Skyline Champion (SKY) 10-Q 11 Oct 13 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Aug. 31, 2013	Oct. 11, 2013
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Aug-13
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Entity Registrant Name	SKYLINE CORP
Entity Central Index Key	90896
Current Fiscal Year End Date	-26
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,391,244

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Aug. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Current Assets:
Cash	$9,132	$11,838
Restricted cash	600	600
U.S. Treasury Bills, at cost plus accrued interest	7,000	4,000
Accounts receivable	12,993	13,472
Note receivable, current	47	47
Inventories	9,851	8,732
Workers' compensation security deposit	2,597	2,597
Other current assets	464	351
Total Current Assets	42,684	41,637
Note Receivable, non-current	1,619	1,631
Property, Plant and Equipment, at Cost:
Land	3,918	3,918
Buildings and improvements	40,485	40,960
Machinery and equipment	17,930	17,918
Property, Plant and Equipment gross	62,333	62,796
Less accumulated depreciation	47,392	47,355
Net operating property, plant and equipment	14,941	15,441
Idle property, net of accumulated depreciation	2,831	2,901
Net Property, Plant and Equipment	17,772	18,342
Other Assets:	6,326	6,317
Total Assets	68,401	67,927
Current Liabilities:
Accounts payable, trade	3,721	3,675
Accrued salaries and wages	2,343	2,624
Accrued marketing programs	3,413	1,965
Accrued warranty and related expenses	3,799	3,682
Other accrued liabilities	2,981	2,261
Total Current Liabilities	16,257	14,207
Other Deferred Liabilities	7,872	8,069
Commitments and Contingencies - See Note 8
Shareholders' Equity:
Common stock, $.0277 par value, 15,000,000 shares authorized; issued 11,217,144 shares	312	312
Additional paid-in capital	4,928	4,928
Retained earnings	104,776	106,155
Treasury stock, at cost, 2,825,900 shares	-65,744	-65,744
Total Shareholders' Equity	44,272	45,651
Total Liabilities and Shareholders' Equity	$68,401	$67,927

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Aug. 31, 2013	31-May-13
Statement Of Financial Position [Abstract]
Common stock, par value	$0.03	$0.03
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	11,217,144	11,217,144
Treasury stock, shares	2,825,900	2,825,900

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Retained Earnings (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2013	Aug. 31, 2012
OPERATIONS:
Net sales	$48,994	$49,920
Cost of sales	44,665	46,861
Gross profit	4,329	3,059
Selling and administrative expenses	5,733	6,530
Operating loss	-1,404	-3,471
Interest income	25	3
Loss before income taxes	-1,379	-3,468
Benefit from income taxes
Net loss	-1,379	-3,468
Basic loss per share	($0.16)	($0.41)
Weighted average number of common shares outstanding	8,391,244	8,391,244
RETAINED EARNINGS:
Balance at beginning of period	106,155	116,668
Net loss	-1,379	-3,468
Balance at end of period	$104,776	$113,200

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2013	Aug. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($1,379)	($3,468)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	490	544
Changes in assets and liabilities:
Accrued interest receivable	1	2
Accounts receivable	479	188
Inventories	-1,119	-1,391
Other current assets	-113	-1,048
Accounts payable, trade	46	964
Accrued liabilities	2,004	236
Other, net	-234	-30
Net cash provided by (used in) operating activities	175	-4,003
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from principal payments of U.S. Treasury Bills	6,999	14,995
Purchase of U.S. Treasury Bills	-10,000	-13,997
Proceeds from note receivable	12
Purchase of property, plant and equipment	-4	-15
Other, net	112	21
Net cash (used in) provided by investing activities	-2,881	1,004
Net decrease in cash	-2,706	-2,999
Cash at beginning of period	11,838	12,011
Cash at end of period	$9,132	$9,012

Nature_of_Operations_Accountin

Nature of Operations, Accounting Policies of Consolidated Financial Statements	3 Months Ended
	Aug. 31, 2013
Accounting Policies [Abstract]
Nature of Operations, Accounting Policies of Consolidated Financial Statements	NOTE 1	Nature of Operations, Accounting Policies of Consolidated Financial Statements
	The accompanying unaudited interim consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the consolidated financial position as of August 31, 2013, in addition to the consolidated results of operations and the consolidated cash flows for the three-month periods ended August 31, 2013 and 2012. Due to the seasonal nature of the Corporation’s business, interim results are not necessarily indicative of results for the entire year.
	The unaudited interim consolidated financial statements included herein have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures normally accompanying the annual consolidated financial statements have been omitted. The audited consolidated balance sheet as of May 31, 2013 and the unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Corporation’s latest annual report on Form 10-K.
	The following is a summary of the accounting policies that have a significant effect on the Consolidated Financial Statements.
	Investments — The Corporation invests in United States Government securities, which are typically held until maturity and are therefore classified as held-to-maturity and carried at amortized cost.
	Accounts Receivable — Trade receivables are based on the amounts billed to dealers and communities. The Corporation does not accrue interest on any of its trade receivables, nor does it have an allowance for credit losses due to favorable collections experience. If a loss occurs, the Corporation’s policy is to recognize it in the period when collectability cannot be reasonably assured.
	Inventories — Inventories are stated at the lower of cost or market. Cost is determined under the first-in, first-out method. Physical inventory counts are taken at the end of each reporting quarter.
	Workers’ Compensation Security Deposit — Deferred worker’s compensation deposit represents funds placed with the Corporation’s worker’s compensation insurance carrier to offset future medical claims and benefits.
	Note Receivable — The Corporation’s note receivable represents the amount owed for the sale of two idle recreational vehicle facilities in Hemet, California; less cash received on the date of closing and cash received from principal repayments through August 31, 2013. Interest is accrued on a monthly basis. No allowance for credit losses exists due to favorable collections experience. The Corporation’s management evaluates the credit quality of the note on a monthly basis. The Corporation’s policy is to recognize a loss in the period when collectability cannot be reasonably assured.
	Property, Plant and Equipment — Property, plant and equipment are stated at cost. Depreciation is computed over the estimated useful lives of the assets using the straight-line method for financial statement reporting and accelerated methods for income tax reporting purposes. Estimated useful lives for significant classes of property, plant and equipment, including idle property, are as follows: Building and improvements 10 to 30 years; machinery and equipment 5 to 8 years. Idle property, net of accumulated depreciation consisted of manufacturing facilities in the following locations: Ocala, Florida; Elkhart, Indiana; Halstead, Kansas and Fair Haven, Vermont.
	Long-lived assets are reviewed for impairment whenever events indicate that the carrying amount of an asset may not be recoverable from projected future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. The Company believes no impairment of long-lived assets exists at August 31, 2013.
	Warranty — The Corporation provides the retail purchaser of its homes with a full fifteen-month warranty against defects in design, materials and workmanship. Recreational vehicles are covered by a one-year warranty. The warranties are backed by service departments located at the Corporation’s manufacturing facilities and an extensive field service system. Estimated warranty costs are accrued at the time of sale based upon current sales, historical experience and management’s judgment regarding anticipated rates of warranty claims. The adequacy of the recorded warranty liability is periodically assessed and the amount is adjusted as necessary.
	Income Taxes — The Corporation recognizes deferred tax assets based on differences between the carrying values of assets for financial and tax reporting purposes. The realization of the deferred tax assets is dependent upon the generation of sufficient future taxable income. Generally accepted accounting principles require that an entity consider both negative and positive evidence in determining whether a valuation allowance is warranted. In comparing negative and positive evidence, continual losses in recent years is considered significant, negative, objective evidence that deferred tax assets may not be realized in the future, and generally is assigned more weight than subjective positive evidence of the realizability of deferred tax assets. As a result of its extensive evaluation of both positive and negative evidence, management maintains a full valuation allowance against its deferred tax assets. The Corporation reports a liability, if any, for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Corporation recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.
	Management’s Plan — Due to recurring losses, the Corporation is actively pursuing strategies to increase sales and decrease costs. These strategies include but are not limited to:
		•	Increasing efforts to increase sales of modular homes and park models in both the United States and Canada by cultivating relationships with modular housing developers and campground owners that are outside the Corporation’s historical distribution channels
		•	Improving the process of developing homes and recreational vehicles to better meet ever changing preferences of consumers
		•	Maintaining the number of display models at housing facilities in order to provide dealers, communities and consumers with examples of newly designed product
		•	Utilizing social media to improve product exposure to customers and to better connect dealers to potential customers
		•	Selling non-strategic assets to generate cash and eliminate carrying costs
		•	Working with current and potential vendors to decrease costs
		•	Analyzing staffing needs and making reductions when considered appropriate by management
	By implementing these strategies, and having a significant position of its working capital in cash and U.S. Treasury Bills, the Corporation’s management believes the Corporation will have sufficient liquidity to meet its obligations through the current operating cycle.

Restricted_Cash

Restricted Cash	3 Months Ended
	Aug. 31, 2013
Cash And Cash Equivalents [Abstract]
Restricted Cash	NOTE 2	Restricted Cash
	During fiscal 2013, the Corporation entered into an agreement to build and sell 60 manufactured homes to Stewart Homes, Inc., one of its dealers. Stewart Homes Inc. also entered into an agreement to sell these homes to Oakridge Family Homes, L.P., a California limited partnership. As a function of Oakridge Family Homes, L.P. purchasing the 60 homes, the Corporation pledged a $600,000 certificate of deposit as security for certain performances. The certificate of deposit will remain pledged until terms of the certificate of deposit proceeds and security agreement between the Corporation and Oakridge Family Homes, L.P. are completed, which is expected to occur by November 30, 2013. Based on the terms of the arrangement, the Corporation expects this cash will be available for unrestricted use within the current operating cycle and accordingly has classified this as a current asset.

Investments

Investments	3 Months Ended
	Aug. 31, 2013
Text Block [Abstract]
Investments	NOTE 3	Investments
	The following is a summary of investments:
			Gross		Gross		Fair
			Amortized		Unrealized		Value
			Costs		Gains
			(Dollars in thousands)
	31-Aug-13
	U. S. Treasury Bills		$	7,000	$	—	$	7,000
	31-May-13
	U. S. Treasury Bills		$	4,000	$	—	$	4,000
	The fair value is determined by a secondary market for U.S. Government Securities. At August 31 and May 31, 2013, the U.S. Treasury Bills matures within three months.

Inventories

Inventories	3 Months Ended
	Aug. 31, 2013
Inventory Disclosure [Abstract]
Inventories	NOTE 4	Inventories
	Total inventories consist of the following:
			August 31,		May 31,
			2013		2013
			(Dollars in thousands)
	Raw materials		$	5,616	$	5,104
	Work in process			2,818		2,863
	Finished goods			1,417		765
			$	9,851	$	8,732

Note_Receivable

Note Receivable	3 Months Ended
	Aug. 31, 2013
Receivables [Abstract]
Note Receivable	NOTE 5	Note Receivable
	During the second quarter of fiscal 2013, the Corporation sold two idle recreational vehicle facilities in Hemet, California. The sale of the facilities included a down payment of $500,000 and a promissory note of $1,700,000 to the Corporation. Selling expenses related to the sale, which were paid by the Corporation, were approximately $152,000. This resulted in net cash received from the transaction of approximately $348,000. The note bears an interest rate of 6 percent per annum, requires monthly payments following a 20 year amortization schedule, and provides for a final payment after 6 years. In addition, the two facilities are collateral for the note. The current and non-current balance of $1,666,000 represents the original amount of the note less principal payments received through August 31, 2013.

Warranty

Warranty	3 Months Ended
	Aug. 31, 2013
Guarantees [Abstract]
Warranty	NOTE 6	Warranty
	A reconciliation of accrued warranty and related expenses is as follows:
			Three-Months Ended
			August 31,
			2013			2012
			(Dollars in thousands)
	Balance at the beginning of the period		$	5,882		$	5,870
	Accruals for warranties			1,298			1,685
	Settlements made during the period			(1,181	)		(1,357	)
	Balance at the end of the period			5,999			6,198
	Non-current balance included in other deferred liabilities			2,200			2,000
	Accrued warranty and related expenses		$	3,799		$	4,198

Income_Taxes

Income Taxes	3 Months Ended
	Aug. 31, 2013
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 7	Income Taxes
	At August 31, 2013, the Corporation’s gross deferred tax assets of approximately $42 million consist of approximately $28 million in federal net operating loss and tax credit carryforwards, $7 million in state net operating loss carryforwards and $7 million resulting from temporary differences between financial and tax reporting. The federal net operating loss and tax credit carryforwards have a life expectancy of twenty years. The state net operating loss carryforwards have a life expectancy, depending on the state where a loss was incurred, between five and twenty years. The Corporation has recorded a full valuation allowance against this asset. If the Corporation, after considering future negative and positive evidence regarding the realization of deferred tax assets, determines that a lesser valuation allowance is warranted, it would record a reduction to income tax expense and the valuation allowance in the period of determination.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Aug. 31, 2013
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8	Commitments and Contingencies
	The Corporation was contingently liable at August 31 and May 31, 2013 under repurchase agreements with certain financial institutions providing inventory financing for dealers of its products. Under these arrangements, which are customary in the manufactured housing and recreational vehicle industries, the Corporation agrees to repurchase units in the event of default by the dealer at declining prices over the term of the agreement. The period to potentially repurchase units is between 12 to 24 months.
	The maximum repurchase liability is the total amount that would be paid upon the default of the Corporation’s independent dealers. The maximum potential repurchase liability, without reduction for the resale value of the repurchased units, was approximately $68 million at August 31, 2013 and approximately $71 million at May 31, 2013. As a result of favorable experience regarding repurchased units, which is largely due to the strength of dealers selling the Corporation’s products, the Corporation maintained at August 31 and May 31, 2013, a $100,000 loss reserve that is a component of other accrued liabilities.
	The risk of loss under these agreements is spread over many dealers and financial institutions. The loss, if any, under these agreements is the difference between the repurchase cost and the resale value of the units. The Corporation estimates the fair value of this commitment considering both the contingent losses and the value of the guarantee. This amount has historically been insignificant. The Corporation believes that any potential loss under the agreements in effect at August 31, 2013 will not be material to its financial position or results of operations. In addition, there were no obligations or net losses from repurchased units during the first quarter of fiscal 2014 and 2013.
	The Corporation is a party to various pending legal proceedings in the normal course of business. Management believes that any losses resulting from such proceedings would not have a material adverse effect on the Corporation’s results of operations or financial position.
	As referenced in Note 2, the Corporation pledged a $600,000 certificate of deposit as security for certain performances in providing 60 manufactured homes to Oakridge Family Homes, L.P. The certificate of deposit will remain pledged until terms of the certificate of deposit proceeds and security agreement between the Corporation and Oakridge Family Homes, L.P. are completed, which is expected to occur by November 30, 2013.

Industry_Segment_Information

Industry Segment Information	3 Months Ended
	Aug. 31, 2013
Segment Reporting [Abstract]
Industry Segment Information	NOTE 9	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 manufactured housing and recreational vehicle net sales is:
			Three-Months Ended
			August 31,
			2013			2012
	Domestic Manufactured Housing			61	%		46	%
	Modular Housing
	Domestic			10			12
	Canadian			3			4
				13			16
	Total Housing			74			62
	Recreational Vehicles
	Domestic			23			32
	Canadian			3			6
	Total Recreational Vehicles			26			38
				100	%		100	%
			Three-Months Ended
			August 31,
			2013			2012
			(Dollars in thousands)
	NET SALES
	Domestic Manufactured Housing		$	30,111		$	23,133
	Modular Housing
	Domestic			4,892			6,037
	Canadian			1,431			1,742
				6,323			7,779
	Total Housing			36,434			30,912
	Recreational Vehicles
	Domestic			11,127			15,933
	Canadian			1,433			3,075
	Total Recreational Vehicles			12,560			19,008
	Total Net sales		$	48,994		$	49,920
	LOSS BEFORE INCOME TAXES
	Operating Loss
	Housing		$	(580	)	$	(1,637	)
	Recreational vehicles			(490	)		(1,324	)
	General corporate expense			(334	)		(510	)
	Total operating loss			(1,404	)		(3,471	)
	Interest income			25			3
	Loss before income taxes		$	(1,379	)	$	(3,468	)
	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 sales. General corporate expenses are not allocated to the industry segments.

Subsequent_Event

Subsequent Event	3 Months Ended
	Aug. 31, 2013
Subsequent Events [Abstract]
Subsequent Event	NOTE 10	Subsequent Event
	Subsequent to August 31, 2013, the Corporation sold its idle manufactured housing facility located in Fair Haven, Vermont. The gain on this facility was approximately $150,000.

Nature_of_Operations_Accountin1

Nature of Operations, Accounting Policies of Consolidated Financial Statements (Policies)	3 Months Ended
	Aug. 31, 2013
Accounting Policies [Abstract]
Investments	Investments — The Corporation invests in United States Government securities, which are typically held until maturity and are therefore classified as held-to-maturity and carried at amortized cost.
Accounts Receivable	Accounts Receivable — Trade receivables are based on the amounts billed to dealers and communities. The Corporation does not accrue interest on any of its trade receivables, nor does it have an allowance for credit losses due to favorable collections experience. If a loss occurs, the Corporation’s policy is to recognize it in the period when collectability cannot be reasonably assured.
Inventories	Inventories — Inventories are stated at the lower of cost or market. Cost is determined under the first-in, first-out method. Physical inventory counts are taken at the end of each reporting quarter.
Workers' Compensation Security Deposit	Workers’ Compensation Security Deposit — Deferred worker’s compensation deposit represents funds placed with the Corporation’s worker’s compensation insurance carrier to offset future medical claims and benefits.
Note Receivable	Note Receivable — The Corporation’s note receivable represents the amount owed for the sale of two idle recreational vehicle facilities in Hemet, California; less cash received on the date of closing and cash received from principal repayments through August 31, 2013. Interest is accrued on a monthly basis. No allowance for credit losses exists due to favorable collections experience. The Corporation’s management evaluates the credit quality of the note on a monthly basis. The Corporation’s policy is to recognize a loss in the period when collectability cannot be reasonably assured.
Property, Plant and Equipment	Property, Plant and Equipment — Property, plant and equipment are stated at cost. Depreciation is computed over the estimated useful lives of the assets using the straight-line method for financial statement reporting and accelerated methods for income tax reporting purposes. Estimated useful lives for significant classes of property, plant and equipment, including idle property, are as follows: Building and improvements 10 to 30 years; machinery and equipment 5 to 8 years. Idle property, net of accumulated depreciation consisted of manufacturing facilities in the following locations: Ocala, Florida; Elkhart, Indiana; Halstead, Kansas and Fair Haven, Vermont.
	Long-lived assets are reviewed for impairment whenever events indicate that the carrying amount of an asset may not be recoverable from projected future cash flows. If the carrying value of a long-lived asset is impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. The Company believes no impairment of long-lived assets exists at August 31, 2013.
Warranty	Warranty — The Corporation provides the retail purchaser of its homes with a full fifteen-month warranty against defects in design, materials and workmanship. Recreational vehicles are covered by a one-year warranty. The warranties are backed by service departments located at the Corporation’s manufacturing facilities and an extensive field service system. Estimated warranty costs are accrued at the time of sale based upon current sales, historical experience and management’s judgment regarding anticipated rates of warranty claims. The adequacy of the recorded warranty liability is periodically assessed and the amount is adjusted as necessary.
Income Taxes	Income Taxes — The Corporation recognizes deferred tax assets based on differences between the carrying values of assets for financial and tax reporting purposes. The realization of the deferred tax assets is dependent upon the generation of sufficient future taxable income. Generally accepted accounting principles require that an entity consider both negative and positive evidence in determining whether a valuation allowance is warranted. In comparing negative and positive evidence, continual losses in recent years is considered significant, negative, objective evidence that deferred tax assets may not be realized in the future, and generally is assigned more weight than subjective positive evidence of the realizability of deferred tax assets. As a result of its extensive evaluation of both positive and negative evidence, management maintains a full valuation allowance against its deferred tax assets. The Corporation reports a liability, if any, for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Corporation recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.
Management's Plan	Management’s Plan — Due to recurring losses, the Corporation is actively pursuing strategies to increase sales and decrease costs. These strategies include but are not limited to:
		•	Increasing efforts to increase sales of modular homes and park models in both the United States and Canada by cultivating relationships with modular housing developers and campground owners that are outside the Corporation’s historical distribution channels
		•	Improving the process of developing homes and recreational vehicles to better meet ever changing preferences of consumers
		•	Maintaining the number of display models at housing facilities in order to provide dealers, communities and consumers with examples of newly designed product
		•	Utilizing social media to improve product exposure to customers and to better connect dealers to potential customers
		•	Selling non-strategic assets to generate cash and eliminate carrying costs
		•	Working with current and potential vendors to decrease costs
		•	Analyzing staffing needs and making reductions when considered appropriate by management
	By implementing these strategies, and having a significant position of its working capital in cash and U.S. Treasury Bills, the Corporation’s management believes the Corporation will have sufficient liquidity to meet its obligations through the current operating cycle.

Investments_Tables

Investments (Tables)	3 Months Ended
	Aug. 31, 2013
Text Block [Abstract]
Summary of Investments	The following is a summary of investments:
		Gross		Gross		Fair
		Amortized		Unrealized		Value
		Costs		Gains
		(Dollars in thousands)
	31-Aug-13
	U. S. Treasury Bills	$	7,000	$	—	$	7,000
	31-May-13
	U. S. Treasury Bills	$	4,000	$	—	$	4,000

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Aug. 31, 2013
Inventory Disclosure [Abstract]
Schedule of Inventories	Total inventories consist of the following:
		August 31,		May 31,
		2013		2013
		(Dollars in thousands)
	Raw materials	$	5,616	$	5,104
	Work in process		2,818		2,863
	Finished goods		1,417		765
		$	9,851	$	8,732

Warranty_Tables

Warranty (Tables)	3 Months Ended
	Aug. 31, 2013
Guarantees [Abstract]
Reconciliation of Accrued Warranty and Related Expenses	A reconciliation of accrued warranty and related expenses is as follows:
		Three-Months Ended
		August 31,
		2013			2012
		(Dollars in thousands)
	Balance at the beginning of the period	$	5,882		$	5,870
	Accruals for warranties		1,298			1,685
	Settlements made during the period		(1,181	)		(1,357	)
	Balance at the end of the period		5,999			6,198
	Non-current balance included in other deferred liabilities		2,200			2,000
	Accrued warranty and related expenses	$	3,799		$	4,198

Industry_Segment_Information_T

Industry Segment Information (Tables)	3 Months Ended
	Aug. 31, 2013
Segment Reporting [Abstract]
Percentage Allocation of Manufactured Housing and Recreational Vehicle Net Sales	The percentage allocation of manufactured housing and recreational vehicle net sales is:
		Three-Months Ended
		August 31,
		2013			2012
	Domestic Manufactured Housing		61	%		46	%
	Modular Housing
	Domestic		10			12
	Canadian		3			4
			13			16
	Total Housing		74			62
	Recreational Vehicles
	Domestic		23			32
	Canadian		3			6
	Total Recreational Vehicles		26			38
			100	%		100	%
		Three-Months Ended
		August 31,
		2013			2012
		(Dollars in thousands)
	NET SALES
	Domestic Manufactured Housing	$	30,111		$	23,133
	Modular Housing
	Domestic		4,892			6,037
	Canadian		1,431			1,742
			6,323			7,779
	Total Housing		36,434			30,912
	Recreational Vehicles
	Domestic		11,127			15,933
	Canadian		1,433			3,075
	Total Recreational Vehicles		12,560			19,008
	Total Net sales	$	48,994		$	49,920
	LOSS BEFORE INCOME TAXES
	Operating Loss
	Housing	$	(580	)	$	(1,637	)
	Recreational vehicles		(490	)		(1,324	)
	General corporate expense		(334	)		(510	)
	Total operating loss		(1,404	)		(3,471	)
	Interest income		25			3
	Loss before income taxes	$	(1,379	)	$	(3,468	)

Nature_of_Operations_Accountin2

Nature of Operations, Accounting Policies of Consolidated Financial Statements - Additional Information (Detail) (USD $)	3 Months Ended
	Aug. 31, 2013
	Vehicle
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of sale of idle recreational vehicle facilities	2
Allowance for credit losses of notes receivable	$0
Impairment of long - lived assets	$0
Home Sales [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Product warranty	15 months
Recreational Vehicles [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Product warranty	1 year
Building and Building Improvements [Member] | Minimum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	10 years
Building and Building Improvements [Member] | Maximum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	30 years
Other Machinery and Equipment [Member] | Minimum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	5 years
Other Machinery and Equipment [Member] | Maximum [Member]
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment	8 years

Restricted_Cash_Additional_Inf

Restricted Cash - Additional Information (Detail) (USD $)	Aug. 31, 2013
	Home
Restricted Cash and Cash Equivalents Items [Line Items]
Homes to be manufactured	60
Agreement to sell to second dealer	60
Certificate of Deposit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Security deposit	600,000

Investments_Summary_of_Investm

Investments - Summary of Investments (Detail) (USD $)	Aug. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Schedule of Held-to-maturity Securities [Line Items]
Gross Amortized Costs	$7,000	$4,000
U. S. Treasury Bills [Member]
Schedule of Held-to-maturity Securities [Line Items]
Gross Amortized Costs	7,000	4,000
Gross Unrealized Gains
Fair Value	$7,000	$4,000

Investments_Additional_Informa

Investments - Additional Information (Detail) (U. S. Treasury Bills [Member])	3 Months Ended	12 Months Ended
	Aug. 31, 2013	31-May-13
U. S. Treasury Bills [Member]
Schedule of Held-to-maturity Securities [Line Items]
Investment maturity period	3 months	3 months

Inventories_Schedule_of_Invent

Inventories - Schedule of Inventories (Detail) (USD $)	Aug. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Raw materials	$5,616	$5,104
Work in process	2,818	2,863
Finished goods	1,417	765
Total inventories	$9,851	$8,732

Note_Receivable_Additional_Inf

Note Receivable - Additional Information (Detail) (USD $)	3 Months Ended
	Nov. 30, 2012	Aug. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Selling expenses paid for sale of idle property, plant and equipment	$152,000
Note receivable interest rate	6.00%
Note receivable interest amortization period	20 years
Note receivable final payment period	6 years
Note receivables less principal payments received		1,666,000
Recreational Vehicles [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of idle facilities sold	2
Down payment received for sale of idle property, plant and equipment	500,000
Note receivable from sale of idle property, plant and equipment	1,700,000
Cash received for facilities sold	$348,000
Facilities collateral for note	2

Warranty_Reconciliation_of_Acc

Warranty - Reconciliation of Accrued Warranty and Related Expenses (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2013	Aug. 31, 2012	31-May-13
Guarantees [Abstract]
Balance at the beginning of the period	$5,882	$5,870
Accruals for warranties	1,298	1,685
Settlements made during the period	-1,181	-1,357
Balance at the end of the period	5,999	6,198
Non-current balance included in other deferred liabilities	2,200	2,000
Accrued warranty and related expenses	$3,799	$4,198	$3,682

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2013
Income Tax Disclosure [Abstract]
Deferred tax assets	$42
Federal net operating loss and tax credit carryforwards	28
State net operating loss carryforwards	7
Differences between financial and tax reporting	$7
Federal net operating loss and tax credit carryforwards life expectancy	20 years
State net operating loss carryforwards life expectancy, minimum	5 years
State net operating loss carryforwards life expectancy, maximum	20 years

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended			3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	31-May-13	Aug. 31, 2013	31-May-13	Aug. 31, 2013	31-May-13	Aug. 31, 2013
		Home		Minimum [Member]	Minimum [Member]	Maximum [Member]	Maximum [Member]	Certificate of Deposit [Member]
Loss Contingencies [Line Items]
Period to potentially repurchase units				12 months	12 months	24 months	24 months
Maximum potential repurchase liability		$68,000,000	$71,000,000
Other accrued liabilities		100,000	100,000
Obligations from repurchased units	0	0
Net losses from repurchased units	0	0
Certificate of deposit pledged								$600,000
Number of homes to be manufactured and sold		60

Industry_Segment_Information_P

Industry Segment Information - Percentage Allocation of Manufactured Housing and Recreational Vehicle Net Sales (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2013	Aug. 31, 2012
Segment Reporting Information [Line Items]
Net sales in percentage	100.00%	100.00%
Net sales
Net sales	$48,994	$49,920
Operating Loss
Total operating loss	-1,404	-3,471
Interest income	25	3
Loss before income taxes	-1,379	-3,468
Housing [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	74.00%	62.00%
Net sales
Net sales	36,434	30,912
Operating Loss
Total operating loss	-580	-1,637
Housing [Member] | Modular Housing [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	13.00%	16.00%
Net sales
Net sales	6,323	7,779
Housing [Member] | Domestic [Member] | Manufactured Housing [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	61.00%	46.00%
Net sales
Net sales	30,111	23,133
Housing [Member] | Domestic [Member] | Modular Housing [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	10.00%	12.00%
Net sales
Net sales	4,892	6,037
Housing [Member] | Canadian [Member] | Modular Housing [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	3.00%	4.00%
Net sales
Net sales	1,431	1,742
Recreational Vehicles [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	26.00%	38.00%
Net sales
Net sales	12,560	19,008
Operating Loss
Total operating loss	-490	-1,324
Recreational Vehicles [Member] | Domestic [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	23.00%	32.00%
Net sales
Net sales	11,127	15,933
Recreational Vehicles [Member] | Canadian [Member]
Segment Reporting Information [Line Items]
Net sales in percentage	3.00%	6.00%
Net sales
Net sales	1,433	3,075
General Corporate Expense [Member]
Operating Loss
Total operating loss	($334)	($510)

Subsequent_Event_Additional_In

Subsequent Event - Additional Information (Detail) (Subsequent Event [Member], Fair Haven, Vermont [Member], Manufactured Housing Facility [Member], USD $)	3 Months Ended
	Aug. 31, 2013
Subsequent Event [Member] | Fair Haven, Vermont [Member] | Manufactured Housing Facility [Member]
Subsequent Event [Line Items]
Gain on the sale of idle facilities	$150,000