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Stock impact report

Cavco Industries Reports Fiscal 2020 Third Quarter Results

Cavco Industries, Inc. (CVCO) 
US:NASDAQ Investor Relations: investor.cavco.com
Company Research Source: GlobeNewswire
PHOENIX, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) today announced financial results for the third fiscal quarter ended December 28, 2019. 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. Financial highlights include the following: Net revenue for the third quarter of fiscal year 2020 was $273.7 million, up 17.1% from $233.7 million for the third quarter of fiscal year 2019. 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. Net revenue for the first nine months of fiscal 2020 was $806.4 million, an 11.8% increase from $721.6 million in the comparable prior year period. Incom Show less Read more
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