Skyline Sees Flat 1Q Revenue, Pares Net Loss
Elkhart, Ind.-based RV and manufactured housing builder Skyline Corp. reported flat sales for the fiscal first quarter of 2013 while improving on its net loss.
According to documents filed with Security and Exchange Commission (SEC) sales during the first quarter totaled $49.9 million, an approximate 1% decrease from $50.3 million in the same period a year ago.
RV sales were $19 million in the first quarter, a 10% decrease from $21.1 million a year ago. Housing sales rose 6% to $30.9 million from $29.1 million in the first quarter of fiscal 2012.
Net loss for the first quarter was $3.5 million as compared to $6.8 million the previous year. On a per share basis, net loss was 41 cents as compared to 82 cents for the same period a year ago.
The company said that decreases in the RV segment were caused primarily by a decline in sales to Canadian dealers.