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Skyline fiscal Q3 loss narrows YOY

Skyline Corp. said its normalized net income for the fiscal third quarter ended Feb. 29 came to a loss of 4 cents per share, compared with a loss of 22 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $321,250, compared with a loss of $1.8 million in the year-earlier period.

The normalized profit margin rose to negative 0.7% from negative 4.8% in the year-earlier period.

Total revenue rose 25.2% on an annual basis to $47.7 million from $38.1 million, and total operating expenses climbed 17.6% year over year to $48.1 million from $40.9 million.

Reported net income totaled a loss of $514,000, or a loss of 6 cents per share, compared to a loss of $2.9 million, or a loss of 35 cents per share, in the prior-year period.