Skyline Corporation (NYSE:SKY), one of the larger and oldest independent producers of HUD Code manufactured homes, announced its results for Quarter 1 2017 this week.
The company reported net sales from continuing operations of $61,176,000, states their official report. That includes an increase of approximately 26% over net sales of $48,742,000 from continuing operations over the same quarter one year ago.
Additionally, they reported income from continuing operations of $744,000, as compared to a loss of $895,000 from continuing operations in the first quarter of fiscal 2016 – over a $1.5-million-dollar positive swing.
Skyline reported no income or loss from discontinued operations as compared to income of $61,000 from discontinued operations in the first quarter of fiscal 2016, and net income of $744,000 or $0.09 per share as compared to a net loss of $834,000 or $0.10 per share in the first quarter of fiscal 2016.
“Our continued focus on growing sales and improving margins through disciplined operations generated favorable year-over-year results in the quarter,” commented President and Chief Executive Officer, Richard Florea.
“While we are pleased with the progress we are making, we are committed to capitalizing on the opportunities we have.”
Seeking Alpha and others have tracked their results, as has the Daily Business News. MHProNews manufactured housing market report readers are already aware from our Daily Business News coverage that Skyline’s activity has yielded a 278% stock price increase YTD and the company’s stock price hitting a 52-week high.
That performance has drawn positive interest from hedge funds and private equity investors, see the links above.
Skyline is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For yesterday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##
(Editor’s Note: for our interview with Skyline’s Terry Decio, please click here.)
Skyline’s recent report – as a downloadable resource:
(Image credits are as shown above.)
Submitted by RC Williams to the Daily Business News, MHProNews.