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Posts Tagged ‘gross profit’

UFPI Releases Financials for Second Quarter

August 10th, 2012 Comments off

Yahoo! Finance says Universal Forest Products, Inc. (UFPI) released the following statement of earnings as a percentage of net sales, comparing Q2 2011 to Q2 2012: The company reports gross profit of 12.1% for the second quarter of 2012 versus 10.4% for the same period 2011; earnings from operations increased from 1.4% for Q2 2011 to 5.0% for the quarter ending 6-30-2012; net earnings were 3.0% for Q2 2012 as compared to 0.8% for the same period in 2011. In the manufactured housing market, gross sales were up 25% in the second quarter of 2012 over the same period of 2011, due to increased demand for HUD-Code manufactured housing, as well as demand for temporary housing related to oil and gas exploration in certain parts of the country. In their filing, the company notes its strongest sales increases were in the MH and industrial markets. MHProNews knows UFPI provides structural lumber and wood alternative products to the manufactured housing industry.

(Photo credit: Tim Saville/General Truss)

Cavco Announces Q1 Financials

August 3rd, 2012 Comments off

MarketWatch says Phoenix-based Cavco Industries, Inc. (CVCO: +3.63% Aug. 2) reported net sales for the first quarter of fiscal year (FY) 2013 totaled $118,781,000, representing a 20% increase over the $98,981,000 net sales for the first quarter of FY 2012. First quarter 2013 net income was $1,618,000 as compared to $20,688,000 for the same period in 2012. Included in net income for the first quarter of FY 2012 was $22,009,000 representing Cavco’s ownership percentage of the Palm Harbor transaction that occurred April 23, 2011. Commenting on the first quarter results, Vice president and Chief Financial Officer Dan Urness said, “Gross profit as a percentage of net sales increased 4.0% to 20.3% for the first quarter of fiscal 2013 versus 16.3% for the same quarter in the prior year. The increase is primarily attributable to having the full quarter benefit of the generally higher margin Palm Harbor retail and finance businesses versus a partial quarter last year, given the transaction closing date of April 23, 2011.” Cavco will hold a conference call Fri. Aug 3, 2012 at 12:00 noon eastern time to discuss these results. As MHProNews has learned, Cavco designs and produces manufactured and modular homes as well as park model homes, vacation cabins, and commercial structures, and also provides financial services to consumers. Cavco gained +0.25% on the stock market today.

(Image credit: Cavco Industries, Inc.)