Skyline Champion (SKY) 8-K Skyline Reports Fourth Quarter, Year-end Results

Exhibit 99.1

NEWS RELEASE

Skyline Corporation
2520 By-Pass Road
P.O. Box 743
Elkhart, Indiana 46515-0743
(574) 294-6521

Subject: FOURTH QUARTER AND YEAR END Approved by: JON S. PILARSKI

ELKHART, INDIANA — JULY 24, 2009

SKYLINE REPORTS FOURTH QUARTER, YEAR-END RESULTS

Sales for the fourth quarter of Skyline Corporation’s 2009 fiscal year were $32,483,000 compared to $70,859,000 last year. Sales for fiscal 2009 were $166,676,000 compared to $301,765,000 of a year earlier.

Net loss for the fourth quarter of fiscal 2009 was $2,365,000, equal to $0.28 per share, compared to net earnings of $191,000, or $0.02 per share, for the same period a year ago. Net loss for fiscal 2009 was $15,434,000, or $1.84 per share, compared to a net loss of $5,556,000, or $0.66 per share, for fiscal 2008. Net loss per share for fiscal 2009 and fiscal 2008 includes a gain on the sale of idle property, plant and equipment of $0.25 and $0.05, respectively.

Sales for Skyline’s manufactured housing group for fiscal 2009 were $123,930,000 compared to $214,794,000 of fiscal 2008. The group’s sales for the fiscal 2009 fourth quarter totaled $22,578,000 compared to $45,439,000 of the comparable period of fiscal 2008.

For Skyline’s RV group, sales for fiscal 2009 were $42,746,000 compared to $86,971,000 of fiscal 2008. The RV group’s sales for fiscal 2009’s fourth quarter were $9,905,000 compared to $25,420,000 of the fourth quarter of fiscal 2008.

Skyline continues to maintain its traditionally strong balance sheet with no bank debt and a healthy position in cash and U.S. Treasury Bills. This financial strength, along with a seasoned management team, should help the company meet the challenges ahead.

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Bringing America Home. Bringing America Fun.

SKYLINE CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(Dollars in thousands, except share and per share data)

	(Unaudited)
	Three Months Ended						Year Ended
	May 31,						May 31,
	2009			2008			2009			2008
Sales	$	32,483		$	70,859		$	166,676		$	301,765
(Loss) before income taxes		(4,332	)		(325	)		(24,994	)		(9,138	)
Benefit for income taxes		(1,967	)		(516	)		(9,560	)		(3,582	)
Net (loss) earnings	$	(2,365	)	$	191		$	(15,434	)	$	(5,556	)
Basic (loss) earnings per share	$	(.28	)	$	.02		$	(1.84	) (A)	$	(.66	) (A)
Number of weighted average common shares outstanding		8,391,244			8,391,244			8,391,244			8,391,244

(A) Includes an after-tax gain on sale of idle property, plant and equipment of $.25 per share in 2009, and $.05 per share in 2008.

SKYLINE CORPORATION AND SUBSIDIARY COMPANIES
CONSOLIDATED CONDENSED BALANCE SHEETS

(Dollars in thousands)

	May 31,
	2009			2008
ASSETS
Cash and temporary investments	$	94,786		$	111,579
Accounts receivable		6,443			18,244
Inventories		6,502			10,150
Other current assets		12,028			14,234
Total Current Assets		119,759			154,207
Property, Plant and Equipment, net		30,598			32,535
Noncurrent Deferred Tax Assets		11,851			4,044
Other Assets		5,911			6,213
Total Assets	$	168,119		$	196,999
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable, trade	$	1,853		$	3,967
Accrued liabilities		13,532			17,646
Total Current Liabilities		15,385			21,613
Other Deferred Liabilities		7,992			9,168
Common stock		312			312
Additional paid-in capital		4,928			4,928
Retained earnings		205,246			226,722
Treasury stock, at cost		(65,744	)		(65,744	)
Total Shareholders’ Equity		144,742			166,218
Total Liabilities and Shareholders’ Equity	$	168,119		$	196,999