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Skyline releases second quarter financials

(Jan. 15, 2016) -- In the second quarter of fiscal 2016, Skyline Corporation reported net sales from continuing operations of $58,684,000, an increase of 18 percent over net sales of $49,667,000 from continuing operations in the year ago quarter.

ELKHART — In the second quarter of fiscal 2016, Skyline Corporation reported net sales from continuing operations of $58,684,000, an increase of 18 percent over net sales of $49,667,000 from continuing operations in the year ago quarter.

Net income from continuing operations of $1,748,000 as compared to net income of $81,000 from continuing operations in the second quarter of fiscal 2015.

Net loss from discontinued operations of $42,000 as compared to a net loss of $3,525,000 from discontinued operations in the second quarter of fiscal 2015.

Net income of $1,706,000 or $0.20 per share as compared to a net loss of $3,444,000 or $0.41 per share in the second quarter of fiscal 2015.

In the first half of fiscal 2016, Skyline reported the following results:

Net sales from continuing operations of $107,426,000, an increase of 8% over net sales of $99,271,000 from continuing operations in the year ago quarter.

Net income from continuing operations of $853,000 as compared to a net loss of $1,128,000 from continuing operations in the first half of fiscal 2015.

Net income from discontinued operations of $19,000 as compared to a net loss of $6,089,000 from discontinued operations in the first half of fiscal 2015.

Net income of $872,000 or $0.10 per share as compared to a net loss of $7,217,000 or $0.86 per share in the first half of fiscal 2015.

“We continue our focus on driving profitable sales in our business and we are pleased with the profitability we achieved in the quarter,” said CEO Richard W. Florea. “At the same time, we remain fully committed to building long-term shareholder value through increasingly profitable sales.”

SOURCE: Skyline press release

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About Greg Gerber

Greg Gerber is a freelance writer and podcaster who has been writing about the RV industry since 2000. He is the former editor of RV Daily Report.

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