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|2520 By-Pass Road|
|P.O. Box 743|
|Elkhart, Indiana 46515-0743|
|Subject: FOURTH QUARTER REPORT||Approved by: JON S. PILARSKI|
ELKHART, INDIANA JULY 26, 2013
SKYLINE REPORTS RESULTS FOR FOURTH QUARTER AND YEAR END
Skylines net sales for the fourth quarter of fiscal year 2013 were $48,832,000 as compared to $50,461,000 in the fourth quarter of fiscal 2012. For fiscal 2013, net sales were $177,574,000 as compared to $182,846,000 for fiscal 2012.
Net sales for Skylines housing segment were $29,533,000 in the fourth quarter of fiscal 2013 as compared to $28,789,000 in the fourth quarter of fiscal 2012. For fiscal 2013, net sales were $111,104,000 as compared to $109,157,000 in fiscal 2012.
Net sales for Skylines recreational vehicle segment were $19,299,000 in fiscal 2013s fourth quarter as compared to $21,672,000 for the fourth quarter of fiscal 2012. For fiscal 2013, net sales were $66,470,000 as compared to $73,689,000 for the same period a year ago.
Skyline reported net income of $45,000, or $.01 per share, in the fourth quarter of fiscal 2013 as compared to a net loss of $1,711,000, or $.21 per share, in the fourth quarter of fiscal 2012. Included in pretax income for the current years fourth quarter was a $230,000 gain on the sale of idle property, plant and equipment. Likewise, prior years pretax loss for the fourth quarter included a $684,000 gain on the sale of idle property, plant and equipment.
For fiscal 2013, net loss was $10,513,000, or $1.25 per share as compared to a net loss of $19,365,000, or $2.31 per share, for a year ago. Included in current years pretax loss was a $1,641,000 gain on the sale of idle property, plant and equipment. Likewise, prior years pretax loss included a $3,184,000 gain on the sale of idle property, plant and equipment.
Skyline continues to maintain a balance sheet with no debt and a significant position of its working capital in cash and U.S. Treasury Bills. This financial strength, along with experienced employees and initiatives to increase revenues and reduce costs, should assist the Corporation in meeting challenges as they occur.
The following information was filed by Skyline Champion Corp (SKY) on Friday, July 26, 2013 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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