Exhibit 99.1

SKYLINE CHAMPION ANNOUNCES FOURTH QUARTER AND FULL YEAR FISCAL 2019 RESULTS

ELKHART, Indiana, May 21, 2019 / Business Wire/

-- Skyline Champion Corporation (NYSE:SKY) (“Skyline Champion”), today announced financial results for its fourth quarter and full year ended March 30, 2019 (“fiscal 2019”).

Fourth Quarter Fiscal 2019 Highlights (compared to Fourth Quarter Fiscal 2018)

 

Net sales increased 23% to $327.7 million

 

Total homes sold increased 13% to 5,066

 

Gross profit as a percent of sales expanded by 395 basis points to 20.3%  

 

Net income of $9.2 million, compared to a net loss of $2.3 million

 

EPS was $0.16; excluding non-recurring expenses, Adjusted EPS was $0.26

 

Adjusted EBITDA increased 86% to $24.2 million

 

Adjusted EBITDA margin expanded by 250 basis points to 7.4%

Full Year Fiscal 2019 Highlights (compared to Full Year Fiscal 2018)

 

Net sales increased 28% to $1,360.0 million

 

Total homes sold increased 19% to 20,675

 

Gross profit as a percent of sales expanded by 140 basis points to 18.0%  

 

Net loss of $58.2 million, compared to net income of $15.8 million, the year-over-year decline includes $101.4 million in non-cash, equity-based compensation expense

 

EPS was a net loss of $1.09; excluding non-recurring expenses, Adjusted EPS was net income of $1.04

 

Adjusted EBITDA increased 50% to $97.1 million

 

Adjusted EBITDA margin expanded by 107 basis points to 7.1%

 

Net operating cash flows of $65.2 million

“Fiscal 2019 was a truly significant year as we brought together two great companies to form Skyline Champion,” said Keith Anderson, Skyline Champion’s Chief Executive Officer.  “We made meaningful progress in our integration, while also delivering impressive growth and operational improvement.  The company is on track with our previously announced capacity expansions in Pennsylvania and Louisiana as well as our strategic initiatives to continue to drive future value for our employees, customers and shareholders.  While we experienced some demand softness during the fourth quarter due in part to weather and retail inventory levels, we were able to generate strong year-over-year margin expansion, and we believe the longer-term demand environment remains healthy as we look into fiscal 2020.”

 


The following information was filed by Skyline Champion Corp (SKY) on Wednesday, May 22, 2019 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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