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ELKHART, INDIANA -— JULY 25, 2008
SKYLINE REPORTS FOURTH QUARTER, YEAR-END RESULTS
Sales for the fourth quarter of Skyline Corporation’s 2008 fiscal year were $70,859,000 compared to $88,536,000 last year. Net earnings for the three-month period were $191,000 equal to $0.02 per share, compared to net earnings of $2,247,000, or $0.27 per share, for the same period a year ago.
Sales for fiscal 2008 were $301,765,000 compared to $365,473,000 of a year earlier. Net loss for fiscal 2008 was $5,556,000, or $0.66 per share, compared to net earnings of $2,593,000, or $0.31 per share, for fiscal 2007. Net loss per share for fiscal 2008 includes a gain on the sale of idle property, plant and equipment of $0.05.
Sales for Skyline’s manufactured housing group for fiscal 2008 were $214,794,000 compared to $272,383,000 of fiscal 2007. The group’s sales for the fiscal 2008 fourth quarter totaled $45,439,000 compared to $64,035,000 of the comparable period of fiscal 2007.
For Skyline’s RV group, sales for fiscal 2008 were $86,971,000 compared to $93,090,000 of fiscal 2007. The RV group’s sales for fiscal 2008’s fourth quarter were $25,420,000 compared to $24,501,000 of the fourth quarter of fiscal 2007.
Skyline continues to maintain its traditionally strong balance sheet with no debt and a healthy position in cash and temporary cash investments. This financial strength, along with a seasoned management team, should help the company meet the challenges ahead.
The following information was filed by Skyline Champion Corp (SKY) on Friday, July 25, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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