This was mainly due to a boat swap resulting in a reversal of revenues to reflect the different stages of the two boats.
SINGAPORE (May 11): Grand Banks Yachts sank to a net loss of $1.1 million in the third quarter ended March, compared to earnings of $375,000 in the corresponding quarter last year.
Revenue fell 23.6% to $13.2 million, from $17.3 million a year ago.
