Skyline Presents Earnings Report

RVBusiness tells that Skyline Corporation reported for its fiscal third quarter ending Feb. 29, 2012 total net sales of $36.8 million, a 16 percent increase over the $31.8 million for the same period last year. Net loss for the fiscal third quarter amounted to $7.4 million, an improvement from the net loss of $8.7 million for the same period one year ago. Based in Elkhart, Indiana, Skyline is closing its Hemet, California RV facility due to weak demand. Additionally, the company settled its lawsuit in the case of FEMA formaldehyde product liability litigation at a cost of $400,000. The board also voted to suspend dividend payments on the outstanding shares of the company’s common stock, and will consider the possible amount and future of divided payments.Skyline produces manufactured housing and recreational vehicles.

(Image credit: Skyline Corp.)

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