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Stock impact report

Cavco Industries Reports Fiscal 2018 Second Quarter Results

Cavco Industries, Inc. (CVCO) 
US:NASDAQ Investor Relations: investor.cavco.com
Company Research Source: GlobeNewswire
PHOENIX, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (NASDAQ:CVCO) today announced financial results for the second fiscal quarter ended September 30, 2017. On April 3, 2017, the Company completed the acquisition of Lexington Homes, Inc., which operates a manufactured housing plant in Lexington, Mississippi. Since the acquisition date, the results from this new business are included in Cavco's consolidated financial statements presented herein. Financial highlights include the following: Net revenue for the second quarter of fiscal year 2018 totaled $200.5 million, up 6.5% from $188.3 million for the second quarter of fiscal year 2017. Net revenue for the first six months of fiscal 2018 was $407.3 million, up 9.1% from $373.5 million for the comparable prior year period. The increase was from a larger proportion of higher priced homes sold and improved home sales volume.Income before income taxes was $8.5 million for the second quarter of fiscal year 2018, a 35.1% dec Show less Read more
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