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Posts Tagged ‘year 2013’

Cavco Releases Quarterly and Annual Financials

May 24th, 2013 Comments off

According to globenewswire, Cavco Industries, Inc. reports net income before taxes for the fiscal fourth quarter 2013 was $3 million, up from $2.9 million from the same period last year including a $1.2 million tax benefit from the acquisition of Palm Harbor. Net revenue rose 9.4 percent for fiscal Q4 2013 over Q4 2012, $108.8 million over $99.5 million. For the fiscal year ending March 30, 2013, net revenue rose 2.1 percent to $452.3 million from $443.1 million for the same period ending 2012. Net income attributable to Cavco stockholders for fiscal year 2013 was $5.0 million compared to $15.2 million the previous year, although this included approximately $11 million of the gain recognized from the acquisition of Palm Harbor. Joseph Stegmayer, Chairman, President and Chief Executive Officer said, “We are pleased to report improved results for the fourth quarter compared to the same period last year. We realized a 15.1% increase in home sales to 2,176, up from 1,890 homes sold in the fourth quarter of fiscal 2012. On an annual basis, the average sales price per home decreased to approximately $48,594 compared to $51,760 in fiscal year 2012, as demand rose for small size and lower price point homes. However, we sold 6.8% more homes overall in fiscal 2013 versus last year, totaling 8,398 homes compared to 7,860 in fiscal year 2012.” As MHProNews knows, Cavco is the second largest producer of manufactured homes in the U. S., marketed under Cavco, Fleetwood, and Palm Harbor.

(Photo credit: Stacy Hairston/franklinnews-post–Cavco Homes, Rocky Mt., VA facility)

Cavco to Announce Quarterly Earnings Report

May 21st, 2013 Comments off

As globenewswire informs MHProNews Cavco Industries, Inc. will release its earnings report for Q4 of fiscal year 2013 following the close of the market Thurs., May 23, 2013. Friday, May 24, senior management officials will discuss the results in a live webcast at 12:00 PM Eastern Time. Listen via Internet: http://www.cavco.com under the Investor Relations link. The call will be archived using the same contact information for 90 days. The second largest producer of manufactured homes in the nation, Cavco designs and produces factory-built housing products under a variety of brand names including Cavco, Fleetwood, and Palm Harbor, and modular homes under the Nationwide Homes brand.

(Image credit: Cavco Industries, Inc.)

Cavco Financials: Holding Steady

February 1st, 2013 Comments off

GlobeNews reports Cavco Industries, Inc.’s financials for the fiscal third-quarter 2013 reveal net sales remained the same as for same quarter 2012–$114.6 million. Net income was $3 million for both. The first nine months of FY 2013, which ended Dec. 29, 2012 saw sales drop by $.01 million from the same period last year to $343.5 million. Net income for the first nine months of FY 2013 attributable to Cavco stockholders was $3.6 million versus $13.3 million for last year, which includes $11 million as the result of acquiring Palm Harbor in 2011. Speaking of Q3, Joseph Stegmayer, Chairman, President and Chief Executive Officer (and former MHI Chairman) says, “We are pleased with the continued contributions and progress of our acquired businesses. However, increasing homebuilding component and raw material costs, continued competitive pricing pressures, market demand for smaller and lower price-point homes and a higher income tax provision adversely affected our earnings during the quarter. The average sales price per home was approximately $50,100 during the third quarter of fiscal year 2013 compared to $53,200 during the third quarter last year, a 5.8% decrease. On a positive note, home sales increased this quarter to 2,065 homes, 4.7% higher than 1,972 homes sold during the same quarter last year.” As MHProNews understands, Cavco is the second largest producer of manufactured homes in the nation.

(Photo credit: Stacey Hairston/Franklin News-Post–Cavco plant Rocky Mt. Vir.)

ELS Reports Q4 Financials

January 30th, 2013 Comments off

RTTNews says Equity LifeStyle Properties (ELS) reports revenues for Q4 2012 increased to $171.93 million from $162.32 million for the same period in 2011. Funds from operations (FFO) for the fourth quarter hit $50.3 million, or $1.11 per share, as compared to $44.8 million, or $0.99 per share for the same period the previous year. For fiscal year 2013, the company anticipates FFO per share to range from $4.94 to $5.14. MHProNews understands ELS, the largest MHC owner in North America, owns and operates 380 communities comprised of over 141,000 homesites.

(Photo credit: Equity LifeStyle Properties, Inc.–Lake Haven, Clearwater, Fla.)