$SKY
Champion Homes, Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515119055 Filed on April 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q4
Revenue $49.61M $38.11M $49.67M
YoY Change 7.74% 26.32% 26.68%
Cost Of Revenue $44.00M $35.77M $44.51M
YoY Change 1.85% 21.71% 25.73%
Gross Profit $5.557M $2.338M $5.158M
YoY Change 92.95% 200.13% 35.49%
Gross Profit Margin 11.2% 6.14% 10.39%
Selling, General & Admin $5.800M $5.159M $5.008M
YoY Change 20.83% 2.97% 5.81%
% of Gross Profit 104.37% 220.66% 97.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $300.0K $300.0K $300.0K
YoY Change -25.0% -25.0% -25.0%
% of Gross Profit 5.4% 12.83% 5.82%
Operating Expenses $5.900M $5.159M $5.008M
YoY Change 25.53% 2.97% 5.81%
Operating Profit -$343.0K -$2.821M $150.0K
YoY Change -81.15% -28.24% -119.63%
Interest Expense -$100.0K $92.00K $93.00K
YoY Change
% of Operating Profit 62.0%
Other Income/Expense, Net
YoY Change
Pretax Income -$100.0K -$2.911M $81.00K
YoY Change -94.12% -25.47% -110.96%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$200.0K -$2.997M -$3.444M
YoY Change -92.19% -47.53% 55.63%
Net Earnings / Revenue -0.4% -7.86% -6.93%
Basic Earnings Per Share -$0.02 -$0.36 -$0.41
Diluted Earnings Per Share -$23.81K -$357.1K -$404.8K
COMMON SHARES
Basic Shares Outstanding 8.391M shares 8.391M shares 8.391M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.000M $4.900M $4.800M
YoY Change -16.67% -32.88% -67.12%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $447.0K $753.0K $974.0K
YoY Change -17.53% 96.61% 54.11%
Inventory $9.119M $9.307M $9.155M
Prepaid Expenses
Receivables $15.29M $13.09M $13.59M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $31.58M $30.71M $33.10M
YoY Change -24.21% -16.39% -18.46%
LONG-TERM ASSETS
Property, Plant & Equipment $11.57M $13.26M $13.56M
YoY Change -17.61% -22.05% -22.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.289M $6.892M $6.855M
YoY Change 11.28% 7.89% 8.0%
Total Long-Term Assets $18.86M $20.16M $21.97M
YoY Change -21.7% -19.37% -13.48%
TOTAL ASSETS
Total Short-Term Assets $31.58M $30.71M $33.10M
Total Long-Term Assets $18.86M $20.16M $21.97M
Total Assets $50.44M $50.87M $55.07M
YoY Change -23.29% -17.6% -16.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.000M $1.600M $2.000M
YoY Change -3.23% -57.89% -4.76%
Accrued Expenses $9.400M $8.900M $10.10M
YoY Change 10.59% -11.0% -8.18%
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 $15.12M $13.79M $14.92M
YoY Change -17.15% -22.21% -7.83%
LONG-TERM LIABILITIES
Long-Term Debt $4.300M $6.300M $6.300M
YoY Change -31.75%
Other Long-Term Liabilities $7.600M $7.200M $7.200M
YoY Change 2.7% -6.49% -6.49%
Total Long-Term Liabilities $11.95M $13.51M $13.58M
YoY Change -12.91% 76.35% 75.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.12M $13.79M $14.92M
Total Long-Term Liabilities $11.95M $13.51M $13.58M
Total Liabilities $27.07M $27.29M $28.50M
YoY Change 97.27% 7.52% 19.12%
SHAREHOLDERS EQUITY
Retained Earnings $83.88M $84.08M $87.07M
YoY Change -11.04% -13.19% -15.1%
Common Stock $5.240M $5.240M $5.240M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $65.74M $65.74M $65.74M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 2.826M shares 2.826M shares 2.826M shares
Shareholders Equity $23.37M $23.57M $26.57M
YoY Change
Total Liabilities & Shareholders Equity $50.44M $50.87M $55.07M
YoY Change -23.29% -17.6% -16.54%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q4
OPERATING ACTIVITIES
Net Income -$200.0K -$2.997M -$3.444M
YoY Change -92.19% -47.53% 55.63%
Depreciation, Depletion And Amortization $300.0K $300.0K $300.0K
YoY Change -25.0% -25.0% -25.0%
Cash From Operating Activities $700.0K -$1.400M -$600.0K
YoY Change -108.24% -81.58% -64.71%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K $0.00 -$200.0K
YoY Change 50.0% -100.0% -60.0%
Acquisitions
YoY Change
Other Investing Activities $1.900M $1.600M $2.500M
YoY Change -36.67% -54.29% -3.85%
Cash From Investing Activities $1.700M $1.600M $2.300M
YoY Change -41.38% -51.52% 4.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.300M
YoY Change -136.51%
NET CHANGE
Cash From Operating Activities 700.0K -1.400M -600.0K
Cash From Investing Activities 1.700M 1.600M 2.300M
Cash From Financing Activities -2.300M
Net Change In Cash 100.0K 200.0K 1.700M
YoY Change -85.71% -104.65% 240.0%
FREE CASH FLOW
Cash From Operating Activities $700.0K -$1.400M -$600.0K
Capital Expenditures -$300.0K $0.00 -$200.0K
Free Cash Flow $1.000M -$1.400M -$400.0K
YoY Change -112.05% -81.33% -66.67%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
8391244 shares
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
102563000
CY2014Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3921000
CY2014Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
2200000
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
96851000
CY2014Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6121000
CY2014Q1 us-gaap Cash
Cash
5275000
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
87074000
CY2015Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11217144 shares
CY2015Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
15000000 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
2825900 shares
CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0277
CY2015Q1 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
100000
CY2015Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3722000
CY2015Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
47019000
CY2015Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
2000000
CY2015Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
338000
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
13788000
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent
157000
CY2015Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
13505000
CY2015Q1 us-gaap Common Stock Value
CommonStockValue
312000
CY2015Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
84077000
CY2015Q1 us-gaap Loans Payable
LoansPayable
6334000
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
117000
CY2015Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
4928000
CY2015Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1594000
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
23573000
CY2015Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2888000
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
50866000
CY2015Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5722000
CY2015Q1 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
3606000
CY2015Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1640000
CY2015Q1 us-gaap Deferred Credits And Other Liabilities Noncurrent
DeferredCreditsAndOtherLiabilitiesNoncurrent
7171000
CY2015Q1 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
5171000
CY2015Q1 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
6511000
CY2015Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
5751000
CY2015Q1 us-gaap Land
Land
3586000
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13263000
CY2015Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
50000000
CY2015Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
39720000
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
298000
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Deferred Tax Assets
DisposalGroupIncludingDiscontinuedOperationDeferredTaxAssets
5000000
CY2015Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
708000
CY2015Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
35000000
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
60282000
CY2015Q1 us-gaap Assets
Assets
50866000
CY2015Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
7000000
CY2015Q1 us-gaap Inventory Net
InventoryNet
9307000
CY2015Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
62000000
CY2015Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13089000
CY2015Q1 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
492000
CY2015Q1 us-gaap Cash
Cash
4933000
CY2015Q1 us-gaap Inventories Property Held For Sale Current
InventoriesPropertyHeldForSaleCurrent
194000
CY2015Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2848000
CY2015Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
16976000
CY2015Q1 us-gaap Other Assets Current
OtherAssetsCurrent
753000
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6892000
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
65744000
CY2015Q1 us-gaap Assets Current
AssetsCurrent
30711000
CY2015Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
8000000
CY2015Q1 sky Number Of Communities To Which Homes Are Sold
NumberOfCommunitiesToWhichHomesAreSold
6 Community
CY2015Q1 sky Deferred Workers Compensation Deposit
DeferredWorkersCompensationDeposit
2137000
CY2015Q1 sky Property Plant And Equipment Including Discontinued Operation Net
PropertyPlantAndEquipmentIncludingDiscontinuedOperationNet
13263000
CY2015Q1 sky Disposal Group Including Discontinued Operation Accrued Marketing Programs Current
DisposalGroupIncludingDiscontinuedOperationAccruedMarketingProgramsCurrent
64000
CY2015Q1 sky Number Of Idle Properties
NumberOfIdleProperties
1 Property
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
106155000
CY2013Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5882000
CY2013Q2 us-gaap Cash
Cash
11838000
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11217144 shares
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
15000000 shares
CY2014Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
2825900 shares
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0277
CY2014Q2 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
100000
CY2014Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3697000
CY2014Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
46036000
CY2014Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
2000000
CY2014Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3024000
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
18247000
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent
186000
CY2014Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
13720000
CY2014Q2 us-gaap Common Stock Value
CommonStockValue
312000
CY2014Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
94291000
CY2014Q2 us-gaap Loans Payable
LoansPayable
6334000
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
2089000
CY2014Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
4928000
CY2014Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
2255000
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
33787000
CY2014Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3695000
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
65754000
CY2014Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5697000
CY2014Q2 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
2526000
CY2014Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
3050000
CY2014Q2 us-gaap Deferred Credits And Other Liabilities Noncurrent
DeferredCreditsAndOtherLiabilitiesNoncurrent
7386000
CY2014Q2 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
5386000
CY2014Q2 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
6452000
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Noncurrent
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent
9812000
CY2014Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
5135000
CY2014Q2 us-gaap Land
Land
3586000
CY2014Q2 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
50000
CY2014Q2 us-gaap Assets
Assets
65754000
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
1911000
CY2014Q2 us-gaap Inventory Net
InventoryNet
8627000
CY2014Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
63000000
CY2014Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
16259000
CY2014Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
318000
CY2014Q2 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
1581000
CY2014Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
60078000
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14042000
CY2014Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
39254000
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
4770000
CY2014Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
7473000
CY2014Q2 us-gaap Cash
Cash
6031000
CY2014Q2 us-gaap Inventories Property Held For Sale Current
InventoriesPropertyHeldForSaleCurrent
2703000
CY2014Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
3174000
CY2014Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
17238000
CY2014Q2 us-gaap Other Assets Current
OtherAssetsCurrent
542000
CY2014Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6550000
CY2014Q2 us-gaap Treasury Stock Value
TreasuryStockValue
65744000
CY2014Q2 us-gaap Assets Current
AssetsCurrent
41670000
CY2014Q2 sky Disposal Group Including Discontinued Operations Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationsAccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7901000
CY2014Q2 sky Deferred Workers Compensation Deposit
DeferredWorkersCompensationDeposit
2688000
CY2014Q2 sky Property Plant And Equipment Including Discontinued Operation Net
PropertyPlantAndEquipmentIncludingDiscontinuedOperationNet
15953000
CY2014Q2 sky Disposal Group Including Discontinued Operation Accrued Salaries And Wages Current
DisposalGroupIncludingDiscontinuedOperationAccruedSalariesAndWagesCurrent
419000
CY2014Q2 sky Disposal Group Including Discontinued Operation Accrued Marketing Programs Current
DisposalGroupIncludingDiscontinuedOperationAccruedMarketingProgramsCurrent
330000
CY2014Q2 sky Number Of Idle Properties
NumberOfIdleProperties
3 Property
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9127000
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.11
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.67
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4106000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
28999000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-600000
us-gaap Gross Profit
GrossProfit
8189000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
107040000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
32000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2502000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
462000
us-gaap Operating Income Loss
OperatingIncomeLoss
-5710000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-1000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-3669000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-5635000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
26989000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-3669000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-221000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-5635000
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-3669000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
649000
us-gaap Net Income Loss
NetIncomeLoss
-9304000
us-gaap Investment Income Interest
InvestmentIncomeInterest
75000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1723000
us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14361000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
98851000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-6563000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2564000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
35000
us-gaap Depreciation
Depreciation
1304000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
958000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3400000
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
30998000
us-gaap Customer Refundable Fees Refund Payments
CustomerRefundableFeesRefundPayments
3867000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
118000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-527000
sky Number Of Housing Facilities With Operating Profit
NumberOfHousingFacilitiesWithOperatingProfit
4 Facility
sky Number Of Housing Facilities
NumberOfHousingFacilities
8 Facility
dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
SKYLINE CORP
dei Trading Symbol
TradingSymbol
SKY
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5014000
us-gaap Use Of Estimates
UseOfEstimates
<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>
dei Document Period End Date
DocumentPeriodEndDate
2015-02-28
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.74
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.22
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.48
dei Entity Central Index Key
EntityCentralIndexKey
0000090896
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Loan advances bear interest at 3.75% in excess of The Wall Street Journal's published one year LIBOR rate
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4932000
us-gaap Gross Profit
GrossProfit
11537000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
137380000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
211000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-928000
us-gaap Operating Income Loss
OperatingIncomeLoss
-3810000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-6175000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4039000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
9767000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-6175000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-132000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-4039000
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-5944000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
178000
us-gaap Net Income Loss
NetIncomeLoss
-10214000
us-gaap Investment Income Interest
InvestmentIncomeInterest
50000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-7642000
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
279000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15347000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
125843000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
551000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1098000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3916000
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
6334000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1631000
us-gaap Depreciation
Depreciation
1034000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1077000
us-gaap Inventory Write Down
InventoryWriteDown
901000
us-gaap Customer Refundable Fees Refund Payments
CustomerRefundableFeesRefundPayments
4907000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-3382000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-516000
sky Number Of Sale Of Idle Recreational Vehicle Facilities
NumberOfSaleOfIdleRecreationalVehicleFacilities
2 Vehicle
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2015Q1 us-gaap Gross Profit
GrossProfit
2338000
sky Percentage Of Increase In Net Sales
PercentageOfIncreaseInNetSales
0.40 pure
sky Proceeds From Sale Of Assets Of Discontinued Operation
ProceedsFromSaleOfAssetsOfDiscontinuedOperation
2331000
sky Number Of Housing Facilities With Operating Profit
NumberOfHousingFacilitiesWithOperatingProfit
7 Facility
sky Number Of Housing Facilities
NumberOfHousingFacilities
8 Facility
CY2014 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
6334000
CY2014 sky Number Of Idle Facilities Sold
NumberOfIdleFacilitiesSold
2 Facility
CY2014 sky Number Of Undeveloped Land Parcels
NumberOfUndevelopedLandParcels
1 Land
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.21
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.68
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.47
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2014Q1 us-gaap Gross Profit
GrossProfit
779000
CY2014Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
30169000
CY2014Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
300000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-3931000
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1806000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3906000
CY2014Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
8603000
CY2014Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-1806000
CY2014Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3906000
CY2014Q1 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-1806000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-5712000
CY2014Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
25000
CY2014Q1 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5010000
CY2014Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
29390000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2014Q1 sky Number Of Housing Facilities With Operating Profit
NumberOfHousingFacilitiesWithOperatingProfit
2 Facility
CY2014Q1 sky Number Of Housing Facilities
NumberOfHousingFacilities
8 Facility
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.35
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
38109000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2821000
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-86000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2911000
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
52000
CY2015Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-86000
CY2015Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-2911000
CY2015Q1 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-86000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-2997000
CY2015Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000
CY2015Q1 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
CY2015Q1 us-gaap Interest Expense
InterestExpense
92000
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5159000
CY2015Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
35771000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q1 sky Percentage Of Decrease In Net Sales
PercentageOfDecreaseInNetSales
0.23 pure
CY2015Q1 sky Percentage Of Increase In Net Sales
PercentageOfIncreaseInNetSales
0.41 pure
CY2015Q1 sky Number Of Housing Facilities With Operating Profit
NumberOfHousingFacilitiesWithOperatingProfit
4 Facility
CY2015Q1 sky Number Of Housing Facilities
NumberOfHousingFacilities
8 Facility

Files In Submission

Name View Source Status
0001193125-15-119055-index-headers.html Edgar Link pending
0001193125-15-119055-index.html Edgar Link pending
0001193125-15-119055.txt Edgar Link pending
0001193125-15-119055-xbrl.zip Edgar Link pending
d897846d10q.htm Edgar Link pending
d897846dex10.htm Edgar Link pending
d897846dex311.htm Edgar Link pending
d897846dex312.htm Edgar Link pending
d897846dex32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
sky-20150228.xml Edgar Link completed
sky-20150228.xsd Edgar Link pending
sky-20150228_cal.xml Edgar Link unprocessable
sky-20150228_def.xml Edgar Link unprocessable
sky-20150228_lab.xml Edgar Link unprocessable
sky-20150228_pre.xml Edgar Link unprocessable