$SKY
Champion Homes, Inc.

2017 Q4 Form 10-Q Financial Statement

#000119312518009075 Filed on January 11, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $57.77M $64.23M
YoY Change -10.06% 9.44%
Cost Of Revenue $49.39M $59.00M
YoY Change -16.28% 14.65%
Gross Profit $56.26M $5.230M
YoY Change 975.72% -27.63%
Gross Profit Margin 97.39% 8.14%
Selling, General & Admin $6.132M $5.739M
YoY Change 6.85% 6.28%
% of Gross Profit 10.9% 109.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.901M $200.0K
YoY Change 850.5% 0.0%
% of Gross Profit 3.38% 3.82%
Operating Expenses $6.132M $5.739M
YoY Change 6.85% 6.28%
Operating Profit $3.001M -$509.0K
YoY Change -689.59% -127.86%
Interest Expense $37.00K $86.00K
YoY Change -56.98% 8.86%
% of Operating Profit 1.23%
Other Income/Expense, Net
YoY Change
Pretax Income $3.000M -$595.0K
YoY Change -604.2% -134.04%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $5.393M -$595.0K
YoY Change -1006.39% -134.88%
Net Earnings / Revenue 9.34% -0.93%
Basic Earnings Per Share $0.11 -$0.07
Diluted Earnings Per Share $0.11 -$0.07
COMMON SHARES
Basic Shares Outstanding 44.53M 8.391M shares
Diluted Shares Outstanding 8.563M shares 8.391M shares

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.30M $8.900M
YoY Change 38.2% 30.88%
Cash & Equivalents $78.91M
Short-Term Investments
Other Short-Term Assets $995.0K $1.048M
YoY Change -5.06% -23.5%
Inventory $12.93M $11.96M
Prepaid Expenses
Receivables $14.80M $15.82M
Other Receivables $0.00 $0.00
Total Short-Term Assets $41.38M $38.42M
YoY Change 7.72% 12.88%
LONG-TERM ASSETS
Property, Plant & Equipment $10.41M $11.92M
YoY Change -12.67% 5.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.242M $7.386M
YoY Change -1.95% 0.92%
Total Long-Term Assets $17.65M $19.31M
YoY Change -8.57% 3.72%
TOTAL ASSETS
Total Short-Term Assets $41.38M $38.42M
Total Long-Term Assets $17.65M $19.31M
Total Assets $59.04M $57.73M
YoY Change 2.27% 9.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.100M $4.000M
YoY Change 2.5% 29.03%
Accrued Expenses $10.10M $12.50M
YoY Change -19.2% 13.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.71M $20.63M
YoY Change -9.3% 24.57%
LONG-TERM LIABILITIES
Long-Term Debt $2.700M $4.300M
YoY Change -37.21% 0.0%
Other Long-Term Liabilities $7.600M $7.400M
YoY Change 2.7% -1.33%
Total Long-Term Liabilities $10.32M $11.76M
YoY Change -12.27% -0.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.71M $20.63M
Total Long-Term Liabilities $10.32M $11.76M
Total Liabilities $29.02M $32.38M
YoY Change -10.38% 14.15%
SHAREHOLDERS EQUITY
Retained Earnings $90.13M $85.70M
YoY Change 5.17% 1.13%
Common Stock $5.628M $5.384M
YoY Change 4.53% 2.07%
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 $30.02M $25.34M
YoY Change
Total Liabilities & Shareholders Equity $59.04M $57.73M
YoY Change 2.27% 9.65%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $5.393M -$595.0K
YoY Change -1006.39% -134.88%
Depreciation, Depletion And Amortization $1.901M $200.0K
YoY Change 850.5% 0.0%
Cash From Operating Activities $400.0K $700.0K
YoY Change -42.86% 133.33%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$200.0K
YoY Change 50.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $1.200M $0.00
YoY Change
Cash From Investing Activities $900.0K -$200.0K
YoY Change -550.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $4.312M
YoY Change
Cash From Financing Activities -1.600M
YoY Change
NET CHANGE
Cash From Operating Activities 400.0K 700.0K
Cash From Investing Activities 900.0K -200.0K
Cash From Financing Activities -1.600M
Net Change In Cash -300.0K 500.0K
YoY Change -160.0% 400.0%
FREE CASH FLOW
Cash From Operating Activities $400.0K $700.0K
Capital Expenditures -$300.0K -$200.0K
Free Cash Flow $700.0K $900.0K
YoY Change -22.22% 125.0%

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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M8D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y7M28D
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12244000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0213 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.86
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.55
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.15
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.659 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
57000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
45000 shares
dei Trading Symbol
TradingSymbol
SKY
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8531191 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
15000 shares
CY2017Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
216000
CY2017Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31000
CY2016Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
139532 shares
CY2016Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
58996000
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2016Q4 us-gaap Gross Profit
GrossProfit
5230000
CY2016Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q4 us-gaap Interest Expense
InterestExpense
86000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-595000
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-509000
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
64226000
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5739000
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8391244 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2017Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
55000
CY2017Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23417 shares
CY2017Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
49394000
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.35
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2017Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2017Q4 us-gaap Gross Profit
GrossProfit
8371000
CY2017Q4 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
762000
CY2017Q4 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
762000
CY2017Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
171655 shares
CY2017Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017Q4 us-gaap Interest Expense
InterestExpense
37000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
2964000
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
3001000
CY2017Q4 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1231000
CY2017Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1605000
CY2017Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
57765000
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6132000
CY2017Q4 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
36000 shares
CY2017Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
221000
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8562899 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2017Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-60000
CY2017Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
420000

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