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Skyline fiscal Q1 loss widens YOY

Skyline Corp. said its normalized net income for the fiscal first quarter ended Aug. 31 came to a loss of 28 cents per share, compared with a loss of 7 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 $2.4 million, compared with a loss of $618,750 in the prior-year period.

The normalized profit margin rose to negative 1.5% from negative 1.6% in the year-earlier period.

Total revenue increased 52.5% year over year to $57.4 million from $37.7 million, and total operating expenses climbed 58.1% from the prior-year period to $61.1 million from $38.7 million.

Reported net income came to a loss of $3.8 million, or a loss of 45 cents per share, compared to a loss of $990,000, or a loss of 12 cents per share, in the year-earlier period.