Manufactured home and towable RV builder Skyline Corp. reported higher net earnings for the September-through-November period despite marginally lower RV sales revenue.
The company’s net earnings increased 20% during its second fiscal quarter, which ended Nov. 30, to $3.7 million, compared with $3.1 million earned a year earlier, according to Skyline’s Securities & Exchange Commission (SEC) filing.
Meanwhile, Skyline’s second fiscal quarter sales revenue from producing manufactured homes and RVs declined 2% to $118.1 million. Its RV sales also slipped 2% to $21.9 million.
Skyline’s RV operations lost $679,000 pre-tax during its second fiscal quarter, but the company was able to report a profit because its manufactured home building operations earned $6.9 million pre-tax and its pre-tax interest income amounted to $1.2 million.
During the six months ended Nov. 30, Skyline’s net earnings increased 17% to $7.3 million even though its total sales revenue declined 5% to $240.3 million.
The company’s RV sales increased 1% during the six months ended Nov. 30 to $53.2 million but its RV operations lost $118,000 pre-tax.
Skyline’s manufactured home building business earned $12.1 million pre-tax during the six months ended Nov. 30 and its interest income amounted to $2.7 million during the period.