The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu Nov 10, 2016
Phoenix, Ariz. – Cavco Industries has reported a drop in net revenue for the second fiscal quarter ending October 1, accompanied by a pre-tax income increase of nearly 5 percent.
Net revenue for the period totaled $188.3 million, down 1.9% from $192.0 million for the same period of the previous fiscal year. The decrease is due to a decline in quarterly home sales of approximately one percent, according to the company.
Net revenue for the first six months was $373.5 million, up 5.6 percent from $353.6 million for the comparable prior year period, primarily from 7.6 pecent higher sales volume. The period also contains an additional month of Fairmont Homes operations versus the prior year, as Fairmont Homes was purchased by the company on May 1, 2015.
Income before income taxes was $13.1 million for the second quarter, 4.8 percent increase from $12.5 million in the comparable quarter last year. For the first six months of fiscal 2017, income before income taxes increased 1.9% to $21.5 million compared to income before income taxes of $21.1 million for the comparable period in the prior year.
The increase was primarily from improved operating leverage from home sales volume, partially offset for the six-month period by high claims volume at the company's insurance subsidiary generated by multiple unusually severe storms in Texas during the first quarter of this fiscal year.
"We are pleased to report improved profitability this quarter while still operating in a highly competitive housing market,” says Joseph Stegmayer, Chairman, President and Chief Executive Officer said. “We remain encouraged by the continued housing recovery and our solid backlogs. Interest from manufactured home retailers, developers and community operators for our product offerings remains strong heading into the winter season."