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Screen Shot 2015-01-15 at 8.56.59 AMManufactured home builder Skyline Corp. reported a net loss on an increase in sales for the Elkhart, Ind.-based company’s second quarter, ended Nov. 30.

Skyline noted that financials during the three-month period reflected the sale of its RV assets to EverGreen Recreational Vehicles LLC. In addition, the company said it established a relationship with a manufactured housing retailer that specializes in Internet-based marketing.

In the second quarter of fiscal 2015, Skyline reported:

  • Net sales from continuing operations of $49.7 million, an increase of 27% over net sales of $39.2 million from continuing operations in the year ago quarter.
  • A net loss of $3.4 million, or 41 cents per share, as compared to a net loss of $2.2 million, or 27 cents in the year ago quarter.
  • A net profit from continuing operations of $81,000 as compared to a net loss of $739,000 from continuing operations in the year ago quarter which included a $162,000 gain on sale of idle property, plant and equipment.
  • A net loss from discontinued operations of $3.5 million as compared to a net loss of $1.47 million from discontinued operations in the year ago quarter.

Commenting on the quarter, President and CEO Bruce Page noted, “We still have work to do but we also have significant opportunities ahead of us. We are beginning to see results from our singular focus on driving profitable sales in our manufactured housing business. Our newly formed relationship with an experienced Internet retailer should assist us in more fully exploiting this increasingly important channel of distribution.”

For the first half of fiscal 2015, Skyline reported:

  • Net sales from continuing operations of $99. 3 million, an increase of 29% over net sales of $76.9 million from continuing operations in the comparable period in fiscal 2014.
  • A net loss of $7.2 million, or 86 cents per share, as compared to a net loss of $3.6 million, or 43 cents per share, in the comparable period in fiscal 2014.
  • A net loss from continuing operations of $1.1 million as compared to a net loss of $1.7 million from continuing operations which included a $162,000 gain on sale of idle property, plant and equipment in the comparable period in fiscal 2014.
  • A net loss from discontinued operations of $6.1 million as compared to a net loss of $1.86 million from discontinued operations in the comparable period in fiscal 2014.

For the full report click here.