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Posts Tagged ‘globenewswire’

Habitat Canada and Green Terra ask Homebuyers to Donate 1%

June 15th, 2016 Comments off

Canada_ontario__Green_Terra_Homes__globenewswire__creditFounded n 1985, Habitat for Humanity Canada has forged a partnership with Green Terra Homes that will give home buyers the option to donate one percent of their purchase to Habitat, thereby promoting sustainable building.

Prefab homes and manufactured homes are constructed using steel from an average of six recycled cars, saving an average of 40 trees per home, as globenewswire tells MHProNews.

We’re thrilled to be partnering with an innovative company like Green Terra Homes,” says Mark Rodgers, President and CEO of Habitat for Humanity Canada. “This relationship shows that both Green Terra Homes and Habitat Canada are committed to designing and constructing homes that allow families to be strong, stable and independent.”

In 2015 they worked together to provide Habitat with steel home framing kits. Greenfab makes manufactured and modular homes using steel from about six recycled automobiles, saving approximately 40 trees in the process.

Holly Khani, CEO of Green Terra Homes, said, “We believe that as our customers choose environmentally-friendly housing, they will jump at the chance to help families across the country who are in need of affordable housing.”

With a manufacturing facility in Trenton, Ontario, Green Terra also produces park models, recreational vehicles, as well as steel buildings ans structures, as.

Habitat Canada has over 70,000 volunteers and 56 affiliate organizations. ##

(Image credit:globenewswire/Green Terra Homes-steel modular homes)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

Cavco Industries Releasing Quarterly Numbers May 26

May 25th, 2016 Comments off

cavco-lapsiding-manufactured-homeMHProNews has learned from globenewswire that manufactured and modular home producer Cavco Industries, Inc. will release its financials for the fourth quarter of fiscal year 2016 on Thurs., May 26, 2016, after the close of the market.

On Fri., May 27, 2016, at 1 PM eastern daylight time, senior management will host a live webcast to discuss the results. Listen via Internet: http://www.cavco.com under the Investor Relations link, where the webcast will be archived for 90 days.

Based in Phoenix, AZ, Cavco (Nasdaq:CVCO) is one of the largest producers of manufactured homes in the U. S. They marketed under Cavco Homes, Fleetwood Homes, Palm Harbor Homes Fairmont Homes and Chariot Eagle, and distributed through a network of independent and company-owned retailers.

The company also produces park model RVs, modular homes, cabins and systems-built commercial structures, selling through its financial arm, CountryWide Mortgage, and offering insurance through Standard Casualty. ##

(Image credit: Cavco lap-sided manufactured home)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Cavco’s Net Revenue Jumps Sharply, Gaining 37.8%

October 30th, 2015 Comments off

cavco logoFinancials for the second quarter of 2016 for Cavco Industries, Inc. (NASDAQ:CVCO) ending Sept. 26, 2015 indicate net revenue hit $192 million, an increase of 37.8 percent over the $139.3 million for the same period of 2015, as globenewswire reports. Cavco attributes the increase to the operations of two manufactured home builders –Chariot Eagle and Fairmont Homes—the company acquired during Q1 of FY 2016.

Income before taxes was $12.5 million for Q2 2016, an increase of $3.8 million over the $8.7 million for the comparable quarter last year. Net income rose from $5.5 million in the second quarter of 2015 to $8.1 million for Q2 2016.

Net income per share for Q2 2016 based on diluted shares rose from $0.61 in the comparable quarter last year to $0.89 this year.

Joseph Stegmayer, Chairman, President and CEO said, “The integrations of the recently purchased Fairmont Homes and Chariot Eagle operations are progressing as expected. The newly acquired operations are producing affordable housing solutions complementary to Cavco’s growing home product lineup while expanding our geographic footprint.

The management of Cavco will sponsor a conference call, Fri., Oct. 30, 2015 at 1 PM EDT to discuss the results.

MHProNews knows Cavco is one of the largest producers of manufactured homes as well as other offsite-built housing and buildings in the U. S. ##

(Image credit: Cavco Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

 

Cavco Acquires Manufactured Home Producer Fairmont

May 5th, 2015 Comments off

cavco logoMHProNews has learned from globenewswire that manufactured and modular home builder Cavco Industries, Inc. (NASDAQ:CVCO) has acquired Fairmont Homes, Inc. of Nappanee, Indiana through its wholly-owned subsidiary, FH Group, LLC.. With manufacturing plants in Indiana and Minnesota, Fairmont produces manufactured and modular homes and park model recreational vehicles (RVs), and homes built to Canadian codes.

We are pleased to have the Fairmont business and employees join the Cavco group of companies,” said Cavco President Joe Stegmayer. “We believe that Fairmont’s strong production capabilities, reputation for product quality and service and its excellent customer base fit well with Cavco’s philosophy and approach to doing business.

Fairmont’s products will continue to be sold under the Fairmont, Century, Friendship and Harmony names, and Brian Cira will continue on as president of Fairmont Homes.

In addition to manufactured and modular housing, from its headquarters in Phoenix, Arizona, Cavco also produces park model RVs and vacation homes, under subsidiaries Fleetwood Homes, Palm Harbor Homes, Nationwide Homes and Chariot Eagle, through 19 manufacturing facilities.

Although the purchase price was not disclosed, the acquisition was funded with Cavco’s internal capital. ##

(Image credit: Cavco Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Sales, Income Increase Marks Nobility Homes First Quarter 2015

March 16th, 2015 Comments off

nobility homes  their credit  florida companyFor its first quarter ending Jan. 31, 2015, Nobility Homes reports sales increased 35 percent to $5,576,800 over $4,137,438 for the same quarter of 2014. Gross profit was $1,172,769 for Q1 2015 versus $745,530 for the same period 2014.

First quarter income from operations for 2015 equaled $424,820 as compared to $84,186 for the same quarter last year.

Net income for Q1 2015 was $479,788 as opposed to $103,402 for the same quarter of 2014, as globenewswire tells MHProNews.

Diluted earnings per share for 2015 were $0.12 compared to $0.023 per share for the same period 2014.

President Terry Trexler said: “The demand for affordable manufactured housing in Florida and the U.S. is improving; however, our sales and earnings continue to be adversely affected by the challenging housing environment, the uncertainty of the U. S. and world economy, employment levels, consumer confidence and, in particular, the lack of available retail and wholesale financing. Constrained consumer credit and the lack of lenders in the industry, partly as a result of an increase in government regulations, have limited many affordable manufactured housing buyers from purchasing homes.” ##

(Image credit: Nobility Homes)

matthew-silver-daily-business-news-mhpronews-com   Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

SearchCore’s Wisdom Homes of America announces Q3 2014 sales

October 10th, 2014 Comments off

searchcore-logo-parent--company-wisdom-homes-posted-daily-business-news-mhpronews-Wholly owned SearchCore Inc. subsidiary Wisdom Homes announced sales of $351,500 generated by the sale of manufactured homes in Q3 2014. This was a milestone quarter for the Company because it was our first quarter having our Tyler, Texas retail center fully operational. Inventory arrived in early August allowing us to close transactions and post sales in the second half of the quarter, said President of Wisdom Homes Of America, Mr. Brent Nelms.

“As our sales of manufactured homes increase, we are eager to receive our next shipment of inventory do to arrive in early November which will enable us to continue our growth in the coming months,” commented CEO, Jim Pakulis.

GlobeNewswire tells MHProNews that Tyler, Texas based SearchCore was founded in 2010, but as longtime readers know, the firm’s initial focus was internet based, as their name implies. Their manufactured housing retail operation results reflect a start up in the manufactured housing retail sector; but it should be noted that Nelms and his family have long ties in the factory built housing industry. SearchCore’s common stock trades on the OTCQB, under the ticker symbol “SRER.” ##

(Image credit: SearchCore logo)

 

Nobility Homes Improves in 2014 Q1

March 17th, 2014 Comments off

For the first quarter ending Feb. 1, 2014, Nobility Homes, Inc. (NOBH) reports sales increased 23 percent to $4,191,429 over the $3,401,667 for the comparable period in 2013. Net income based on those sales after taxes increased to $103,402, well above the $4,845 for the same period of 2013. Working capital is $20,733,501, according to globenewswire.com, stockholders’ equity is $35,319,524 and there is no outstanding debt. As MHProNews.com reported Friday, March 14, the stock of the manufactured home producer closed at $11.65, but has advanced in today’s trading (March 17) to $12.00. Nobility is headquartered in Ocala, Florida. ##

(Image credit: Nobility Homes, Inc.)