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MASTERCRAFT BOAT HOLDINGS INC . FOR IMMEDIATE RELEASE Exhibit 99.1 MasterCraft Boat Holdings , Inc. Reports Record Results for Fiscal 2022 First Quarter VONORE , Tenn . November 10 , 2021 MasterCraft Boat Holdings , Inc. ( NASDAQ : MCFT ) today announced financial results for its fiscal 2022 first quarter ended October 3 , 2021 . Highlights : - - Delivered the most profitable first quarter in the Company's history , with record unit sales , net sales , net income , and adjusted EBITDA . Net sales for the first quarter increased to $ 144.0 million , up 38.8 % . Net income was $ 10.4 million or $ 0.55 per diluted share . Diluted Adjusted Net Income per share , a non - GAAP measure , was $ 0.67 , up 15.5 % . Adjusted EBITDA , a non - GAAP measure , increased to $ 19.4 million , up 14.3 % . Initiated purchasing under the $ 50 million share repurchase program . Fred Brightbill , Chief Executive Officer and Chairman , commented , “ Our business performed extremely well during the first quarter in a very challenging and dynamic environment . These results reflect a continuation of exceptional execution against our strategic and operational priorities as we delivered a record - setting performance for the fourth consecutive quarter . Net sales , diluted adjusted earnings per share , and adjusted EBITDA were all the highest for any first quarter in the Company's history . " Brightbill continued , “ Despite many challenges , we had a solid start to fiscal 2022. We achieved industry - leading organic growth , and we will look to build on that success during the remainder of the year . Guided by our consumer- centric strategy and facilitated by our best - in - class operating model , recent third - party industry data confirms we have outperformed many of our top competitors to take meaningful market share . ” First Quarter Results For the first quarter of 2022 , MasterCraft Boat Holdings , Inc. reported consolidated net sales of $ 144.0 million , up $ 40.3 million from the first quarter of 2021. The increase was primarily due to increased volumes . Higher prices , favorable model mix , and higher option sales also contributed to higher net sales . Gross margin declined 440 basis points to 20.9 percent in first quarter 2022 from 25.3 percent in first quarter 2021. Higher revenues yielded a lower margin due to supply chain disruptions and inflationary pressures that drove materials and labor costs higher . In addition , we incurred incremental overhead costs associated with the Merritt Island , Florida facility acquired in second quarter of fiscal 2021 .