Manufactured home and towable RV builder Skyline Corp. reported its first fiscal quarter earnings increased 14% despite an 8% decline in sales revenue.
The company earned $3.6 million during the three months ended Aug. 31 on sales of $122.2 million, it reported in a Securities & Exchange Commission (SEC) filing.
Skyline’s RV sales revenue increased 4% during the June-through-August period to $31.3 million while its manufactured home revenue declined 11% to $90.9 million.
In terms of unit volume, Skyline shipped 2,326 towable RVs to dealers during the three months ended Aug. 31, a 3% increase over the 2,262 units shipped during the same period a year earlier.
Skyline’s operating earnings increased 36% during the June-through-August period to $4.4 million, while its interest income declined 23% to $1.5 million, the company reported to the SEC.