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Manufactured home and towable RV builder Skyline Corp. reports its first fiscal quarter RV operating earnings plunged 77%.
In a report to the Securities & Exchange Commission (SEC), Skyline reports it earned $127,000 from RV building operations during the three months ended Aug. 31, compared with $561,000 in RV operating earnings during the same portion of 2001.
The lower operating earnings occurred despite a 13% increase in RV sales revenue in the June-through-August period to $35.4 million, according to the New York Stock Exchange-listed company.
Meanwhile, Skyline’s manfactured home operating earnings declined 36% in the first fiscal quarter to $3.3 million and its manufactured home sales revenue slipped 11% lower to $81.1 million during the period, the company reported to the SEC.