AZ Central reports that Phoenix, Arizona-based Cavco Industries, Inc., issued a positive earnings statement for the first quarter of the year, showing profits of $1.6 million versus a year ago when it lost $729,000 in Q1. The manufactured home producer’s net sales for the quarter rose seven percent over the same period last year to $38.8 million. The figures include a $950,000 state income tax benefit. The quarter ending March 31 is also Cavco’s fiscal year end, which saw net sales rise to $171.8 million for the year, a 49 percent increase. The company’s net profit increased to $2.8 million for the year versus a loss of $3.37 million the previous year. Cavco purchased Fleetwood Homes in August of 2009, and Fleetwood acquired Palm Harbor Homes last month.