter of record profits . This performance was a direct result of our team members ' consistent execution on our key strategic priorities and the strength of our brands . In what has continued to be a challenging and dynamic operating environment , we have been able to scale and accelerate production while efficiently managing our supply chain to deliver for our dealers and consumers . " Brightbill continued , “ Execution of our consumer - centric strategy remains our top focus as we look to drive sustainable , accelerated growth . Strong retail demand across all our brands continued in our fiscal second quarter , resulting in a record wholesale backlog that has provided us with tremendous confidence in our outlook and ability to create shareholder value . " Second Quarter Results Net Sales for the second quarter were $ 118.7 million , an increase of $ 19.0 million or 19.1 percent , compared to $ 99.6 million for the prior - year period . The increase was primarily due to higher sales volumes at each of our segments , a favorable mix of higher - priced and higher - contented models and lower dealer incentives . Gross profit increased $ 8.1 million , or 38.5 percent , to $ 29.3 million compared to $ 21.1 million for the prior - year period , principally driven by a favorable mix of higher - priced and higher-