Skyline Champion Shares Fall On Lower Q4 Earnings Below Street Estimates

(RTTNews) - 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.