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Skyline, Champion Announce Thursday 1.25.2018, Conference Call – Details, & Insights Beyond their Press Release

January 24th, 2018 Comments off

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In a press release to the Daily Business News and others in media, Skyline Corporation and Champion Home Builder’s have announced a joint conference call scheduled for 1.25.2018.

Before getting into their press release about the conference call and other details, sources tell MHProNews that Keith Anderson, president of Champion, told several attendees at the recent Louisville Manufactured Housing Show that he didn’t get “much pushback” from Clayton Homes after their recent announcement.

Another informed source told MHProNews that fairly typical non-disclosure agreements (NDA) exist between Skyline and Champion regarding their pending deal.

What’s Happened Since the Skyline (SKY) Champion Homes Deal Was Announced? Plus MH Market Update$

There are certainly contingencies, per sources, which could cause their announced deal not to go through. Therefore, it is “Not yet a done deal.”

The stock rocked north upon the initial news, but has since retreated, as last night’s closing numbers reveal.  How much of that retreat by investors may be due to whispers surrounding the deal is not entirely clear.

 

The Bain Connection

Part of the release references Champion’s connections to Bain Capital.  For those who may not recall, “The company [Bain Capital], and its actions during its first 15 years, became the subject of political and media scrutiny as a result of co-founder Mitt Romney’s later political career, especially his 2012 presidential campaign,” states Wikipedia.

That same source said, “Bain Capital is a global alternative investment firm based in Boston, Massachusetts. It specializes in private equityventure capital and credit products. Bain Capital invests across a range of industry sectors and geographic regions. As of June 2014, the firm managed more than $75 billion of investor capital across its various investment platforms.”

The firm [Bain] was founded in 1984 by partners from the consulting firm Bain & Company.[2] Since inception it has invested in or acquired hundreds of companies including AMC Theatres, Artisan Entertainment, Aspen Education Group, Brookstone, Burger King, Burlington Coat Factory, Canada Goose, DIC Entertainment, Domino’s Pizza, DoubleClick, Dunkin’ Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), iHeartMedia, Sealy, Sports Authority, Staples, Toys “R” Us, Warner Music Group, Fingerhut, The Weather Channel, and Apple Leisure Group, which includes AMResorts and Apple Vacations.”

As of 2014, Bain Capital employs more than 900 people.[citation needed] Bain Capital is headquartered at the 200 Clarendon Street in Boston, Massachusetts with additional offices in New York City, Chicago, Palo Alto, San Francisco, Dublin, London, Luxembourg, Munich, Hong Kong, Shanghai, Mumbai, Tokyo and Melbourne.”

 

Centerbridge

Centerbridge Partners,” says Wikipedia, “is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities.

The firm manages over $25 billion of assets[1] and is based in New York City, with an additional office in London. The firm invests in both control (private equity and public debt with a “loan-to-own” strategy) and non-control (public market debt, public market equities, and other publicly traded securities) opportunities.

The firm [2] was founded in 2005 by Jeffrey Aronson and Mark Gallogly.”

 

MAK

MAK Capital was also cited by the Skyline/Cision release as an investor in Champion.

Per Bloomberg, “MAK Capital One, LLC is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It manages separate client focused portfolios. The firm invests in the public equity, fixed income, and alternative investment markets. It also employs event driven investing to make its investments. MAK Capital One, LLC was founded in May 2002 and is based in New York City.”

According to the MAK website, MAK Partners’ aim is to successfully help define and implement customized strategies for investing in US and European commercial and residential real estate.”

 

Per The Skyline/Cision Release…

ELKHART, Ind., Skyline Corporation (“Skyline” or the “Company”) will hold a conference call at 9:00 am Eastern Time on Thursday, January 25, 2018 to discuss the previously announced definitive agreement to combine operations with Champion Enterprises Holdings, LLC (“Champion”). 

Members of executive management of Champion also will participate in the conference call. 

To participate in the live conference call, dial 1-877-407-0784 (U.S. and Canada) or 1-201-689-8560 (International).  Presentation slides to accompany the call will be available,” stated their release.

Quoting verbatim the balance of their release…

About Skyline Corporation:

Skyline Corporation and its consolidated subsidiaries design, produce, and market manufactured housing, modular housing, and park models to independent dealers, developers, campgrounds, and manufactured housing communities located throughout the United States and Canada. The company has eight manufacturing facilities in seven states. Skyline Corporation was originally incorporated in Indiana in 1959, as successor to a business founded in 1951, and is one of the largest producers of manufactured and modular housing in the United States. For more information, visit http://www.skylinecorp.com.

About Champion Enterprises Holdings, LLC:

Champion Enterprises Holdings, LLC was formed in 2010 as the parent company of Champion Home Builders, Inc. which was founded in 1953.  Champion Home Builders specializes in a wide variety of manufactured and modular homes, park-model RVs and modular buildings for the multi-family, hospitality, senior and workforce housing sectors. The company operates 28 manufacturing facilities throughout North America. Additionally, Champion operates a factory-direct retail business, Titan Factory Direct, with 21 retail locations spanning the southern U.S., and Star Fleet Trucking, providing transportation services to the manufactured housing industry from 10 dispatch locations across the United States. Champion is majority owned by funds affiliated with Bain Capital Credit (https://www.baincapitalcredit.com), Centerbridge Partners, L.P. (https://www.centerbridge.com), and MAK Capital.  For more information, visit https://www.championhomes.com.

Forward-Looking Statements

Except for historical information contained herein, this document expresses “forward-looking statements” which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995, as amended. Such matters include forward-looking statements regarding the prospective effects and timing of the proposed share contribution and exchange transaction with Champion (the “Exchange”).  Generally, the words “believe,” “expect,” “intend,” “estimate,” “project,” “will,” and similar expressions indicate forward-looking statements.  Those statements, including statements, projections, estimates, or assumptions concerning future events or performance, and other statements that are other than statements of historical fact, are subject to material risks and uncertainties.  Skyline cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made.  Skyline may make other written or oral forward-looking statements from time to time.  Readers are advised that various important factors could cause Skyline’s actual results or circumstances for future periods to differ materially from those anticipated or projected in such forward-looking statements.  Such factors, among others, include, but are not limited to: potential failure to obtain shareholder approval of the Exchange-related matters to be submitted to Skyline’s shareholders (the “Company Shareholder Approval Matters”); potential failure to obtain regulatory approval for the Exchange or to satisfy other conditions to the consummation of the Exchange on the proposed terms and within the proposed timeframes; costs or difficulties relating to integration matters might be greater than expected; material adverse changes in Skyline’s operations or earnings; changes in laws, regulations, or accounting principles generally accepted in the United States; the effect of the recently enacted Tax Cuts and Jobs Act on Skyline and its subsidiaries; Skyline’s competitive position within the markets it serves; unforeseen downturns in the local, regional, or national economies or in the specific regions in which Skyline has market concentrations; and other risks discussed in Skyline’s filings with the SEC, including its Annual Report on Form 10-K, which filings are available from the SEC.  Skyline undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.

Additional Information for Shareholders

In connection with the Company Shareholder Approval Matters and the proposed Exchange, Skyline will prepare a proxy statement to be filed with the SEC.  When completed, a definitive proxy statement and a form of proxy will be mailed to the shareholders of Skyline.  The proxy statement will contain important information about the Company Shareholder Approval Matters and the proposed Exchange and related matters.  SKYLINE’S SHAREHOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED EXCHANGE (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS) CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY SHAREHOLDER APPROVAL MATTERS AND THE PROPOSED EXCHANGE.  Skyline’s shareholders will be able to obtain, without charge, a copy of the proxy statement (when available) and other relevant documents filed with the SEC from the SEC’s website at http://www.sec.gov.  Skyline’s shareholders also will be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Skyline Corporation, 2520 By-Pass Road, P.O. Box 743, Elkhart, Indiana 46514, Attention: Corporate Secretary, or by calling (574) 294-6521, or from Skyline’s website at http://www.skylinecorp.com under the tab “Investors – SEC Filings.”  The information available through Skyline’s website is not and shall not be deemed part of this Current Report on Form 8-K or incorporated by reference into other filings Skyline makes with the SEC.  This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval.

This communication is not a solicitation of proxies in connection with the proposed Exchange.  However, Skyline and its directors and officers may be deemed to be participants in the solicitation of proxies from Skyline’s shareholders with respect to the special meeting of shareholders that will be held to consider the Company Shareholder Approval Matters in connection with the Exchange.  Information concerning the ownership of Skyline securities by Skyline’s directors and executive officers is included in their SEC filings on Forms 3, 4, and 5 and additional information about Skyline’s directors and executive officers and their ownership of Skyline’s common stock is set forth in the proxy statement for Skyline’s 2017 annual meeting of shareholders, as filed with the SEC on Schedule 14A on August 22, 2017.  Shareholders may obtain additional information regarding the interests of Skyline and its directors and executive officers in the proposed Exchange, which may be different than those of Skyline’s shareholders generally, by reading the proxy statement and other relevant documents regarding the proposed Exchange, when filed with the SEC.  These documents can be obtained free of charge from the sources indicated above.

SOURCE: Skyline Corporation.”

— 30 —

Both firms are members of the Manufactured Housing Institute (MHI). A recent report on MHI, is linked below.

Busted! “Failure Bonus” Paid-Richard “Dick” Jennison, CEO Manufactured Housing Institute-per MHI Document$

Disclosure. MHProNews has no positions and makes no recommendations about the firms being reported. Last night’s closing numbers are linked here.   “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

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Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Sunday Morning Weekly Recap Manufactured Housing Industry News, September 24 to October 1, 2017

October 1st, 2017 Comments off
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Featured image credit, MHProNews.

Tony, every week there is so much that happens, this [The Sunday Morning Headline News Recap] is an easy way for me to review the news, thank you for this [feature] and your team’s coverage of factory-built housing.

Our featured articles for September are available on the MHProNews.com home page.

FYI – and ICYMI if you aren’t already on our twice-weekly emailed headline news update, click here to sign up in seconds.

Thousands get our emails, and the open and click through rates – per MailChimp – blow away others in media and publishing.  The reason?  “Relevant!” said a regular on MHProNews.

To see the line-up of over 2-dozen featured articles for the month of September, along with the headline commentary, please click this link here.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

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(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

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Sunday Morning Weekly Recap Manufactured Housing Industry News June 25 to July 2, 2017

July 2nd, 2017 Comments off
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A look at the new MHProNews.com home page.

As vacation season rolls on, we’ll try something just a little bit different again today for our weekly recap of .  Reader feedback, always encouraged and appreciated.  Matthew and his work are missed, but we hope his trip to the mountains will be a good one!

What’s New on MHLivingNews.com

We’re testing out some new things on the Daily Business News this week too, and have had some guest writers doing reports for us.  Traffic on these reports have been good  – that’s always a positive sign – but your written feedback is appreciated. 

July 1st, 2017

Able+AbleFactoryBuiltHomeModularManufacturedHousingDailyBusinessNewsMHProNews

June 30, 2017

HUDSecBenCarsonAbsoluteNeedHousingCrusadersAffordableHousingManufacturedHomeDailyBusinessNewsResearchDataReportsVideoDailyBusinessNewsMHProNews410

June 29th, 2017

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June 28th, 2017

 

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Chet Murphree, Deer Valley Homebuilders. James McGee. Deer Valley Homebuilders, L.A. ‘Tony’ Kovach, Inside MH.

June 27th, 2017

 

MHARR_accuses_HUD_of_power_grab_June_2017

 

June 26th, 2017

OPEC Disarray May Yield Manufactured Housing Industry Hooray

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Putting the Cart Before the Horse—Er, House—in Montana

Sunday, June 25th.

Sunday Morning Weekly Recap Manufactured Housing Industry News June 18 to June 25, 2017

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(Image credits are as shown above.)

Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com.

Analyst, Investor Action at Skyline – What’s Happening?

May 5th, 2017 Comments off
AnalystInvestorActionatSkylineWhatsHappeningcreditBloomberg-creditdailybusinessnewsmhpronewsmhlivingnews

Credits: Skyline, Pinterest.

For Skyline Homes, a recent rough patch has analysts and investors making moves.

According to the Cerbat Gem, TheStreet downgraded shares of the company from a “c” rating to a “d” rating, in a research note issued to investors late last week.

The move comes as Skyline’s stock price has declined over 26 percent since September 2016, which the Daily Business News has followed closely in the daily market wrap.

Also of note is the announcement regarding the shutdown of their Mansfield, Texas production facility, and the subsequent announcement that Champion Homes will acquire it.

Skyline followed up that announcement on March 9th, saying that it had suspended operations at its Elkhart, Indiana plant.

It’s not that we didn’t have the orders or the business or the customer base,” said Skyline president and CEO Richard Florea. “Despite demand from manufactured housing dealerships and manufactured housing communities, the leased facility used for production prevented daily volumes to reach and maintain profitable efficiencies.

Skyline has taken steps to ensure the 90 or so employees affected by the move are not without work, offering them jobs at other Skyline facilities in Wisconsin or Ohio or connecting them with other job opportunities.”

The SEC filing from Skyline said that the company was unable to profitably operate the 50,000 square-foot facility, which it began leasing from Forest River last year.

Investor Activity 

These developments have investors making moves, with Renaissance Technologies LLC raising its position in Skyline by 51.6 percent in the fourth quarter, now with a value of just over $5 million.

Wells Fargo & Company increased its position in Skyline by 2.5 percent in the first quarter, and now owns nearly 1.2 million shares valued at $11,233,000.

AnalystInvestorActionatSkylineWhatsHappeningcreditBloomberg-creditdailybusinessnewsmhpronewsmhlivingnews

Skyline 1 year look. Credit: Bloomberg.

As Daily Business News readers are already aware, Skyline is also one of the industry stocks monitored each business day. For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

 

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

 

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RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

What’s Happening With Skyline Corp?

March 9th, 2017 Comments off
WhatsHappeningWithSkylineCorpcreditInsideIndianaBusiness-postedtothedailybusinessnewsmhpronewsmhlivingnews

Skyline HQ. Credit: Inside Indiana Business.

Fresh off of their announcement regarding the shutdown of their Mansfield, Texas production facility, and the subsequent announcement that Champion Homes will acquire it, Skyline Corp. (NYSE: SKY) announced yesterday that the company has suspended operations at its Elkhart, Indiana plant.

 

According to the South Bend Tribune, Skyline also announced that they have laid off the majority of the workforce at the facility.

It’s not that we didn’t have the orders or the business or the customer base. It’s that in a leased facility, it did not allow us to produce a high enough volume to achieve operational efficiency,said Skyline president and CEO Richard Florea.

Skyline has taken steps to ensure the 90 or so employees affected by the move are not without work, offering them jobs at other Skyline facilities in Wisconsin or Ohio or connecting them with other job opportunities.

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Credit: LinkedIn.

Florea also said that other measures have been taken to minimize the impact.

We allowed some other companies in town to come in and take applications from employees. We made it as easy as possible so people don’t have to go out and look for jobs,” said Florea.

The SEC filing from Skyline said that the company was unable to profitably operate the 50,000 square-foot facility, which it began leasing from Forest River last year.

Despite demand from manufactured housing dealerships and manufactured housing communities, the leased facility used for production prevented daily volumes to reach and maintain profitable efficiencies,” the company said in the filing.

The corporation anticipates having sufficient orders to maintain production at the Elkhart facility until March 8, 2017. The majority of the workforce is expected to be terminated shortly after production ceases.

SkylineCorpModularHome-postedDailyBusinessNews-MHProNews

Skyline modular home, credit Skyline.

Once a pioneer in the manufactured housing industry, nine consecutive years of significant losses have contributed to Skyline’s struggle to regain profitability. It posted a $1.7 million profit in 2016.

As MHProNews reported in September, 2014, Skyline spun off its recreational vehicle division to Evergreen Recreational Vehicles. For that story, click here.

Even with the tough news, Florea did see a glimmer of hope.

Skyline could re-establish production in Elkhart if we find the right facility and the labor market improves,” said Florea.

The area is currently suffering from a labor shortage, due to a jobs boom in the manufactured housing and RV industries.

As Daily Business News readers are already aware, Skyline is also one of the industry stocks monitored each business day. For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Skyline Makes Announcement Regarding Mansfield Facility

March 6th, 2017 Comments off
SkylineMakesAnnouncementRegardingMansfieldFacilitycreditStarTelegram-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Star-Telegram.

MHProNews has learned that Skyline Corp. has come to terms to sell its Mansfield, Texas manufactured-housing facility to Champion Home Builders.

According to the Star-Telegram, under terms of the deal, Champion would pay a $99,000 deposit and then $2,125,000 upon closing, scheduled to occur on or before April 7, according to a filing with the SEC.

As the Daily Business News reported last week, Skyline was prepared to shut down their Mansfield, Texas facility due to an inability to operate profitably.

The suspension is due to the plant being unable to profitably operate since it was converted from producing recreational vehicles to manufactured housing in fiscal 2014,said Florea in an announcement to employees at the plant on February 24th.

Challenges this location faced included fewer independent manufactured housing dealerships buying homes than anticipated resulting in sales volumes not reaching profitable levels.

Skyline had originally stated in their recent 8-K filing that if a buyer could not be found by the time current production at the facility is completed at the end of March, the majority of the workforce will have to be terminated.

With the purchase, Champion Homes also alerted officials in Mansfield that they intend to hire the current workers at the facility, saving over 100 jobs.

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Credit: Champion Homes.

Skyline also said that a portion of the property is leased for oil and gas production and that a subsidiary, Homette, would continue to receive royalties for 60 months following the sale.

championhomesopensmanufacturedhomeplantinkentuckycreditwoodworkingnetwork-postedtothedailybusinessnewsmhpronewsmhlivingnews

Ribbon cutting ceremony for Champion Homes Kentucky plant. Credit: Woodworking Network.

As regular Daily Business News readers already know, Champion Homes was founded in 1953, producing more than 1.7 million factory-built pre-HUD Code mobile homes, post-HUD Code manufactured homes and modular homes or buildings throughout the United States, in the United Kingdom and western Canada. For more on the companies’ recent acquisition of a former Excel Homes facility in Susquehanna Township, Penn., click here.

Skyline Corporation is one of the oldest and larger independent producers of manufactured, modular and park model homes.

Skyline is also one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.  For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews

Skyline Corporation Makes Executive Announcement

March 3rd, 2017 Comments off
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Skyline Homes logo, kitchen and CEO’s photo, credits – Skyline Homes.

Skyline Corp. (NYSE: SKY) tells MHProNews that Jeff Newport has been promoted to Chief Operating Officer.

Newport previously served as Senior Vice President of Operations, joining Skyline in February 2016.

Jeff has already made a significant impact on our operations and his promotion to Chief Operating Officer is well-earned,” said Richard W. Florea, Skyline’s President and CEO.

SkylineCorporationMakesExecutiveAnnouncementcreditLinkedIn-JeffNewport-postedtothedailybusinessnewsmhpronewsmhlivingnews

Jeff Newport. Credit: Skyline Corp.

I have worked closely with Jeff over the past 12 months and I look forward to continue working together as we strive to continuously improve our operating efficiency and overall profitability.

Newport will continue to report to Florea, and will serve as a member of the executive leadership team. His responsibilities include leading Skyline’s overall operations in the areas of manufacturing, procurement, quality, human resources and engineering.

As Daily Business News readers are aware, Skyline has been in the news recently, including a story on the shut down of their Mansfield, Texas facility.

The suspension is due to the plant being unable to profitably operate since it was converted from producing recreational vehicles to manufactured housing in fiscal 2014,” said Florea in an announcement to employees at the plant.

Challenges this location faced included fewer independent manufactured housing dealerships buying homes than anticipated resulting in sales volumes not reaching profitable levels.”

SkylinetoSuspendFacilityOperationscreditSkyline-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Skyline Corp.

Skyline is looking for a buyer for the facility, but stated in their recent 8-K filing that if a buyer cannot be found by the time current production at the facility is completed at the end of March, the majority of the workforce is expected to be terminated.

More on Skyline, including their spike in stock price is linked here. For more Vector Capital Management increasing its stake in the company by 805 percent in December, click here.

Skyline is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.  For yesterday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Editor’s Note: most recent earnings report from Skyline Corp. is linked here.)

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

Skyline to Suspend Facility Operations

February 24th, 2017 Comments off
SkylinetoSuspendFacilityOperationscreditSkyline-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Skyline Corp.

Elkhart, Indiana-based Skyline Corp. (NYSE: SKY) announced in an 8-K filing with the SEC last week that it plans to suspend operations at its manufactured housing facility in Mansfield, Texas.

The suspension is due to the plant being unable to profitably operate since it was converted from producing recreational vehicles to manufactured housing in fiscal 2014,” said CEO Richard Florea in an announcement to employees at the plant.

Challenges this location faced included fewer independent manufactured housing dealerships buying homes than anticipated resulting in sales volumes not reaching profitable levels.

Skyline anticipates having sufficient orders to maintain production at the facility for the next six to eight weeks, and is seeking potential buyers for the facility.

richard-w-flora-credit-linkedin-skyline-corp-new-president-posted-daily-business-news-mhpronews-com-1

Credit: LinkedIn.

If a buyer cannot be found by the time current production is completed, Skyline says that the majority of the workforce is expected to be terminated during a two-week period beginning March 27, 2017 and ending April 10, 2017.

It has been a wild ride for Skyline over the last few months, including activity that yielded a 278% stock price increase and the company’s stock price hitting a 52-week high.

Investors have also been active, including Vector Capital Management increasing its stake in Skyline by 805 percent in December.

Our continued focus on growing sales and improving margins through disciplined operations generated favorable year-over-year results in the quarter,” said Florea, commenting on a recent earnings report.

While we are pleased with the progress we are making, we are committed to capitalizing on the opportunities we have.“

SkylinetoSuspendFacilityOperationscreditBloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Skyline 1 year view. Credit: Bloomberg.

The most recent earnings report from Skyline Corp. is linked here.

For the 8-K filing announcing the Mansfield facility shutdown, click here.

Skyline is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.  For yesterday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Editor’s Note: for our interview with Skyline’s Terry Decio, please click here.)

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

Sunday Morning Weekly Recap – Manufactured Housing Industry News – November 27th – December 3rd, 2016

December 4th, 2016 Comments off

sunday-morning-weekly-manufactured-home-pro-news-recap-1-4-to-1-10-2015-mhpronews-com-With Entrepreneurs November in MHVille 2016, in the rear-view mirror, December and an entirely new set of featured articles are found on the MHProNews.com home page. Our theme for this month is:

DAAD = Dramatic! Advent! Adventure! December 2016!

To see the line-up of over 3 dozen featured articles for this month, along with the headline commentary, please click the link above.

Manufactured, modular and prefabricated home professionals know that how a home got to its location should not define a person or their dwelling.

What the Daily Business News spotlights day-by-day are the tragedies, triumphs and struggles for acceptance of the obvious solution for millions for the growing affordable housing crisis in the U.S. and beyond.

mhpronewslogoindustrynewstipsviewsproscanuse

When you read the lineup for the month found on the home page, you can reflect on another motto as you chart your own professional path ahead: “We Provide, You Decide.”  ©

 

What’s New On MHLivingNews

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Clayton Home Building Group Donates New Home to Alabama Resident in Need, Video

 

No Longer “Trailer Trash” – Manufactured Homes are Quality, Affordable Housing

 

What’s New On MHProNews

  

Saturday December 3rd, 2016

1sundaymorningweeklyrecapmanufacturedhousingindustrynewsnovmeber27thdec3rd2016-postedtomanufacturedhousingindustrydailybusinessnewsmhpronews 

Investor Makes Big Moves on Skyline Homes  

Harvard Clinton-Trump Campaign Debate & Trump Thank You Tour-Videos

 

Friday December 2nd, 2016

 

Is Ben Carson the Right Choice for HUD Secretary? Depends On Who You Ask

Louisiana-Pacific Leads Up Day For Manufactured Housing Comp, Broader Markets Mixed

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Manufactured Home Owners Face Unique Crisis, Community Response 

As Winter Approaches, Fire Safety Facts and Myths Take Center Stage 

Dreaming of a Free Home at Christmas – Ava Wood’s True Story 

Equity Lifestyle Properties Sees Volume Spike in Stock, Updates Earnings Guidance

 

Thursday December 1st, 2016

 

Berkshire Hathaway, Skyline lead Manufactured Housing Comp, Broader Markets Mixed, Dow New Record High 

Economic Boom Causing Manufactured Home Community Evictions?

Explosion at Manufactured Home Community Injures Resident

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Clayton Homes Makes a new Acquisition

Sun Communities Price Targets, Ratings from Analysts

December 2016 MHProNews Featured Articles Scheduled

 

Wednesday November 30th, 2016

 

Skyline, Affiliated Managers Up, Manufactured Housing Comp Down, Big OPEC News-Video

Cavco Investor$ Modify Holdings, Analysts Provide Ratings

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Jim Visser, Journal of Manufactured Housing say “Thank You!” and Good-bye

Court Puts Overtime Rule on Hold

Majority of Financial Advisors See Strong Economy Under Donald Trump

 

Tuesday November 29th 2016

 

Patrick, Drew Industries Up, Manufactured Housing Comp, Broader Markets Green – Video

Zillow’s Predictions for U.S. Housing Market Under Donald Trump

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Looking for Millennials? You Likely Won’t Find Them in the Home Building Sector

Modular Company Helps Schools to Solve Fluctuating Enrollment Challenges

 

Monday November 28th, 2016

 

Sun Communities, Equity LifeStyle Properties Up, Manufactured Housing Comp Value, Broader Markets Down

No Longer “Trailer Trash” – Manufactured Homes are Quality Affordable Housing

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MH Communities Threatened by Toxic Plume, Questions Remain

Drew Industries Names New CFO, Quarterly Dividend posted

Report: What’s the Most Partisan Federal Agency?

 

Sunday November 27th, 2016

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Sunday Morning Weekly Recap – Manufactured Housing Industry News – November 20th – November 27th, 2016 ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Investor Makes Big Moves on Skyline Homes

December 3rd, 2016 Comments off
whydoequitiesloveskylinecorpcreditbinarycorpwikipediaequitescom-posteddailybusinessnews

Image credits: Wikipedia, Binary Options, Skyline Homes and Equites.com, collage credit, MHProNews.com. 

Venator Capital Management increased its stake in Skyline Corp (NYSE: SKY) by 805 percent in Q2 based on its latest regulatory filing with the SEC.

Venator purchased 466,541 shares as the company’s stock, and now holds 524,492 total shares valued at $4.93 million.

The move follows Skyline’s recent earnings results, where the company reported a 26 percent increase in net sales from continuing operations over the same quarter one year ago, and income from continuing operations of $744,000, as compared to a loss of $895,000 from continuing operations in the first quarter of fiscal 2016 a $1.5-million increase.

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Ventor, Skyline images are their respective properties, used here under fair use guidelines. Collage and text graphics by MHProNews.

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Credit: LinkedIn.

Our continued focus on growing sales and improving margins through disciplined operations generated favorable year-over-year results in the quarter,” commented president and Chief Executive Officer, Richard Florea.

While we are pleased with the progress we are making, we are committed to capitalizing on the opportunities we have.

The Daily Business News has followed news on Skyline recently; including coverage of their 278% stock price increase YTD and the company’s stock price hitting a 52-week high.

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Image collage and text by MHProNews, individual image credits are those of Skyline Homes, and are used here under fair use guidelines. To see their latest quarterly report, please click here or the image above.

As manufactured housing industry professionals and investors know, Skyline Corporation is one of the oldest and larger independent producers of manufactured, modular and park model homes.  It is one of the manufactured housing industry stocks monitored each business day on the Daily Business News.

For Thursday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Editor’s Note: for A Cup of Coffee withTerry Decio, Skyline Homes, click here.)

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.