Clayton Homes --NYSE: CMH-- Reports Record Quarter.KNOXVILLE Knoxville, city (1990 pop. 165,121), seat of Knox co., E Tenn., on the Tennessee River; inc. 1876. A port of entry, it is a trade and shipping center for a farm, bituminous-coal, and marble area. , Tenn.--(BUSINESS WIRE)--Aug. 5, 1999-- For the nineteenth consecutive year, Clayton Clayton, city (1990 pop. 13,874), seat of St. Louis co., E central Mo., a suburb of St. Louis; inc. 1919. Developed in the 1960s, it has high-rise office buildings, hotels, and shopping centers; several major firms are headquartered there. Homes, Inc. (NYSE NYSE See: New York Stock Exchange : CMH CMH Center of Military History CMH Commission on Macroeconomics and Health CMH Chief of Military History CMH Children's Memorial Hospital CMH Ceramic Metal Halide (General Electric light source) CMH Congressional Medal of Honor ) reported record levels of revenues, earnings and earnings per share. Total revenues for the year ended June June: see month. 30, 1999, grew 19% to $1.34 billion from $1.13 billion. Net income of $155 million was up 13% from $138 million last year. Earnings per share increased 15% to $1.06 from $.92. Manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected sales increased 18% to $1.04 billion while revenue from financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , communities rental, and other income rose 23% to $304 million. Total homes sold increased 10% to 35,526 in 1999. Fourth quarter net income increased 13% to $52 million representing the fifty-second consecutive record quarter since 1986. Net income and revenue have increased in 64 of the 65 quarters since the Company became publicly owned Publicly owned can refer to:
Total revenue for the fourth quarter climbed 16% to $402 million from $346 million. Manufactured housing sales increased 16% to $313 million while revenue from financial services, communities rental, and other income grew 19% to $89 million. Clayton Homes, Inc. is a vertically integrated manufactured housing company engaged in manufacturing, retailing, financing and insuring homes, and operating manufactured housing communities. -0-
(in millions except PERIOD ENDED JUNE 30,
per share data) Fourth Quarter Year
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1999 1998 Change 1999 1998 Change
---- ---- ------ ---- ---- ------
Revenues $ 402.2 $ 345.6 + 16% $1,344.3 $1,127.8 + 19%
Income before taxes $ 82.2 $ 73.8 + 11% $ 246.0 $ 222.1 + 11%
Net Income $ 51.8 $ 45.8 + 13% $ 155.0 $ 137.7 + 13%
Diluted earnings
per share $ 0.36 $ 0.31 + 16% $ 1.06 $ 0.92 + 15%
Diluted average
shares outstanding 144.8 149.7 - 3.3% 145.9 149.5 - 2.4%
1998 Earnings per share and shares outstanding data have been adjusted for a 5-for-4 stock split paid on December 9, 1998. Certain statements may be considered forward looking and involve certain risks and uncertainties that may cause actual results to differ materially from expectations. |
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