$SKY
Champion Homes, Inc.

2015 Q3 Form 10-Q Financial Statement

#000119312515344789 Filed on October 15, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3 2014 Q2
Revenue $48.74M $49.60M $46.04M
YoY Change -1.74% 31.7% -5.72%
Cost Of Revenue $44.10M $45.56M $43.20M
YoY Change -3.21% 2.01% -0.92%
Gross Profit $4.643M $4.041M $2.880M
YoY Change 14.9% 12.16% -45.24%
Gross Profit Margin 9.53% 8.15% 6.26%
Selling, General & Admin $5.459M $5.180M $4.800M
YoY Change 5.39% -9.65% -12.73%
% of Gross Profit 117.57% 128.19% 166.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $257.0K $394.0K $400.0K
YoY Change -34.77% -19.59% -20.0%
% of Gross Profit 5.54% 9.75% 13.89%
Operating Expenses $5.459M $5.180M $4.700M
YoY Change 5.39% -9.65% -12.96%
Operating Profit -$816.0K -$1.139M -$1.820M
YoY Change -28.36% -18.87% 1190.78%
Interest Expense $79.00K $94.00K $0.00
YoY Change -15.96%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$895.0K -$1.209M -$1.700M
YoY Change -25.97% -12.33%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$834.0K -$3.773M -$2.560M
YoY Change -77.9% 173.6% -5788.89%
Net Earnings / Revenue -1.71% -7.61% -5.56%
Basic Earnings Per Share -$0.10 -$0.45 -$0.30
Diluted Earnings Per Share -$0.10 -$452.4K -$309.5K
COMMON SHARES
Basic Shares Outstanding 8.391M shares 8.391M shares 8.391M shares
Diluted Shares Outstanding 8.391M shares

Balance Sheet

Concept 2015 Q3 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.700M $3.000M $6.000M
YoY Change 123.33% -81.37% -62.03%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $1.540M $897.0K $542.0K
YoY Change 71.68% 93.32% 54.42%
Inventory $10.50M $12.95M $8.627M
Prepaid Expenses
Receivables $12.06M $17.17M $16.26M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $31.93M $36.75M $41.67M
YoY Change -13.14% -13.89% 0.08%
LONG-TERM ASSETS
Property, Plant & Equipment $11.39M $15.58M $14.04M
YoY Change -26.89% -12.33% -23.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.299M $6.560M $6.550M
YoY Change 11.27% 3.7% 3.69%
Total Long-Term Assets $18.69M $23.71M $24.08M
YoY Change -21.17% -7.81% -8.39%
TOTAL ASSETS
Total Short-Term Assets $31.93M $36.75M $41.67M
Total Long-Term Assets $18.69M $23.71M $24.08M
Total Assets $50.62M $60.46M $65.75M
YoY Change -16.28% -11.61% -3.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.600M $3.900M $3.100M
YoY Change -7.69% 5.41% -16.22%
Accrued Expenses $10.10M $10.00M $8.500M
YoY Change 1.0% 4.17% 2.41%
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 $16.21M $16.79M $18.25M
YoY Change -3.5% 3.3% 28.44%
LONG-TERM LIABILITIES
Long-Term Debt $4.300M $6.300M $6.300M
YoY Change -31.75%
Other Long-Term Liabilities $7.600M $7.300M $7.400M
YoY Change 4.11% -7.59% -8.64%
Total Long-Term Liabilities $11.87M $13.66M $13.72M
YoY Change -13.06% 73.46% 70.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.21M $16.79M $18.25M
Total Long-Term Liabilities $11.87M $13.66M $13.72M
Total Liabilities $28.08M $30.45M $13.72M
YoY Change -7.79% 26.19% 70.03%
SHAREHOLDERS EQUITY
Retained Earnings $83.04M $90.52M $94.29M
YoY Change -8.26% -13.61% -11.18%
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 $22.54M $30.01M $33.79M
YoY Change
Total Liabilities & Shareholders Equity $50.62M $60.46M $65.75M
YoY Change -16.28% -11.61% -3.2%

Cashflow Statement

Concept 2015 Q3 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$834.0K -$3.773M -$2.560M
YoY Change -77.9% 173.6% -5788.89%
Depreciation, Depletion And Amortization $257.0K $394.0K $400.0K
YoY Change -34.77% -19.59% -20.0%
Cash From Operating Activities $1.755M -$3.019M -$8.500M
YoY Change -158.13% -1825.14% 4150.0%
INVESTING ACTIVITIES
Capital Expenditures $70.00K $26.00K -$200.0K
YoY Change 169.23% 550.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $8.000K $4.000K $3.000M
YoY Change 100.0% -103.57% 25.0%
Cash From Investing Activities -$78.00K -$17.00K $2.900M
YoY Change 358.82% -99.41% 16.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.300M
YoY Change
NET CHANGE
Cash From Operating Activities 1.755M -3.019M -8.500M
Cash From Investing Activities -78.00K -17.00K 2.900M
Cash From Financing Activities 6.300M
Net Change In Cash 1.677M -3.036M 700.0K
YoY Change -155.24% 12.2% -69.57%
FREE CASH FLOW
Cash From Operating Activities $1.755M -$3.019M -$8.500M
Capital Expenditures $70.00K $26.00K -$200.0K
Free Cash Flow $1.685M -$3.045M -$8.300M
YoY Change -155.34% -1880.7% 8200.0%

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CY2015Q3 us-gaap Operating Income Loss
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-816000
CY2015Q3 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1429000
CY2015Q3 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1093000
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
61000
CY2015Q3 us-gaap Gross Profit
GrossProfit
4643000
CY2015Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3137000
CY2015Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
61000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-895000
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
48742000
CY2015Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8000
CY2015Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-895000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
44099000
CY2015Q3 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
717000
CY2015Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1677000
CY2015Q3 us-gaap Interest Expense
InterestExpense
79000
CY2015Q3 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
464000
CY2015Q3 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-107000
CY2015Q3 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
624000
CY2015Q3 us-gaap Customer Refundable Fees Refund Payments
CustomerRefundableFeesRefundPayments
1574000
CY2015Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
19000
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5459000
CY2015Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-78000
CY2015Q3 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
CY2015Q3 us-gaap Depreciation
Depreciation
257000
CY2015Q3 sky Loss Contingency Obligation Number Of Units Repurchased During Period
LossContingencyObligationNumberOfUnitsRepurchasedDuringPeriod
0 Unit
CY2015Q3 sky Line Of Credit Facility Covenant Loss Maximum Amount
LineOfCreditFacilityCovenantLossMaximumAmount
1000000
CY2015Q3 sky Line Of Credit Facility Covenant Expected Net Income Loss
LineOfCreditFacilityCovenantExpectedNetIncomeLoss
500000

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