SKYLINE CORP | 2013 | FY | 3


NOTE 15   Industry Segment Information

The Corporation designs, produces and markets manufactured housing, modular housing and recreational vehicles (travel trailers, fifth wheels and park models). Manufactured housing represents homes built according to a national building code; modular housing represents homes built to a local building code. The percentage allocation of housing and recreational vehicle net sales is:

 

                 
    Year Ended
May 31,
 
    2013     2012  

Domestic Manufactured Housing

    49     48

Modular Housing

               

Domestic

    11       9  

Canadian

    3       3  
   

 

 

   

 

 

 
      14       12  
   

 

 

   

 

 

 

Total Housing

    63       60  

Recreational Vehicles

               

Domestic

    30       30  

Canadian

    7       10  
   

 

 

   

 

 

 

Total Recreational Vehicles

    37       40  
   

 

 

   

 

 

 
      100     100
   

 

 

   

 

 

 

Total operating loss represents operating losses before interest income and benefit from income taxes with non-traceable operating expenses being allocated to industry segments based on percentages of net sales. General corporate expenses are not allocated to the industry segments.

 

Identifiable assets, depreciation and capital expenditures, by industry segment, are those items that are used in operations in each industry segment, with jointly used items being allocated based on a percentage of net sales.

 

                 
    Year Ended May 31,  
    2013     2012  
    (Dollars in thousands)  

NET SALES

               

Domestic Manufactured Housing

  $ 87,380     $ 87,487  

Modular Housing

               

Domestic

    18,562       15,852  

Canadian

    5,162       5,818  
   

 

 

   

 

 

 
      23,724       21,670  
   

 

 

   

 

 

 

Total Housing

    111,104       109,157  
     

Recreational Vehicles

               

Domestic

    53,267       55,003  

Canadian

    13,203       18,686  
   

 

 

   

 

 

 

Total Recreational Vehicles

    66,470       73,689  
   

 

 

   

 

 

 

Total Net sales

  $ 177,574     $ 182,846  
   

 

 

   

 

 

 
     

LOSS BEFORE INCOME TAXES

               

Operating Loss

               

Housing

  $ (6,867   $ (13,440

Recreational vehicles

    (3,444     (6,808

General corporate expense

    (1,907     (2,318

Gain on sale of idle property, plant and equipment

    1,641       3,184  
   

 

 

   

 

 

 

Total operating loss

    (10,577     (19,382

Interest income

    64       17  
   

 

 

   

 

 

 

Loss before income taxes

  $ (10,513   $ (19,365
   

 

 

   

 

 

 
     

IDENTIFIABLE ASSETS

               

Operating assets

               

Housing

  $ 45,072     $ 40,985  

Recreational vehicles

    18,855       20,873  
   

 

 

   

 

 

 

Total operating assets

    63,927       61,858  

U.S. Treasury bills

    4,000       16,998  
   

 

 

   

 

 

 

Total assets

  $ 67,927     $ 78,856  
   

 

 

   

 

 

 

DEPRECIATION

               

Housing

  $ 1,490     $ 1,762  

Recreational vehicles

    512       597  
   

 

 

   

 

 

 

Total depreciation

  $ 2,002     $ 2,359  
   

 

 

   

 

 

 
     

CAPITAL EXPENDITURES

               

Housing

  $ 48     $ 450  

Recreational vehicles

    27       164  
   

 

 

   

 

 

 

Total capital expenditures

  $ 75     $ 614  
   

 

 

   

 

 

 

 


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