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Skyline Corp. Reports Sales Increase, Net Loss

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Skyline Corp., manufacturer of modular homes and park model RVs, reported a net loss in both its fourth quarter and year-end earnings reports Thursday.

Despite the losses, net sales for the company climbed 8 percent in the quarter and 22 percent for the year.

The losses are somewhat less than the company reported last year. In 2014, the company reported a net loss on the year of $7.3 million, but at the end of its 2015 fiscal year, Skyline Corp. had pared that number to a $4.18 million loss.

For the fourth quarter, the company reported net sales from continuing operations of $49.6 million, compared to $46 million in the final quarter of 2014.

Net losses in the quarter reached $149,000, which included a $243,000 gain on sale of idle property, plant and equipment. By comparison, a net loss of $1.67 million from continuing operations occurred in fourth quarter of fiscal 2014.

For the fiscal 2015, Skyline reported net sales from continuing operations of $186.9 million, an increase of 22 percent over net sales of $153 million from continuing operations in fiscal 2014.

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