The following discussion and analysis should be read in conjunction with the Unaudited Condensed Consolidated Financial Statements and Notes thereto contained elsewhere in this Quarterly Report on Form 10-Q. In addition, the statements in this discussion and analysis regarding our expectations regarding the performance of our business, anticipated financial results, liquidity and other non-historical statements are forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those risks and uncertainties described above under “Cautionary Note Regarding Forward-Looking Statements” and in our 2022 Annual Report under “Risk Factors” Form 10-K. Our actual results could differ materially from those contained or implied in any forward-looking statements.
Certain statements in the following discussion are based on non-GAAP financial measures. A “Non-GAAP Financial Measure” is a numerical measure of a registrant’s historical or future financial performance, financial condition, or cash flows that excludes amounts, or is subject to adjustments that cause the exclusion of amounts that are most directly included in the comparable measure calculated and presented in Accordance with
All segments contributed to the strong performance, reporting significant net sales and improved profitability despite ongoing supply chain disruptions and macroeconomic volatility. Net sales increased
Our sales are affected by general economic conditions, which affect demand for our products, optional features, availability and cost of credit to our dealer and retail customers, and general consumer confidence. While the shipping industry benefited from changes in consumer preferences accelerated by the COVID-19 pandemic in fiscal years 2021 and 2022, macroeconomic headwinds could adversely impact our financial results in fiscal year 2023. However, as retail trends continue to evolve, we believe our highly flexible business model will allow us to mitigate any downward pressure for fiscal 2023.
We will continue to actively monitor the impact of general economic conditions, supply chain disruptions, macroeconomic volatility, inflation and other evolving factors on our business. However, the full extent of the impact on our business, operations and financial results cannot be predicted. See Part I. Item 1A. Risk factors listed in our 2022 Annual Report on Form 10-K.
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