Cavco Industries Inc. reports third-quarter and nine-month financial results.PHOENIX--(BUSINESS WIRE)--Aug. 14, 1995--Cavco Industries Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CVCO) Monday Monday: see week. reported financial results for the third-quarter and nine-month periods ended June June: see month. 30, 1995. For the third quarter, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $25,914,959, compared with the $22,188,008 reported last year. Net income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the was $499,164, or 15 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with the $704,527, or 20 cents per share, reported for the similar period last year. Net income was $494,024, or 15 cents per share, compared with the $889,017, or 26 cents per share, reported for the same period last year. Through the nine months ended June 30, 1995, net sales were $84,562,320, a 24 percent increase over the $67,655,181 reported last year. Net income from continuing operations was $3,083,338, or 91 cents per share, compared with the $2,448,035, or 72 cents, reported for the same period last year. Net income was $2,882,518, or 85 cents per share, compared with $2,774,151, or 82 cents per share, for the similar period last year. All per-share results have been adjusted for a three-for-two stock split effective December December: see month. 1994. As Cavco enters the fourth quarter, its order rates and backlogs have shown substantial improvement. The company anticipates that earnings during the fourth quarter should show marked improvement over the third quarter. Cavco Industries is a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a that produces a line of manufactured homes and through its subsidiaries develops manufactured home subdivisions, sells and leases container units, and provides health-care management services. -0-
CAVCO INDUSTRIES INC.
Summary of Financial Results
Three-Month Period Ended
June 30,
1995 1994
Net sales $25,914,959 $22,188,008 Earnings before income taxes 766,864 1,173,267 Income taxes 267,700 468,740 Income from continuing operations 499,164 704,527 Income (loss) from discontinued operations (5,140) 184,490 Net income 494,024 889,017 Earnings per share from continuing operations 15 cents 20 cents Earnings per share discontinued operations -- 6 cents Earnings per share 15 cents 26 cents
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Six-Month Period Ended
June 30,
1995 1994
Net sales $84,562,320 $67,655,181 Earnings before income taxes 5,077,538 4,080,835 Income taxes 1,994,200 1,632,200 Income from continuing operations 3,083,338 2,448,035 Income (loss) from discontinued operations (200,820) 326,116 Net income 2,882,518 2,774,151 Earnings per share from continuing operations 91 cents 72 cents Earnings per share discontinued operations (6 cents) 10 cents Earnings per share 85 cents 82 cents CONTACT: Cavco Industries Inc., Phoenix Robert Ward Robert Ward (born September 13, 1917 in Cleveland, Ohio) is an American composer. Early work and education Ward was one of five children of the owner of a moving and storage company. As a boy he sang in church choirs and local opera theaters. , 602/265-0580 or Western Financial Group Steve v. t. 1. To pack or stow, as cargo in a ship's hold. See Steeve. Kleemann, 805/964-9518 |
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