Cavco Industries Inc. said its normalized net income for the fiscal fourth quarter ended March 28 came to 63 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.
EPS climbed 37.4% year over year from 46 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.7 million, an increase of 37.4% from $4.2 million in the year-earlier period.
The normalized profit margin climbed to 4.0% from 3.2% in the year-earlier period.
Total revenue increased 7.7% year over year to $141.2 million from $131.2 million, and total operating expenses grew 6.0% from the prior-year period to $132.6 million from $125.1 million.
Reported net income rose 40.8% year over year to $6.0 million, or 66 cents per share, from $4.2 million, or 47 cents per share.
For the year, the company's normalized net income totaled $2.48 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.50.
EPS rose 35.8% from $1.83 in the prior year.
Normalized net income was $22.4 million, a rise of 46.1% from $15.3 million in the prior year.
Full-year total revenue grew 6.2% on an annual basis to $566.7 million from $533.3 million, and total operating expenses rose 5.2% year over year to $532.8 million from $506.6 million.
The company said reported net income grew 46.4% on an annual basis to $23.8 million, or $2.64 per share, in the full year, from $16.3 million, or $1.94 per share.
