Clayton Homes reports record profits.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)--August 5, 1996--In its sixteenth consecutive record 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 an increase in net income of 23% to $107 million from last year's $87 million. Earnings per share for the year ended June 30, increased 22% to $1.12 from $0.92. Total revenue for the year grew 23% to $929 million from $758 million. 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 23% to $762 million 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. and rental and other income rose 22% to $166 million. Fourth quarter net income increased 33% to $38 million representing forty quarters or ten years of consecutive record quarters. Net income and revenue have increased in 52 of the 53 quarters since the Company became publicly owned Publicly owned can refer to:
Total revenue for the fourth quarter climbed 25% to $291 million from $232 million. Manufactured housing sales increased 22% to $238 million while revenue from financial services and rental and other income grew 41% to $53 million. Fourth quarter results include a pre-tax gain of $4.8 million resulting from the sale of the Company's interest in two communities owned in partnership with non-affiliated parties. Clayton Homes Inc. is a vertically integrated manufactured housing company engaged in manufacturing, retailing, financing and insuring homes, and owning manufactured housing communities. -0-
Clayton Homes Inc.
Summary Results June 30,
(dollars in millions, except
per share data) Fourth Quarter Year Ended
1996 1995 % Change 1996 1995 % Change
Revenue $290.9 $232.5 +25% $928.7 $758.1 +23%
Income before taxes 61.6 44.4 +39% 172.3 135.8 +27%
Net income $ 37.6 $ 28.3 +33% $106.8 $ 87.0 +23%
Earnings per share $ 0.39 $ 0.30 +30% $ 1.12 $ 0.92 +22%
Average shares
outstanding 95,819 94,841 +1% 95,477 94,903 +1%
1995 share data is adjusted for a 5-for-4 stock split paid
December 13, 1995.
CONTACT: Clayton Homes, Inc., Knoxville Investment Relations Department, 423/970-7200 |
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