Financials for the second quarter of 2016 for Cavco Industries, Inc. (NASDAQ:CVCO) ending Sept. 26, 2015 indicate net revenue hit $192 million, an increase of 37.8 percent over the $139.3 million for the same period of 2015, as globenewswire reports. Cavco attributes the increase to the operations of two manufactured home builders –Chariot Eagle and Fairmont Homes—the company acquired during Q1 of FY 2016.

Income before taxes was $12.5 million for Q2 2016, an increase of $3.8 million over the $8.7 million for the comparable quarter last year. Net income rose from $5.5 million in the second quarter of 2015 to $8.1 million for Q2 2016.

Net income per share for Q2 2016 based on diluted shares rose from $0.61 in the comparable quarter last year to $0.89 this year.

Joseph Stegmayer, Chairman, President and CEO said, “The integrations of the recently purchased Fairmont Homes and Chariot Eagle operations are progressing as expected. The newly acquired operations are producing affordable housing solutions complementary to Cavco’s growing home product lineup while expanding our geographic footprint.”

The management of Cavco will sponsor a conference call, Fri., Oct. 30, 2015 at 1 PM EDT to discuss the results.

MHProNews knows Cavco is one of the largest producers of manufactured homes as well as other offsite-built housing and buildings in the U. S. ##

(Image credit: Cavco Industries, Inc.)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.