Elkhart-based Skyline Corp. is reporting flat fiscal year net income, down from $1.7 million the previous year. The manufacturer says the yearly performance is partially the result of the closure of its manufacturing facilities in Elkhart and Mansfield, Texas.
The news wasn’t all bad for Skyline, which also reporting fiscal fourth quarter net income of $2.3 million, up from $1.3 million during the same quarter in 2016.
"We are pleased to have returned to profitability in the fourth quarter, but our operating and financial performance continued to be adversely impacted by the Elkhart and Mansfield facilities," said CEO Richard Florea. "With those closures behind us we are focusing our resources on driving profitable sales in our core business. We are encouraged by the overall demand for our products and manufactured housing in general."
The company initially detailed plans to suspend operations at the Texas facility in February and one month later announced the sale of the facility to Michigan-based Champion Home Builders Inc. in a $2.25 million deal. Skyline closed the Elkhart facility less than one year after it opened.