Cavco Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended April 3, 2021
May 25, 2021
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Cavco Industries, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended April 3, 2021. For the quarter, the company reported net revenue was $306,502,000 against $255,335,000 a year ago. Income from operations was $26,913,000 against $14,478,000 a year ago. Net income was $25,222,000 against $12,001,000 a year ago. Basic per share was $2.74 against $1.31 a year ago. Diluted per share was $2.71 against $1.29 a year ago.
For the full year, the company reported net revenue was $1,108,051,000 against $1,061,774,000 a year ago. Income from operations was $88,825,000 against $84,907,000 a year ago. Net income was $76,646,000 against $75,066,000 a year ago. Basic per share was $8.34 against $8.22 a year ago. Diluted per share was $8.25 against $8.1 a year ago.
Cavco Industries, Inc. designs and produces factory-built homes. Its segments include Factory-built Housing and Financial Services. The Factory-built Housing segment includes wholesale and retail factory-built housing operations. The Financial Services segment includes manufactured housing consumer finance and insurance. Its factory-built homes are distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. Its manufactured homes are marketed under a variety of brand names, including Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry and Solitaire. It is also a producer of park model recreational vehicle (RVs), vacation cabins and factory-built commercial structures, as well as modular homes. CountryPlace Acceptance Corp. is its finance subsidiary and Standard Casualty Co. (Standard Casualty) is its insurance subsidiary.