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Skyline fiscal Q3 loss narrows YOY

Skyline Corp. said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to a loss of 22 cents per share, compared with a loss of 31 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.8 million, compared with a loss of $2.6 million in the prior-year period.

The normalized profit margin rose to negative 4.8% from negative 8.7% in the year-earlier period.

Total revenue climbed 26.3% year over year to $38.1 million from $30.2 million, and total operating expenses increased 19.0% on an annual basis to $40.9 million from $34.4 million.

Reported net income totaled a loss of $2.9 million, or a loss of 35 cents per share, compared to a loss of $3.9 million, or a loss of 47 cents per share, in the year-earlier period.