$SKY
Champion Homes, Inc.

2016 Q4 Form 10-Q Financial Statement

#000119312517008891 Filed on January 12, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4
Revenue $64.23M $58.68M
YoY Change 9.44% 18.15%
Cost Of Revenue $59.00M $51.46M
YoY Change 14.65% 15.61%
Gross Profit $5.230M $7.227M
YoY Change -27.63% 40.11%
Gross Profit Margin 8.14% 12.32%
Selling, General & Admin $5.739M $5.400M
YoY Change 6.28% 7.83%
% of Gross Profit 109.73% 74.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K
YoY Change 0.0% -33.33%
% of Gross Profit 3.82% 2.77%
Operating Expenses $5.739M $5.400M
YoY Change 6.28% 7.83%
Operating Profit -$509.0K $1.827M
YoY Change -127.86% 1118.0%
Interest Expense $86.00K $79.00K
YoY Change 8.86% -15.05%
% of Operating Profit 4.32%
Other Income/Expense, Net
YoY Change
Pretax Income -$595.0K $1.748M
YoY Change -134.04% 2058.02%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$595.0K $1.706M
YoY Change -134.88% -149.54%
Net Earnings / Revenue -0.93% 2.91%
Basic Earnings Per Share -$0.07 $0.20
Diluted Earnings Per Share -$0.07 $0.20
COMMON SHARES
Basic Shares Outstanding 8.391M shares 8.391M shares
Diluted Shares Outstanding 8.391M shares 8.391M shares

Balance Sheet

Concept 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.900M $6.800M
YoY Change 30.88% 41.67%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $1.048M $1.370M
YoY Change -23.5% 40.66%
Inventory $11.96M $10.76M
Prepaid Expenses
Receivables $15.82M $14.31M
Other Receivables $0.00 $0.00
Total Short-Term Assets $38.42M $34.03M
YoY Change 12.88% 2.81%
LONG-TERM ASSETS
Property, Plant & Equipment $11.92M $11.30M
YoY Change 5.54% -16.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.386M $7.319M
YoY Change 0.92% 6.77%
Total Long-Term Assets $19.31M $18.62M
YoY Change 3.72% -15.25%
TOTAL ASSETS
Total Short-Term Assets $38.42M $34.03M
Total Long-Term Assets $19.31M $18.62M
Total Assets $57.73M $52.65M
YoY Change 9.65% -4.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.000M $3.100M
YoY Change 29.03% 55.0%
Accrued Expenses $12.50M $11.00M
YoY Change 13.64% 8.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.63M $16.56M
YoY Change 24.57% 11.01%
LONG-TERM LIABILITIES
Long-Term Debt $4.300M $4.300M
YoY Change 0.0% -31.75%
Other Long-Term Liabilities $7.400M $7.500M
YoY Change -1.33% 4.17%
Total Long-Term Liabilities $11.76M $11.81M
YoY Change -0.46% -13.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.63M $16.56M
Total Long-Term Liabilities $11.76M $11.81M
Total Liabilities $32.38M $28.37M
YoY Change 14.15% -0.45%
SHAREHOLDERS EQUITY
Retained Earnings $85.70M $84.75M
YoY Change 1.13% -2.67%
Common Stock $5.384M $5.275M
YoY Change 2.07% 0.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $65.74M $65.74M
YoY Change 0.0% 0.0%
Treasury Stock Shares 2.826M shares 2.826M shares
Shareholders Equity $25.34M $24.28M
YoY Change
Total Liabilities & Shareholders Equity $57.73M $52.65M
YoY Change 9.65% -4.39%

Cashflow Statement

Concept 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income -$595.0K $1.706M
YoY Change -134.88% -149.54%
Depreciation, Depletion And Amortization $200.0K $200.0K
YoY Change 0.0% -33.33%
Cash From Operating Activities $700.0K $300.0K
YoY Change 133.33% -150.0%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$100.0K
YoY Change 100.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$200.0K -$200.0K
YoY Change 0.0% -108.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities 700.0K 300.0K
Cash From Investing Activities -200.0K -200.0K
Cash From Financing Activities
Net Change In Cash 500.0K 100.0K
YoY Change 400.0% -94.12%
FREE CASH FLOW
Cash From Operating Activities $700.0K $300.0K
Capital Expenditures -$200.0K -$100.0K
Free Cash Flow $900.0K $400.0K
YoY Change 125.0% -200.0%

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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
149000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
604000
sky Loss Contingency Obligation During Period
LossContingencyObligationDuringPeriod
0
CY2016Q4 sky Line Of Credit Facility Covenant Expected Net Income Loss
LineOfCreditFacilityCovenantExpectedNetIncomeLoss
250000
CY2015Q4 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-42000
CY2015Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
119225 shares
CY2015Q4 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.20
CY2015Q4 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-42000
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2015Q4 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
45000
CY2015Q4 us-gaap Gross Profit
GrossProfit
7227000
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
-0.01
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
1706000
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1748000
CY2015Q4 us-gaap Interest Expense
InterestExpense
79000
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-42000
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1827000
CY2015Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.21
CY2015Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
51457000
CY2015Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
58684000
CY2016Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
139532 shares
CY2016Q4 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod
0
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8391244 shares
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5400000
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2015Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1748000
CY2015Q4 sky Loss Contingency Obligation During Period
LossContingencyObligationDuringPeriod
0
CY2016Q4 us-gaap Gross Profit
GrossProfit
5230000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-595000
CY2016Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-595000
CY2016Q4 us-gaap Interest Expense
InterestExpense
86000
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-509000
CY2016Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.07
CY2016Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
58996000
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
64226000
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8391244 shares
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5739000
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2016Q4 us-gaap Share Based Compensation
ShareBasedCompensation
31000
CY2016Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-595000
CY2016Q4 sky Loss Contingency Obligation During Period
LossContingencyObligationDuringPeriod
0

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