$SKY
Champion Homes, Inc.

2018 Q1 Form 10-Q Financial Statement

#000119312518115639 Filed on April 12, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2017 Q2
Revenue $57.98M $57.77M $59.50M
YoY Change 12.27% -10.06% 4.94%
Cost Of Revenue $49.83M $49.39M $52.50M
YoY Change 2.91% -16.28% 5.0%
Gross Profit $43.49M $56.26M $6.900M
YoY Change 1251.1% 975.72% 4.55%
Gross Profit Margin 75.01% 97.39% 11.6%
Selling, General & Admin $6.913M $6.132M $5.800M
YoY Change 23.87% 6.85% 16.0%
% of Gross Profit 15.89% 10.9% 84.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.0K $1.901M $200.0K
YoY Change -33.33% 850.5% -33.33%
% of Gross Profit 0.46% 3.38% 2.9%
Operating Expenses $6.913M $6.132M $5.900M
YoY Change 23.87% 6.85% 18.0%
Operating Profit $1.233M $3.001M $1.000M
YoY Change -152.2% -689.59% -37.5%
Interest Expense $15.00K $37.00K -$100.0K
YoY Change -82.35% -56.98% 0.0%
% of Operating Profit 1.22% 1.23% -10.0%
Other Income/Expense, Net -$7.300M
YoY Change
Pretax Income $1.200M $3.000M $2.300M
YoY Change -149.04% -604.2% 53.33%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0% 0.0%
Net Earnings -$2.264M $5.393M $2.300M
YoY Change -7.48% -1006.39% 76.92%
Net Earnings / Revenue -3.9% 9.34% 3.87%
Basic Earnings Per Share -$0.05 $0.11
Diluted Earnings Per Share -$0.05 $0.11 $258.4K
COMMON SHARES
Basic Shares Outstanding 8.391M shares 44.53M 8.391M shares
Diluted Shares Outstanding 8.627M shares 8.563M shares

Balance Sheet

Concept 2018 Q1 2017 Q4 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.10M $12.30M $11.40M
YoY Change 171.15% 38.2% 48.05%
Cash & Equivalents $113.7M $78.91M $81.01M
Short-Term Investments
Other Short-Term Assets $9.367M $995.0K $563.0K
YoY Change 1107.09% -5.06% 70.09%
Inventory $98.02M $12.93M $12.23M
Prepaid Expenses
Receivables $41.98M $14.80M $12.75M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $263.1M $41.38M $37.30M
YoY Change 648.01% 7.72% 4.14%
LONG-TERM ASSETS
Property, Plant & Equipment $67.96M $10.41M $10.98M
YoY Change 468.75% -12.67% -5.74%
Goodwill $3.179M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.438M $7.242M $7.366M
YoY Change -11.09% -1.95% -1.98%
Total Long-Term Assets $132.3M $17.65M $18.34M
YoY Change 589.39% -8.57% -4.27%
TOTAL ASSETS
Total Short-Term Assets $263.1M $41.38M $37.30M
Total Long-Term Assets $132.3M $17.65M $18.34M
Total Assets $395.4M $59.04M $55.64M
YoY Change 627.32% 2.27% 1.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.77M $4.100M $3.900M
YoY Change 867.71% 2.5% 0.0%
Accrued Expenses $10.50M $10.10M $10.30M
YoY Change -7.08% -19.2% 1.98%
Deferred Revenue
YoY Change
Short-Term Debt $404.0K $0.00 $0.00
YoY Change
Long-Term Debt Due $404.0K
YoY Change
Total Short-Term Liabilities $167.1M $18.71M $18.39M
YoY Change 748.77% -9.3% 1.96%
LONG-TERM LIABILITIES
Long-Term Debt $58.93M $2.700M $4.300M
YoY Change 1270.4% -37.21% 0.0%
Other Long-Term Liabilities $12.77M $7.600M $7.600M
YoY Change 72.51% 2.7% 1.33%
Total Long-Term Liabilities $74.99M $10.32M $11.96M
YoY Change 539.11% -12.27% 1.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $167.1M $18.71M $18.39M
Total Long-Term Liabilities $74.99M $10.32M $11.96M
Total Liabilities $242.1M $29.02M $30.35M
YoY Change 670.48% -10.38% 1.68%
SHAREHOLDERS EQUITY
Retained Earnings $22.51M $90.13M $85.56M
YoY Change -72.96% 5.17% 0.01%
Common Stock $5.703M $5.628M $5.483M
YoY Change 5.05% 4.53% 3.03%
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 $153.3M $30.02M $136.9M
YoY Change
Total Liabilities & Shareholders Equity $395.4M $59.04M $55.64M
YoY Change 627.32% 2.27% 1.21%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2017 Q2
OPERATING ACTIVITIES
Net Income -$2.264M $5.393M $2.300M
YoY Change -7.48% -1006.39% 76.92%
Depreciation, Depletion And Amortization $200.0K $1.901M $200.0K
YoY Change -33.33% 850.5% -33.33%
Cash From Operating Activities $4.900M $400.0K $4.200M
YoY Change -244.12% -42.86% 82.61%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$300.0K -$300.0K
YoY Change 33.33% 50.0% -62.5%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.200M $2.200M
YoY Change -2300.0%
Cash From Investing Activities -$400.0K $900.0K $2.000M
YoY Change 33.33% -550.0% -350.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $4.312M $4.312M
YoY Change
Cash From Financing Activities -2.700M -1.600M
YoY Change
NET CHANGE
Cash From Operating Activities 4.900M 400.0K 4.200M
Cash From Investing Activities -400.0K 900.0K 2.000M
Cash From Financing Activities -2.700M -1.600M
Net Change In Cash 1.800M -300.0K 6.200M
YoY Change -148.65% -160.0% 313.33%
FREE CASH FLOW
Cash From Operating Activities $4.900M $400.0K $4.200M
Capital Expenditures -$400.0K -$300.0K -$300.0K
Free Cash Flow $5.300M $700.0K $4.500M
YoY Change -270.97% -22.22% 45.16%

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1594000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-235000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
813000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
257000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
20000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-429000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
182902 shares
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
1379000
us-gaap Interest Expense
InterestExpense
199000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
437000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4312000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6581000
us-gaap Net Income Loss
NetIncomeLoss
5789000
us-gaap Operating Income Loss
OperatingIncomeLoss
5988000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1170000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
44000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1651000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4690000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4312000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
174205000
us-gaap Share Based Compensation
ShareBasedCompensation
220000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P7Y6M0D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y11M8D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y0M29D
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
19157000
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
2.35
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
54800 shares
dei Trading Symbol
TradingSymbol
SKY
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8574146 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
sky Loss Contingency Obligation During Period
LossContingencyObligationDuringPeriod
0
sky Cancellation Of Life Insurance Policies
CancellationOfLifeInsurancePolicies
2546000
CY2017Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
39000
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
175484 shares
CY2017Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
48421000
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
CY2017Q1 us-gaap Gross Profit
GrossProfit
3219000
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017Q1 us-gaap Interest Expense
InterestExpense
85000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-2447000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2362000
CY2017Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
51640000
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5581000
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
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8391244 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8391244 shares
CY2017Q4 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
762000
CY2017Q4 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1231000
CY2017Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4312000
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
53000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4234 shares
CY2018Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
49832000
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2018Q1 us-gaap Gross Profit
GrossProfit
8146000
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
236088 shares
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018Q1 us-gaap Interest Expense
InterestExpense
15000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
1218000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1233000
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4312000
CY2018Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
57978000
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6913000
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8627332 shares
CY2018Q1 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
CY2017Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
36000 shares
CY2017Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
221000

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0001193125-18-115639.txt Edgar Link pending
0001193125-18-115639-xbrl.zip Edgar Link pending
d554575d10q.htm Edgar Link pending
d554575dex311.htm Edgar Link pending
d554575dex312.htm Edgar Link pending
d554575dex32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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sky-20180304.xml Edgar Link completed
sky-20180304.xsd Edgar Link pending
sky-20180304_cal.xml Edgar Link unprocessable
sky-20180304_def.xml Edgar Link unprocessable
sky-20180304_lab.xml Edgar Link unprocessable
sky-20180304_pre.xml Edgar Link unprocessable