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Exhibit 99.1
|
NEWS RELEASE | |
Skyline Corporation | ||
2520 By-Pass Road | ||
P.O. Box 743 | ||
Elkhart, Indiana 46515-0743 | ||
(574) 294-6521 | ||
Subject: FOURTH QUARTER REPORT | Approved by: JON S. PILARSKI |
ELKHART, INDIANA AUGUST 22, 2014
SKYLINE REPORTS RESULTS FOR FOURTH QUARTER AND YEAR END
Skylines net sales for the fourth quarter of fiscal year 2014 were $57,701,000 as compared to $48,832,000 in the fourth quarter of fiscal 2013. For fiscal 2014, net sales were $191,730,000 as compared to $177,574,000 for fiscal 2013.
Net sales for Skylines housing segment were $43,629,000 in the fourth quarter of fiscal 2014 as compared to $29,533,000 in the fourth quarter of fiscal 2013. For fiscal 2014, net sales were $145,864,000 as compared to $111,104,000 in fiscal 2013.
Net sales for Skylines recreational vehicle segment were $14,072,000 in fiscal 2014s fourth quarter as compared to $19,299,000 in the fourth quarter of fiscal 2013. For fiscal 2014, net sales were $45,866,000 as compared to $66,470,000 for the same period a year ago.
Skyline reported a net loss of $2,560,000 in the fourth quarter of fiscal 2014 as compared to net income of $45,000 in the fourth quarter of fiscal 2013. On a per share basis, net loss was $.30 as compared to net income of $.01 for the same period a year ago. For fiscal 2014, net loss was $11,864,000 as compared to a net loss of $10,513,000 for a year ago. Net loss per share was $1.41 as compared to a net loss per share of $1.25 for the same period a year ago. Included in current years pretax loss was a gain on the sale of idle property, plant and equipment of $244,000 and $706,000 for the fourth quarter and year, respectively. Likewise, prior years pretax loss for the fourth quarter and year included a $230,000 and $1,641,000 gain on the sale of idle property, plant and equipment, respectively.
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BRINGING AMERICA HOME. BRINGING AMERICA FUN.
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