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Posts Tagged ‘fri’

Patrick Industries Acquires a Duet

September 9th, 2013 Comments off

Elkhart, Indiana-based Patrick Industries (NASDAQ:PATK) announces the acquisition of Frontline, Mfg., Inc. and Premier Concepts, Inc., two related companies, both of nearby Warsaw, IN for $8 million. Frontline manufactures bath fixtures for the manufactured housing and recreational vehicle markets, and has projected revenues for this year of $15 million. Premier specializes in custom countertops for the RV and residential housing industries, and projects sales this year of $10 million. According to insideindianabusiness.com, the purchase was funded through a line of credit. Both companies will continue to operate in their current facilities. MHProNews knows Patrick is a supplier of a variety of components to the MH and RV markets. On the big board Fri., Sept. 6 the stock closed down -$1.86 at $26.93.

(Image credit: Patrick Industries, Inc.)

Cavco to Release Financials

July 26th, 2013 Comments off

Cavco Industries, Inc., will release financials for Q1 of fiscal year 2014 after the close of the market Thurs., Aug 1. 2013. The following day senior management will discuss the results in a live webcast Fri., Aug 2 at 12 noon Eastern time. Interested parties will be able to listen to the webcast at http://www.cavco.com under the investor relations link. The call will be archived for 90 days under the same link for 90 days following the webcast, according to globenewswire. MHProNews knows Cavco is one of the largest producers of manufactured homes in the country sold under the Cavco, Fleetwood Homes and Palm Harbor Homes brand names. The company also manufactures park model homes, vacation cabins and modular homes, and provides mortgages and insurance to owners of factory-built homes.

(Photo credit: Stacey Hairston/franklinnews-post–Cavco plant, Rocky Mt. Vir.))

Twelfth Graders get Hands-on Experience

June 6th, 2013 Comments off

MHProNews has learned from buffalonews students at Erie 1 BOCES’ Harkness Career and Technical Center in Cheektowaga, just east of Buffalo, NY, have completed a 1,200 square foot modular home that will be auctioned off Fri., June 7. “If you see this house, you would be surprised that twenty 17-year-old boys built it,” said Chris Burgio, the building trades teacher at Harkness. A second modular home, 1,300 square feet, is being completed at BOCES’ Potter Career and Technical Center in West Seneca and will also go on the auction block. Both homes have three bedrooms and two baths. A $30,000 grant in 1998 from the Margaret L. Wendt Foundation kicked off the program leading to the subsequent building of 17 homes total between the two programs. Built by seniors, the modular houses have sold from $32,000 to $59,000 with the proceeds returning to the schools for next years’ projects.

(Photo credit: Oliver Jenkins/fosterdemocrat–Somersworth, NH student-built modular home)

Tunica Show Registrations Roar ahead for Sale Event in 2013

February 26th, 2013 Comments off

If you wanted to exhibit at the Tunica Manufactured Housing Show the end of March, it’s too late, says Dennis Hill of Showways. The 80+ manufacturer displays and 101 service and supplier booths have been taken, and registration to attend is already up 135 attendees over the same time in 2012—and the show is still a month away. Billed as the largest manufactured home show, a promotional piece that went to MH industry-wide businesses documents the seminars as well as outside entertainment venues, including a bus trip to famed Beale St. in nearby Memphis, and a Bloody Mary Mixer morning to begin Thurs. A special presentation will be delivered by a wounded war veteran from Homes for Our Troops, a non-profit that gathers dollar and material donations to provide housing for veterans with serious disabilities. The Tunica Show runs Wed. March 27–Fri. March 29, and is sponsored by numerous big hitters in the industry. Please click here for more information.

(Image credit: ShowWays)

Maine Prepares for MH Show

January 30th, 2013 Comments off

As kjonline tells MHProNews, workers are putting the finishing touches on the Augusta Civic Center in preparation for the 25th Annual Maine Manufactured Housing Show. There are eight houses inside the center and one outside for the show that runs this weekend, Feb. 1-Feb 3, Fri. thru Sun., in Augusta Maine.

(Photo credit: MHVillage)

Cavco Releasing Financials

January 29th, 2013 Comments off

TradingCharts reports Cavco Industries, Inc. will release its earnings report for Q3 of fiscal year 2013 Thurs. Jan. 31 after the market closes. Senior officials will discuss the results in a live webcast Fri. Feb. 1 at 11:00 AM eastern time. Listen via Internet: http://www.cavco.com under the Investor Relations link. As MHProNews knows, Cavco, the second largest producer of manufactured homes in North America, also manufactures park model homes, cabins, commercial structures, and modular homes.

(Photo credit: Cavco Industries, Inc.)

Islanders not Interested in Connecticut, says Official

November 26th, 2012 Comments off

As we reported here Fri. Nov. 23, the Stephen Siller Tunnel to Tower Foundation is purchasing up to 30 modular homes to be sited on land owned by Faith Church in New Milford, Connecticut to house refugees of Hurricane Sandy from Staten Island (SI) because of the foundation’s ties to SI. StatenIslandLive reports Federal Emergency Management Agency (FEMA) spokesman John Knowles says 18,234 Islanders have asked for some form of aide, and as of late Friday 5,050 residents have been approved for rental assistance. While exact numbers of those living with relatives or having sought help on their own is unknown, SI Borough President James Molinaro, commenting on the Siller foundation offer, says, “No Staten Island is going up there, trust me.” As MHProNews has learned, officials do not want FEMA-style trailers. Molinaro says, “I don’t need colonies of people who are never going to move out. And that is what you will have, colonies of trailers.”

(Photo credit: StatenIslandLive)

Cavco Releases Financial Results

November 2nd, 2012 Comments off

In its report of fiscal 2013 second quarter financial results, Phoenix-based Cavco Industries , Inc. (Nasdaq: CVCO), reports net sales fell 15.3 percent, to $110,084,000 from the comparable period of 2012 when sales hit $130,008,000. GlobeNewsWire says net income for Q2 2013 dropped to $2,681,000 from $3,172,000 for the same period in the previous fiscal year. Net sales for the first six months of fiscal 2013 totaled $228,865,000 as compared to $228,989,000 for the first six months in the previous year. Net income for the first six months of fiscal 2012 fell from $11,907,000 to $2,114,000 for the comparable period of fiscal 2013. Joeph Stegmayer, president, chairman and CEO of Cavco attributes the drop in earnings for Q2 2013 to fewer overall homes sold, lower average sales prices from lower price-point homes, and increased competition. While revenues declined, gross margins improved comparing Q2 2013 to the same fiscal period of 2012. He says, “To counteract these challenges, we have continued to expand our sales in niche market areas including, among others: workforce housing, homes for rental use in planned communities, multi-family developments, and camping cabins. The Company’s acquisitions in recent years have helped successfully expand our competencies on numerous homebuilding platforms.” As MHProNews has learned, Cavco is the second largest producer of manufactured housing in the U.S. A conference call will be held Fri., Nov. 2 at 12:00 eastern time to discuss these results. For access, go to www.cavco.com and click on the Investor Relations link. Cavco closed up +3.70% at $50. Nov. 1.

Cavco to Release Financials

October 29th, 2012 Comments off

GlobeNewsWire tells MHProNews Cavco Industries, Inc. (Nasdaq:CVCO) will release its earnings report for the second quarter of fiscal 2013 Thurs., Nov. 1, 2012 after the close of the market. A live webcast conducted by senior management officials to discuss the results will follow the next day, Fri., Nov 2, at 12:00 noon eastern time. Interested parties may listen via the internet at http://www.cavco.com under the Investor Relations link. The call will be archived for 90 days at that same site. Headquartered in Phoenix, Arizona, Cavco is the second largest producer of manufactured housing in the U.S.

(Image credit: Cavco Industries, Inc.)

UFPI Releases Q3 Financials

October 17th, 2012 Comments off

Universal Forest Products, Inc. (UFPI) reported an increase of 13.7 percent net sales Q3 2012 over Q3 2011, $533.4 million over $486.9 million. Due to a $2 million one time, pretax charge for a loss contingency, net earnings were $4.2 million in 2012 versus $5.6 million in the same period 2011. According to 4-traders, the company saw double-digit sales growth in four of five markets, boosted in part by higher lumber prices. In its recreational vehicle and manufactured housing sector, gross sales rose to $89 million on the quarter, a 35.5 percent increase over the same quarter last year. The report notes manufactured housing shipments increased 14.6 percent in July and 7.8 percent in Aug. 2012. As MHProNews has learned, UFPI, based in Grand Rapids, Mich., held a conference call this morning to discuss the financial results. A replay of the call will be available thru Fri., Nov. 16, 2012 at (888) 286 8010 domestically, using replay pass code 14438073. In today’s trading, UFPI closed up +0.11% at 41.91.

(Photo credit: UFPI)