Manufactured home and towable RV manufacturer Skyline Corp. reports its first fiscal quarter net earnings declined 49% because its manufactured housing business continues to be negatively impacted by “competitive pricing resulting from difficult marketing conditions, restrictive retail financing and a soft U.S. economy.”
Skyline’s earnings totaled $1.8 million during the three months ended Aug. 31, compared with $3.6 million a year earlier.
The Elkhart, Ind.-based company’s RV sales revenue increased 13% during the June-through-August period to $35.4 million, but its manufactured home sales declined 11% to $81.1 million.