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Skyline

Skyline Reports Q4 Results


Skyline Corp., a maker of park model RVs, recently reported a 5 percent increase of net sales for its fourth quarter of fiscal 2017, going from $56.6 million last year to $59.4 million.

Other results included:

  • Income from continuing operations of $2.3 million as compared to income of $1.5 million from continuing operations in the fourth quarter of fiscal 2016. Included in current year income is a $1.3 million net gain on the sale of property, plant and equipment. 
  • No income or loss from discontinued operations as compared to a loss of $208,000 from discontinued operations in the fourth quarter of fiscal 2016. 
  • Net sales from continuing operations of $236 million, an increase of 11.7 percent over net sales of $211 million from continuing operations in the prior year. Net sales attributable to the Elkhart facility during this period were $11 million, while losses at the Elkhart operations were $2 million. 

“We are pleased to have returned to profitability in the fourth quarter, but our operating and financial performance continued to be adversely impacted by the Elkhart and Mansfield facilities,” said CEO Richard Florea. “With those closures behind us we are focusing our resources on driving profitable sales in our core business. We are encouraged by the overall demand for our products and manufactured housing in general.”

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