Excess inventory continues to be an issue

InfoLink.docAttached is an article that was published in Boating Industry which provides and indication of what is happening in the field relative to inventory. Since this was published, the situation has deteriorated further with inventory days now up and well over the 400 days mark. According to our Bellwether Report, we have seen a slowing of the rate of decline in unit sales through August. However, this in conjunction with the days inventory meausure would suggest that unit sales are likely getting a little "bump" from extremely distressed inventory working its way through the system. We will want to see these inventory days start to come down before we will be able to say that things are on the way to the "new normal" which we believe will be significantly lower field inventory than we have seen historically.