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Stock impact report

Cavco Industries Reports Fiscal 2020 Fourth Quarter and Year End Results

Cavco Industries, Inc. (CVCO) 
US:NASDAQ Investor Relations: investor.cavco.com
Company Research Source: GlobeNewswire
PHOENIX, May 26, 2020 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) today announced financial results for the fourth quarter and fiscal year ended March 28, 2020. As previously reported, on August 2, 2019, the Company completed the acquisition of Destiny Homes, which operates a manufactured and modular housing factory in Moultrie, Georgia. The results from this acquired operation since the acquisition date are included in the consolidated financial statements presented herein. Three months ended March 28, 2020 compared to the three months ended March 30, 2019 Net revenue was $255.3 million, up 5.9% from $241.1 million in the prior year period. The increase was from improved home sales volume, including homes sold from the new Destiny acquisition, changes in product mix and higher home selling prices compared to the prior year.Income before income taxes was $13.6 million, a 47.9% decrease from $26.1 million in the prior year period. In the factory-built housing segm Show less Read more
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