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Towable RV, park model and manufactured home producer Skyline Corp. reports its net earnings declined 60% in the first quarter of its 2005 fiscal year ended Aug. 31, in part because its RV and park model-related business posted an operating loss for the June-through-August period.
The New York Stock Exchange-listed company’s net earnings amounted to $806,000 for the three months compared with net earnings of a little over $2 million during the same period a year earlier.
However, Elkhart, Ind.-based Skyline’s RV and park model business reported an operating loss of $1.1 million during the period, compared with an operating profit of $457,000 earned during the same period a year earlier.
Skyline’s manufactured home-related operating earnings also declined 23% during the first quarter of its fiscal 2005 to $2.8 million compared with $3.6 million in pre-tax profits a year earlier.
Skyline’s total sales increased 7% during the June-through-August period to $117.1 million, compared with $109.7 million a year earlier. Its RV and park model-related sales increased 4% during the three months ended Aug. 31 to $32.3 million and its manufactured home-related revenues increased 8% to $84.8 million.