$SKY
Champion Homes, Inc.

2014 Q4 Form 10-Q Financial Statement

#000119312515010721 Filed on January 14, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4 2013 Q3
Revenue $49.67M $39.21M $37.66M
YoY Change 26.68% -6.28% -24.55%
Cost Of Revenue $44.51M $35.40M $44.67M
YoY Change 25.73% -9.6% -4.69%
Gross Profit $5.158M $3.807M $3.603M
YoY Change 35.49% 42.37% 17.78%
Gross Profit Margin 10.39% 9.71% 9.57%
Selling, General & Admin $5.008M $4.733M $5.733M
YoY Change 5.81% -18.66% -12.21%
% of Gross Profit 97.09% 124.32% 159.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $300.0K $400.0K $490.0K
YoY Change -25.0% -20.0% -9.93%
% of Gross Profit 5.82% 10.51% 13.6%
Operating Expenses $5.008M $4.733M $5.733M
YoY Change 5.81% -18.66% -12.21%
Operating Profit $150.0K -$764.0K -$1.404M
YoY Change -119.63% -55.94% -59.55%
Interest Expense $93.00K $0.00 $0.00
YoY Change
% of Operating Profit 62.0%
Other Income/Expense, Net
YoY Change
Pretax Income $81.00K -$739.0K -$1.379M
YoY Change -110.96% -57.16% -60.24%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$3.444M -$2.213M -$1.379M
YoY Change 55.63% 28.29% -60.24%
Net Earnings / Revenue -6.93% -5.64% -3.66%
Basic Earnings Per Share -$0.41 -$0.27 -$0.16
Diluted Earnings Per Share -$404.8K -$258.8K -$166.7K
COMMON SHARES
Basic Shares Outstanding 8.391M shares 8.391M shares 8.391M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.800M $14.60M $16.10M
YoY Change -67.12% -38.4% -35.6%
Cash & Equivalents
Short-Term Investments $5.000M $7.000M
Other Short-Term Assets $974.0K $632.0K $464.0K
YoY Change 54.11% -86.26% -88.4%
Inventory $9.155M $9.965M $9.851M
Prepaid Expenses
Receivables $13.59M $12.11M $12.99M
Other Receivables $0.00 $100.0K $0.00
Total Short-Term Assets $33.10M $40.60M $42.68M
YoY Change -18.46% -14.36% -14.12%
LONG-TERM ASSETS
Property, Plant & Equipment $13.56M $17.43M $17.77M
YoY Change -22.25% -10.59% -14.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.855M $6.347M $6.326M
YoY Change 8.0% 4.05% 2.03%
Total Long-Term Assets $21.97M $25.39M $25.72M
YoY Change -13.48% -6.67% -4.4%
TOTAL ASSETS
Total Short-Term Assets $33.10M $40.60M $42.68M
Total Long-Term Assets $21.97M $25.39M $25.72M
Total Assets $55.07M $65.98M $68.40M
YoY Change -16.54% -11.55% -10.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.000M $2.100M $3.700M
YoY Change -4.76% -27.59% -13.95%
Accrued Expenses $10.10M $11.00M $9.600M
YoY Change -8.18% 0.92% -2.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.92M $16.18M $16.26M
YoY Change -7.83% 3.07% 2.25%
LONG-TERM LIABILITIES
Long-Term Debt $6.300M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.200M $7.700M $7.900M
YoY Change -6.49% -3.75% -1.25%
Total Long-Term Liabilities $13.58M $7.741M $7.872M
YoY Change 75.47% -3.24% -1.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.92M $16.18M $16.26M
Total Long-Term Liabilities $13.58M $7.741M $7.872M
Total Liabilities $28.50M $23.92M $24.13M
YoY Change 19.12% 0.94% 0.96%
SHAREHOLDERS EQUITY
Retained Earnings $87.07M $102.6M $104.8M
YoY Change -15.1% -7.99% -7.44%
Common Stock $5.240M $5.240M $5.240M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $65.74M $65.74M $65.74M
YoY Change 0.0%
Treasury Stock Shares 2.826M shares 2.826M shares 2.826M shares
Shareholders Equity $26.57M $42.06M $44.27M
YoY Change
Total Liabilities & Shareholders Equity $55.07M $65.98M $68.40M
YoY Change -16.54% -11.55% -10.7%

Cashflow Statement

Concept 2014 Q4 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$3.444M -$2.213M -$1.379M
YoY Change 55.63% 28.29% -60.24%
Depreciation, Depletion And Amortization $300.0K $400.0K $490.0K
YoY Change -25.0% -20.0% -9.93%
Cash From Operating Activities -$600.0K -$1.700M $175.0K
YoY Change -64.71% -5.56% -104.37%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$500.0K $4.000K
YoY Change -60.0% -73.33%
Acquisitions
YoY Change
Other Investing Activities $2.500M $2.600M -$112.0K
YoY Change -3.85% 4.0% 433.33%
Cash From Investing Activities $2.300M $2.200M -$2.881M
YoY Change 4.55% -8.33% -386.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -600.0K -1.700M 175.0K
Cash From Investing Activities 2.300M 2.200M -2.881M
Cash From Financing Activities 0.000
Net Change In Cash 1.700M 500.0K -2.706M
YoY Change 240.0% -16.67% -9.77%
FREE CASH FLOW
Cash From Operating Activities -$600.0K -$1.700M $175.0K
Capital Expenditures -$200.0K -$500.0K $4.000K
Free Cash Flow -$400.0K -$1.200M $171.0K
YoY Change -66.67% -33.33% -104.26%

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dei Document Type
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SKYLINE CORP
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <i>Accounting Estimates &#x2014;</i> The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Key estimates would include accruals for warranty, workers&#x2019; compensation, marketing programs and health insurance as well as valuations for long-lived assets and deferred tax assets.</p> </div>
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.86
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.13
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
dei Entity Central Index Key
EntityCentralIndexKey
0000090896
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3543000
us-gaap Gross Profit
GrossProfit
9199000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
99271000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
432000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-469000
us-gaap Operating Income Loss
OperatingIncomeLoss
-989000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-6089000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1128000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
9715000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-6089000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-156000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1128000
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-5858000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
163000
us-gaap Net Income Loss
NetIncomeLoss
-7217000
us-gaap Investment Income Interest
InvestmentIncomeInterest
48000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5872000
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
670000
us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
-231000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
us-gaap Interest Expense
InterestExpense
187000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10188000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
90072000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
551000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1207000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2349000
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
6334000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
25000
us-gaap Depreciation
Depreciation
726000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-264000
us-gaap Inventory Write Down
InventoryWriteDown
901000
us-gaap Customer Refundable Fees Refund Payments
CustomerRefundableFeesRefundPayments
3502000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-3068000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-424000
sky Number Of Sale Of Idle Recreational Vehicle Facilities
NumberOfSaleOfIdleRecreationalVehicleFacilities
2 Vehicle
sky Number Of Idle Facilities Sold
NumberOfIdleFacilitiesSold
2 Facility
sky Number Of Undeveloped Land Parcels
NumberOfUndevelopedLandParcels
1 Land
sky Percentage Of Increase In Net Sales
PercentageOfIncreaseInNetSales
0.35 pure
sky Proceeds From Sale Of Assets Of Discontinued Operation
ProceedsFromSaleOfAssetsOfDiscontinuedOperation
2331000
CY2014 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
6334000
CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.18
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
CY2013Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.09
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2013Q4 us-gaap Gross Profit
GrossProfit
3807000
CY2013Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
39208000
CY2013Q4 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
162000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-764000
CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-739000
CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
7055000
CY2013Q4 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-1474000
CY2013Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-739000
CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-1474000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-2213000
CY2013Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
25000
CY2013Q4 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4733000
CY2013Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
35401000
CY2013Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2014Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.42
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
CY2014Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.01
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2014Q4 us-gaap Gross Profit
GrossProfit
5158000
CY2014Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
49667000
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
150000
CY2014Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-3525000
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
81000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
1890000
CY2014Q4 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-3525000
CY2014Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
81000
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-3294000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-3444000
CY2014Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
24000
CY2014Q4 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
-231000
CY2014Q4 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
CY2014Q4 us-gaap Interest Expense
InterestExpense
93000
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5008000
CY2014Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
44509000
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2014Q4 sky Percentage Of Increase In Net Sales
PercentageOfIncreaseInNetSales
0.02 pure

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0001193125-15-010721.txt Edgar Link pending
0001193125-15-010721-xbrl.zip Edgar Link pending
d842766d10q.htm Edgar Link pending
d842766dex311.htm Edgar Link pending
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