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Cavco Reports Income Boost in Q4, Fiscal Year

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Cavco Industries, a manufacturer of park model RVs, today announced financial results for the fourth quarter and year, representing increased revenues and profit for the fourth quarter and year ending March 28.

Net revenue for the fourth quarter of fiscal year 2015 totaled $141.2 million, up 7.7 percent from $131.2 million for the fourth quarter of fiscal year 2014. Net revenue for fiscal year 2015 was $566.7 million, an increase of 6.2 percent from $533.3 million for the prior fiscal year.

Income before income taxes was $9.1 million for the 2015 fourth fiscal quarter, a $2.6 million increase over $6.5 million reported in last year’s fourth fiscal quarter. For the fiscal year ended March 28, income before income taxes increased $9.5 million to $37.3 million versus $27.8 million for the prior fiscal year.

Net income attributable to Cavco stockholders was $6 million for the fourth quarter of fiscal year 2015, compared to $4.2 million reported in the same quarter of the prior year.

For the fiscal year ended March 28, net income attributable to Cavco stockholders was $23.8 million, compared to $16.2 million for the year ended March 29, 2014.

Results for the prior fiscal year include a deduction of $2.5 million from net income attributable to redeemable noncontrolling interest, which was eliminated beginning in July 2013 in relation to the buyout of the redeemable noncontrolling interest, as previously reported.

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