Shares of homebuilder Skyline Champion Corporation (SKY) are falling more than 8% Tuesday morning after the company reported fourth-quarter results below analysts' view.
Net income decreased to $57.75 million or $1.00 per share in the fourth quarter, from $86.8 million or $1.51 per share last year, impacted by decline in sales.
Sales for the quarter fell 23% to $491.53 million, primarily due to lower volumes.
Analysts on average, polled by Thomson-Reuters were expecting earnings of $0.93 per share on the revenue of$528.22 million for the quarter.
SKY currently at $58.75 has traded in the range of $43.04 - $76.82 in the last 1 year.
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