Cavco Industries, Inc. announced Unaudited consolidated financial results for the third quarter and first nine months ended December 29, 2012. Net sales for the third quarter of fiscal 2013 totaled $114.6 million, compared to $114.6 million for the third quarter of fiscal year 2012. Net income for the fiscal 2013 third quarter was $3.0 million, compared to $3.0 million reported in the same quarter one year ago. Net income attributable to Cavco stockholders for the fiscal 2013 third quarter was $1.5 million, compared to $1.7 million reported in the same quarter one year ago. Net income per share based on basic and diluted share was $0.21, versus basic and diluted net income per share for the quarter ended December 31, 2011, of $0.24. Income from operations was $6,268,000, income before taxes was $5,281,000 as compared to income from operations of $6,387,000, income before taxes of $4,784,000 for the same period prior year. Capital expenditures amounted to $177,000 as compared to $434,000 for the same period prior year.

For the first nine months of fiscal 2013, net sales totaled $343.5 million, versus $343.6 million for the comparable prior year period. Net income attributable to Cavco stockholders for the first nine months of fiscal 2013 was $3.6 million compared to $13.6 million last year. Net income per share based on basic and diluted share was $0.51, versus basic and diluted net income per share of $1.98 and $1.96, respectively, for the prior year period. Income from operations was $15,937,000, income before taxes was $12,480,000 as compared to income from operations of $12,197,000, income before taxes of $29,841,000 for the same period prior year. Capital expenditures amounted to $563,000 as compared to $2,273,000 for the same period prior year.

The company has changed to a 52-53 week fiscal year ending on the Saturday nearest to March 31 of each year in order to improve the alignment of financial and business processes and to streamline financial reporting. This change is effective with the end of Cavco's fiscal third quarter and nine months ended December 29, 2012, which is comparable to the fiscal third quarter and nine months ended December 31, 2011.