Skyline Champion (SKY) 8-K Skyline Reports Results for First Quarter

Exhibit 99.1

	NEWS RELEASE
	Skyline Corporation
	2520 By-Pass Road
	P.O. Box 743
	Elkhart, Indiana 46515-0743
	(574) 294-6521
Subject:     FIRST QUARTER REPORT	Approved by:     JON S. PILARSKI

ELKHART, INDIANA — OCTOBER 15, 2014

SKYLINE REPORTS RESULTS FOR FIRST QUARTER

Skyline’s net sales for the first quarter of fiscal year 2015 were $57,429,000 as compared to $48,994,000 in the first quarter of fiscal 2014.

Net sales for Skyline’s housing segment were $47,740,000 in the first quarter of fiscal 2015 as compared to $36,434,000 in the first quarter of fiscal 2014.

Net sales for Skyline’s recreational vehicle segment were $9,689,000 in fiscal 2015’s first quarter as compared to $12,560,000 in the first quarter of fiscal 2014.

Skyline reported a net loss of $3,773,000 in the first quarter of fiscal 2015 as compared to net loss of $1,379,000 in the first quarter of fiscal 2014. On a per share basis, net loss was $.45 as compared to net loss of $.16 for the same period a year ago.

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BRINGING AMERICA HOME. BRINGING AMERICA FUN.

SKYLINE CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

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

	Three Months Ended
	August 31, (Unaudited)
	2014			2013
Net sales	$	57,429		$	48,994
Loss before income taxes		(3,773	)		(1,379	)
Benefit from income taxes		—			—
Net loss	$	(3,773	)	$	(1,379	)
Basic loss per share	$	(.45	)	$	(.16	)
Number of weighted average common shares outstanding		8,391,244			8,391,244

SKYLINE CORPORATION AND SUBSIDIARY COMPANIES

CONSOLIDATED CONDENSED BALANCE SHEETS

(Dollars in thousands)

	August 31, (Unaudited)
	2014			2013
ASSETS
Cash, restricted cash and temporary cash investments	$	2,995		$	16,732
Accounts receivable		17,172			12,993
Note receivable, current		50			47
Inventories		12,952			9,851
Workers’ compensation security deposit		2,688			2,597
Other current assets		897			464
Total Current Assets		36,754			42,684
Note receivable, long-term		1,568			1,619
Property, Plant and Equipment, net		15,580			17,772
Other Assets		6,560			6,326
Total Assets	$	60,462		$	68,401
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable, trade	$	3,856		$	3,721
Accrued liabilities		12,937			12,536
Total Current Liabilities		16,793			16,257
Long-Term Liabilities		13,655			7,872
Common stock		312			312
Additional paid-in capital		4,928			4,928
Retained earnings		90,518			104,776
Treasury stock, at cost		(65,744	)		(65,744	)
Total Shareholders’ Equity		30,014			44,272
Total Liabilities and Shareholders’ Equity	$	60,462		$	68,401