Cavco Industries, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 27, 2014. The company's net revenue for the third quarter of fiscal year 2015 was $146.9 million, up 6.2% from $138.3 million for the third quarter of fiscal year 2014. Net income attributable to Cavco stockholders was $6.6 million for the third quarter of fiscal year 2015, compared to $5.9 million reported in the same quarter of the prior year. Net income per share attributable to Cavco stockholders for the third quarter of fiscal 2015, based on basic and diluted weighted average shares outstanding was $0.75 and $0.74, respectively, versus $0.67 and $0.66, respectively, for the prior year third fiscal quarter. For the quarter, the company reported income from operations was $9.804 million against $9.550 million a year ago. Income before income taxes was $10.6 million for the 2015 third fiscal quarter, a $2.1 million increase over $8.5 million reported in last year's third fiscal quarter. Included in this quarter's results was a $1.3 million net gain on the sale of idle properties recorded in other income, net. Capital expenditures were $746,000 against $839,000 a year ago.

For the first nine months of fiscal 2015, net revenue was $425.4 million, up 5.8% from $402.1 million for the comparable prior year period. Net income attributable to Cavco stockholders was $17.9 million, compared to $12.0 million during the first nine months of the last fiscal year. Results for the first nine months of the prior fiscal year include a deduction of $2.5 million from net income attributable to redeemable non-controlling interest, which was eliminated beginning in July 2013 in relation to the buyout of all redeemable non-controlling interest, as previously reported. Net income per share attributable to Cavco stockholders for the nine months ended December 27, 2014, based on basic and diluted weighted average shares outstanding was $2.02 and $1.98, respectively, versus $1.49 and $1.47, respectively, for the prior year nine month period. Income from operations was $28.641 million against $24.270 million a year ago. Income before income taxes increased $6.9 million to $28.2 million versus $21.3 million during the same period last year. Capital expenditures were $1,034,000 against $1,929,000 million a year ago.