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Skyline Corporation (NYSE: SKY) Snapshot

Updated April 5, 2010

 

 

Company Profile

 

Skyline Corporation is a producer of manufactured homes and recreational vehicles. Skyline Corporation manufactures towable recreational vehicles under the Nomad, Aljo, Layton, Seaview, Forest Brook, Weekender, Rampage, Trailrider and Freestyle brand names.

 

Consolidated Charting

 

Consolidated Statements
  Quarter Ending    
SKY Income Statement Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10    
  Aug-06 Nov-06 Feb-07 May-07 Aug-07 Nov-07 Feb-08 May-08 Aug-08 Nov-08 Feb-09 May-09 Aug-09 Nov-09   ttm
Revenue  ssssss
 115,806
   94,786    66,345    88,536    96,394    77,198    57,314    70,859    62,597    47,210    24,386    32,483    35,874    34,246    126,989
Cost of Goods Sold ssssss
 102,750
   84,477    62,004    78,283    86,075    71,375    57,020    64,486    60,394    46,381    27,768    31,079    35,597    33,180    127,624
Gross Margin    13,056    10,309      4,341    10,253    10,319      5,823        294      6,373      2,203        829    (3,382)      1,404        277      1,066         (635)
As a % of Sales 11.3% 10.9% 6.5% 11.6% 10.7% 7.5% 0.5% 9.0% 3.5% 1.8% -13.9% 4.3% 0.8% 3.1%   -0.5%
                                 
Operating Expenses                                
R&D            -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
SG&A ssssss
   11,470
   10,779      9,315      8,808    10,603      9,747      9,123      7,297      9,064      8,165      7,726      5,780      6,426      7,609      27,541
Non Recurring             -            -            -            -            -            -            -            -            -            -    (3,776)            -            -            -      (3,776)
Others  ssssssssss
           -
           -            -            -            -            -            -            -            -            -            -            -            -            -              -
Operating Expenses     11,470    10,779      9,315      8,808    10,603      9,747      9,123      7,297      9,064      8,165      3,950      5,780      6,426      7,609      23,765
As a % of Sales 9.9% 11.4% 14.0% 9.9% 11.0% 12.6% 15.9% 10.3% 14.5% 17.3% 16.2% 17.8% 17.9% 22.2%   18.7%
  ss                              
Operating Income      1,586       (470)    (4,974)      1,445       (284)    (3,924)    (8,829)       (924)    (6,861)    (7,336)    (7,332)    (4,376)    (6,149)    (6,543)     (24,400)
As a % of Sales 1.4% -0.5% -7.5% 1.6% -0.3% -5.1% -15.4% -1.3% -11.0% -15.5% -30.1% -13.5% -17.1% -19.1%   -19.2%
                                 
Income from Continuing Operations                                
Total Other Income/Expenses Net  ssssss
     1,460
     1,476      1,455      1,421      1,383      1,158      1,683        599        390        710       (233)          44          36        421          268
Earnings Before Interest And Taxes       3,046      1,006    (3,519)      2,866      1,099    (2,766)    (7,146)       (325)    (6,471)    (6,626)    (7,565)    (4,332)    (6,113)    (6,122)     (24,132)
Interest Expense             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Income Before Tax       3,046      1,006    (3,519)      2,866      1,099    (2,766)    (7,146)       (325)    (6,471)    (6,626)    (7,565)    (4,332)    (6,113)    (6,122)     (24,132)
Income Tax Expense  ssssss
     1,150
       381    (1,344)        619        390       (880)    (2,576)       (516)    (2,325)    (2,528)    (2,740)    (1,967)    (2,206)    (2,314)      (9,227)
Minority Interest             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Net Income From Continuing Ops       1,896        625    (2,175)      2,247        709    (1,886)    (4,570)        191    (4,146)    (4,098)    (4,825)    (2,365)    (3,907)    (3,808)     (14,905)
  sss                              
Non-recurring Events                                
Discontinued Operations             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Extraordinary Items             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Effect Of Accounting Changes             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Other Items             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Net Income       1,896        625    (2,175)      2,247        709    (1,886)    (4,570)        191    (4,146)    (4,098)    (4,825)    (2,365)    (3,907)    (3,808)     (14,905)
Preferred Stock And Other Adjustments             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Net Income Applicable To Common Shares       1,896        625    (2,175)      2,247        709    (1,886)    (4,570)        191    (4,146)    (4,098)    (4,825)    (2,365)    (3,907)    (3,808)     (14,905)
As a % of Sales 1.6% 0.7% -3.3% 2.5% 0.7% -2.4% -8.0% 0.3% -6.6% -8.7% -19.8% -7.3% -10.9% -11.1%   -11.7%
                                 
EBITDA sssssssss
     3,785
     1,745    (3,509)      3,697      1,852    (2,015)    (6,296)        502    (5,766)    (5,971)    (6,854)    (3,699)    (5,579)    (5,583)     (21,715)
As a % of Sales 3.3% 1.8% -5.3% 4.2% 1.9% -2.6% -11.0% 0.7% -9.2% -12.6% -28.1% -11.4% -15.6% -16.3%   -17.1%
                                 
SKY Balance Sheet Quarter Ending    
  Aug-06 Nov-06 Feb-07 May-07 Aug-07 Nov-07 Feb-08 May-08 Aug-08 Nov-08 Feb-09 May-09 Aug-09 Nov-09    ttm 
Current Assets                                
Cash And Cash Equivalents  sssss
   13,918
   10,902      6,889      8,376      8,051      8,314      8,234    10,557    10,077      6,564      8,316      9,836      9,094      7,540        7,540
Short Term Investments  sssss
 117,669
 123,756  118,680  115,864  113,325  115,740  107,993  101,022    96,050    96,845    90,950    84,950    79,987    74,997      74,997
Net Receivables  sssss
   26,252
   18,938    21,418    22,760    24,252    13,995    16,929    18,244    15,700      8,351      5,415      6,443      5,887      5,907        5,907
Inventory  sssss
   12,723
   11,966    12,076    10,561    10,618    10,978    10,642    10,150      9,683      9,800      8,254      6,502      6,306      6,131        6,131
Other Current Assets  sssss
   10,410
   10,281    11,412    11,381    11,240    11,783    13,970    14,234    16,509    18,454    20,327    12,028    13,840    18,849      18,849
Total Current Assets   180,972  175,843  170,475  168,942  167,486  160,810  157,768  154,207  148,019  140,014  133,262  119,759  115,114  113,424    113,424
                                 
Long Term Assets                                
Long Term Investments            -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Property Plant and Equipment  sssss
   34,974
   35,234    35,643    35,806    35,686    35,508    32,876    32,535    32,041    31,862    30,855    30,598    30,220    29,918      29,918
Goodwill             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Intangible Assets             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Accumulated Amortization             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Other Long Term Assets  sssss
   10,013
   10,268    10,353    10,192    10,280    10,365    10,491    10,257    10,313    10,466    10,835      5,911      5,459      5,484        5,484
Deferred Long Term Asset Charges            -            -            -            -            -            -            -            -            -            -            -    11,851    12,171      9,322        9,322
Total Long Term Assets    44,987    45,502    45,996    45,998    45,966    45,873    43,367    42,792    42,354    42,328    41,690    48,360    47,850    44,724      44,724
                                 
Total Assets   225,959  221,345  216,471  214,940  213,452  206,683  201,135  196,999  190,373  182,342  174,952  168,119  162,964  158,148    158,148
                                 
Current Liabilities                                
Accounts Payable  sssss
     6,016
     3,494      3,917    27,114    26,449    23,113    23,868    21,613    20,889    18,475    17,422    15,385    15,649    15,562      15,562
Short/Long Term Debt            -            -            -            -              -            -            -            -            -            -            -            -            -              -
Other Current Liabilities  sss
   28,106
   26,678    25,199            -                  -            -            -            -            -            -            -              -
Total Current Liabilities     34,122    30,172    29,116    27,114    26,449    23,113    23,868    21,613    20,889    18,475    17,422    15,385    15,649    15,562      15,562
                                 
Long Term Liabilities                                
Long Term Debt             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Other Long Term Liabilities sss
           -
           -            -      3,300            -            -            -            -            -            -            -            -            -            -              -
Deferred Long Term Liability Charges     10,481    10,702    10,549      6,711      9,989      9,952      9,730      9,168      8,923      8,914      8,912      7,992      7,991      8,580        8,580
Minority Interest            -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Negative Goodwill             -            -            -            -            -            -            -            -            -            -            -            -            -            -              -
Total Long Term Liabilities    10,481    10,702    10,549    10,011      9,989      9,952      9,730      9,168      8,923      8,914      8,912      7,992      7,991      8,580        8,580