-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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<SEC-DOCUMENT>0000891092-05-000872.txt : 20050503
<SEC-HEADER>0000891092-05-000872.hdr.sgml : 20050503
<ACCEPTANCE-DATETIME>20050502180001
ACCESSION NUMBER:		0000891092-05-000872
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050502
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050503
DATE AS OF CHANGE:		20050502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARINE PRODUCTS CORP
		CENTRAL INDEX KEY:			0001129155
		STANDARD INDUSTRIAL CLASSIFICATION:	SHIP & BOAT BUILDING & REPAIRING [3730]
		IRS NUMBER:				582572419
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16263
		FILM NUMBER:		05792241

	BUSINESS ADDRESS:	
		STREET 1:		2170 PIEDMONT ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30324
		BUSINESS PHONE:		4043212140

	MAIL ADDRESS:	
		STREET 1:		2170 PIEDMONT ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30324
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e20831_8k.txt
<DESCRIPTION>FORM 8-K
<TEXT>
================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                        --------------------------------

                                    FORM 8-K

                        --------------------------------

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

          Date of Report (Date of earliest event reported): May 2, 2005

                           MARINE PRODUCTS CORPORATION
             (Exact name of registrant as specified in its charter)

                        --------------------------------

          Delaware                        1-16263                58-2572419
(State or Other Jurisdiction     (Commission File Number)       (IRS Employer
      of Incorporation)                                      Identification No.)

                 2170 Piedmont Road, NE, Atlanta, Georgia 30324
               (Address of principal executive office) (zip code)

       Registrant's telephone number, including area code: (404) 321-7910

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

================================================================================

<PAGE>

Item 2.02  Results of Operations and Financial Condition.

On April 27, 2005, Marine Products Corporation held a conference call to discuss
the first quarter 2005 financial results and answer questions from the
investment community.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Except for the  historical  information  contained  in this report and the press
release  and  earnings  call  transcript   furnished  as  exhibits  hereto,  the
statements made by Marine Products  Corporation are  forward-looking  statements
that involve risks and uncertainties.  Such  forward-looking  statements include
(but are not limited to) all information constituting, described as, or relating
to  guidance,  plans,  hopes,  expectations,  predictions,  forecasts,  guesses,
projections,  prospects,  trends,  and any and all other statements that express
opinions  and  discuss,  relate to, or  describe  facts or events in the future,
including the performance of the company.  All such  forward-looking  statements
are subject to the safe  harbor  created by the  Private  Securities  Litigation
Reform Act of 1995 and involve known and unknown risks,  uncertainties and other
factors  which may cause the actual  results,  performance  or  achievements  of
Marine Products to be materially different from any future results,  performance
or achievements  expressed or implied in such forward-looking  statements.  Such
risks include Marine  Products'  dependence on its network of  independent  boat
dealers,  which may affect its growth plans and net sales,  weather  conditions,
personal  injury or property  damage  claims,  inability to obtain  adequate raw
materials,  inability  to  continue  to increase  the  production  of the Robalo
product  line,  realization  of repurchase  obligations  under  agreements  with
third-party dealer floor plan lenders, the effects of the economy and inflation,
on the demand  for power  boats,  competitive  nature of the  recreational  boat
industry, inability to complete acquisitions,  loss of key personnel, or ability
to attract and retain qualified  personnel.  Additional factors that could cause
the  actual  results  to differ  materially  from  management's  forward-looking
statements  are  discussed  in  Marine  Products's  Form  10-K  filed  with  the
Securities and Exchange  Commission for the year ended December 31, 2004. Marine
Products   disclaims   any   obligation  or  duty  to  update  or  modify  these
forward-looking statements.

Item 9.01  Financial Statements and Exhibits.

      (c) Exhibits.

      Exhibit 99 - Conference Call Transcript dated April 27, 2005.


                                      -2-
<PAGE>

                                   SIGNATURES

Pursuant to the  requirements  of the  Securities  Exchange Act of 1934,  Marine
Products  Corporation  has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                                           Marine Products Corporation.

Date:  May 2, 2005                         /s/ BEN M. PALMER
                                           -------------------------------------
                                           Ben M. Palmer
                                           Vice President,
                                           Chief Financial Officer and Treasurer




                                      -3-
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>e20831_ex99.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
                                                                      EXHIBIT 99
                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 1

                                 MARINE PRODUCTS

                           Moderator: Richard Hubbell
                                 April 27, 2005
                                   8:00 am CT

Operator:             Good morning and thank you for joining us for Marine
                      Products' first quarter 2005 conference call. Today's call
                      will be hosted by (Rick) Hubbell, President and CEO and
                      Ben Palmer, CFO. Also present we have Jim Landers of
                      Corporate Finance and Investor Relations.

                      At this time all participants are in listen-only mode.
                      Following the presentation we will conduct a question and
                      answer session. Instructions will be provided at that time
                      for you to cue up for questions.

                      I would like to advise everyone that this conference call
                      is being recorded. Jim will get us started by reading the
                      forward-looking disclaimer.

James Landers:        Good morning. Before we get started today I'd like to
                      remind everyone that we're going to be discussing a few
                      things that are not historical facts. Some of the
                      statements that we made on this call will be
                      forward-looking in nature and as such reflect a number of
                      known and unknown risks.

                      I'd like to refer you to our press release issued today
                      and our 2004 10K and other public filings that outline
                      these risks, all of which are available on our Web site at
                      www.marineproductscorp.com.

<PAGE>

                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 2

                      I'd also like to apologize in advance, we're having some
                      technical problems this morning and our server is down so
                      we're working to get that back in operation as soon as
                      possible.

                      You should have received an email from us if you're on our
                      email list with our press releases this morning and you
                      should be able to hear this conference call archive later
                      on our Web site if you'd like to do that.

                      If you haven't received our press release for any reason
                      please call us at 404-321-7910 and we'll fax or email one
                      to you immediately.

                      This morning management will make a few comments about the
                      quarter and then will be available for your questions. In
                      order to allow everyone to hear the call and start their
                      work day on time we're going to try to limit this call to
                      30 minutes this morning.

                      Now I'll turn the call over to our President and Chief
                      Executive Officer, (Rick) Hubbell.

Richard Hubbell:      Thanks Jim. We issued our earnings press release for the
                      first quarter of 2005 this morning. Ben Palmer our CFO who
                      will discuss the financial results in more detail in a
                      moment.

                      At this time I'd like to briefly discuss our operating
                      highlights. Marine Products had a good quarter. Net sales
                      increased by 17%. This increase was due to an 11% increase
                      in the number of boats sold, a 5% increase in the average
                      selling price per boat and an increase in parts and
                      accessory sales.

<PAGE>

                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 3

                      The increase in unit sales was highlighted by increased
                      sales of the Robalo sport fishing boats and the Sunesta
                      deck boats. The increase in average selling price was due
                      to higher sales of our larger SSI sport boats and
                      Signature Cruisers.

                      Our unit backlog is currently lower than at this time last
                      year due to increases in production levels and dealer
                      inventory. We believe we're in a better position to
                      support the retail sales. For the coming year we plan to
                      continue to expand Robalo, focus on the strategy of
                      selling our larger boat models.

                      We have experienced success in our retail training program
                      in which we train the sales personnel at the dealers how
                      to sell Chaparral and Robalo boats by identifying the key
                      features and benefits compared to the competition. So we
                      plan to move forward with this program in 2005.

                      The winter boat show season was strong for marine products
                      and we are moving forward with high production levels to
                      support the retail sales demand.

                      We are now in the second quarter and are making
                      preparations for the 2006 model year with several new
                      models for the upcoming dealer meeting.

                      We would like to offer congratulations to our operating
                      management who have again generated outstanding sales
                      growth for this quarter.

                      That concludes the operational overview and at this time I
                      will turn it over to our CFO, Ben Palmer.

Ben Palmer:           Thank you (Rick). I'll cover the financial results in a
                      little more detail now.

                      For the current quarter we generated net sales of $72.6
                      million which is a 17.4% increase compared to $61.8
                      million last year. Unit sales volume increased 11.2%
                      compared to last year. (Rick) indicated that the higher
                      sales for the Robalo sport

<PAGE>

                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 4

                      fishing boat and that's exactly what - we had some new
                      models that were really successful.

                      Our average selling price per boat increased 5.9% compared
                      to first quarter of last year. The increase in average
                      selling prices was due to an increase in sales within the
                      larger boat line including the sport boats, including the
                      - some of the really new popular models and the Signature
                      Cruisers.

                      Gross margin as a percentage of net sales for the quarter
                      was 26.1% compared to 25.4% last year. The increase in
                      gross profit as a percentage of sales was a result of
                      efficiencies resulting in higher production volumes and a
                      favorable model mix.

                      Our selling, general and administrative costs increased
                      from $7.1 million last year to $8.8 million this year.
                      Increase was primarily due to an increase in incentive
                      compensation sales commissions which was a result of a
                      higher gross margin as a percentage of net sales and
                      higher operating profit.

                      In addition, we incurred additional expenses associated
                      with public company compliance. Diluted earnings per share
                      were 17 cents; a 21.4% increase compared to 14 cents
                      diluted earnings per share in the prior year.

                      We continue to work on strengthening the balance sheet.
                      Our cash and cash equivalent increased approximately $16
                      million from one year ago and now it's up to $49.2
                      million. Our working capital stands at $68 million as of
                      the end of the quarter.

                      Inventory did increase about $9.5 million but this was -
                      this is due to supporting higher production volumes and
                      also due to the timing of some shipments right around
                      quarter end.

<PAGE>

                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 5

                      Accounts receivable decreased from $8 million last year to
                      $4.5 million this year and that also again is due to the
                      timing of shipment and the timing of dealer payments.
                      Typically we receive those payments within seven to ten
                      days after a shipment is received by the dealer.

                      Also I'm glad to announce that the Board of Directors
                      again announced a first quarter dividend of four cents per
                      share.

                      With that I'll turn it back over to (Rick).

Richard Hubbell:      Ben thanks a lot.

                      The first quarter sales continue to reflect strong demand
                      for our products. All of our lines sold well this quarter
                      and our overall model mix improved the average selling
                      price per boat.

                      In the fourth quarter we reorganized our production plans
                      in order to make them more efficient. This proved to be a
                      successful endeavor because at the end of the first
                      quarter our unit backlog was lower than at this time last
                      year due to higher production levels.

                      There was also an increase in dealer inventories so we are
                      better equipped to support increased retail sales but we
                      are comfortable with these increasing levels of
                      production. Due to a strong boat show season this year we
                      are closely monitoring these key indicators as well as the
                      macro economic indicators such as consumer confidence and
                      interest rates.

                      I'd like to also point out that we do not issue earnings
                      guidance. Also we do not confirm the validity of any
                      published analyst estimates. I thank you for joining us
                      and at this time we will open up the call to discuss any
                      questions that you may have.

<PAGE>

                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 6

Operator:             At this time if you would like to ask a question press
                      star then the number one on your telephone keypad. If
                      you'd like to withdraw your question press, star then the
                      number two on your telephone keypad. We'll pause for just
                      a moment to compile the Q&A roster.

                      Your first question is from (Joe Havorka) from Raymond
                      James.

(Brandon Taylor):     Hi guys this is (Brandon Taylor) filling in for (Joe
                      Havorka).

Ben Palmer:           Yeah hey (Brandon) how you doing?

(Brandon Taylor):     Doing good how about you?

Ben Palmer:           Good thanks.

(Brandon Taylor):     I was just wondering if you had any more color as far as
                      inventory levels year over year?

Richard Hubbell:      Inventory you mean inventory at year end?

(Brandon Taylor):     Yes.

Richard Hubbell:      More color. Not really, again we had some maybe a little
                      bit. We had a number of Cruisers that the shipments were
                      delayed at year end or at quarter end and that's often
                      times due to again just timing, It depends on, you know,
                      the trailer loads and getting it all coordinated.

                      So that contributed to the increase and also there were
                      probably some selected perks of some things like engines
                      and that sort of thing near quarter end that probably
                      bumped it up some.

<PAGE>

                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 7

(Brandon Taylor):     Okay thank you.

Ben Palmer:           Thanks (Brandon).

(Brandon Taylor):     Bye bye.

Operator:             Your next question comes from (Jeff Virgil) of (Polar).

(Jeff Virgil):        Hi you referenced in the press release about the backlog
                      being down year over year. Can you provide sort of maybe a
                      unit count or just some more clarity on that?

Richard Hubbell:      Yeah we don't typically give those kind of numbers out.

Ben Palmer:           Only at year end.  It's disclosed in our 10K.

(Jeff Virgil):        Oh okay can you help me out. I'm sort of new to the story
                      as to where it was to maybe at year end?

Ben Palmer:           Where backlog was at year end.

Richard Hubbell:      We're looking it up. It was a little over 2,000 units I
                      believe.

(Jeff Virgil):        Two thousand units. Okay and then while you're looking for
                      that the other thing I had to say - ask about was price
                      increases and whether you've seen any. I know your ASP was
                      up due to mix. Is there any sort of price increases there
                      due to raw materials?

<PAGE>

                                                                 MARINE PRODUCTS
                                                      Moderator: Richard Hubbell
                                                              4-27-05/8:00 am CT
                                                           Confirmation #5580145
                                                                          Page 8

Richard Hubbell:      Yes we instituted a price increase on January 1 based on
                      the fact that our raw materials costs, specifically
                      stainless steel and resin, had gone up a bit. That was a
                      1% price increase again it took effect on January.

(Jeff Virgil):        So is that enough to offset the full cost of higher raw
                      materials?

Richard Hubbell:      We believe that it was. That is what it was designed to
                      do.

(Jeff Virgil):        Okay all right.

Operator:             Again if you would like to ask a question press star then
                      the number one on your telephone keypad.

                      At this time there are no further questions.

                      Again at this time there are no further questions sir.

James Landers:        Okay well we appreciate everyone's participating in the
                      call this morning and hope everyone has a good day. Thank
                      you.

Operator:             This concludes today's conference call. You may now
                      disconnect.

                                       END

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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