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Wall Street Gives Skyline Another Great Day

Posted By RVBusiness On December 20, 2010 @ 10:19 am In Breaking News | No Comments

Skyline Corp. stock jumped 14.01% to a 52-week high of $27.50 on Wall Street Friday (Dec. 17).

Volume soared to 303,637 million shares traded, many times over its average daily volume of 19,145 shares.

Skyline stock has appreciated nearly 50% year-to-date.

Based in Elkhart, Ind., Skyline is a manufacturer of RVs and manufactured housing.

The stock’s price over the past year has ranged from a low of $16.25 to Friday’s high.

The company, which closed its second fiscal quarter on Nov. 30, is in its “quiet period” and is required by the Securities and Exchange Commission (SEC)  not to comment on matters. In fact, Skyline routinely does not comment on its stock trading.

Skyline will be reporting its second quarter results no later than Jan. 9.

The company’s last public comment was its 8-K, filed on Oct. 8 with the SEC  for its first quarter of fiscal 2011. Sales for the quarter  were $45,827,000 as compared to $35,874,000 in the first quarter of fiscal 2010.

Sales for Skyline’s manufactured housing segment were $30,629,000 as compared to $25,782,000 for the first quarter a year ago. Sales for Skyline’s recreational vehicle segment were $15,198,000 for the first three months of fiscal 2011 as compared to prior year’s total of $10,092,000.

Fiscal 2011’s first quarter loss before income taxes was $6,065,000 as compared to fiscal 2010’s first quarter loss before income taxes of $6,113,000. Included in prior year’s pretax loss is $412,000 of income from life insurance proceeds.

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