Company: CVCO
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0000278166-25-000007
Chunk: 39

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 we use in determining fair value.Mortgage Servicing. Mortgage Servicing Rights ("MSRs") are recorded at fair value in Prepaid expenses and other current assets on the Consolidated Balance Sheets.December 28,2024March 30,2024Number of loans serviced with MSRs3,693 3,842 Weighted average servicing fee (basis points)34.80 34.79 Capitalized servicing multiple186.29 %188.59 %Capitalized servicing rate (basis points)64.83 65.61 Serviced portfolio with MSRs (in thousands)$458,268 $482,898 MSRs (in thousands)$2,971 $3,168 

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17. Business Segment Information

We operate principally in two segments: (1) factory-built housing, which includes wholesale and retail factory-built housing operations, and (2) financial services, which includes manufactured housing consumer finance and insurance. The following table provides selected financial data by segment (in thousands):Three Months EndedNine Months EndedDecember 28,2024December 30,2023December 28,2024December 30,2023Net revenue:Factory-built housing$500,860 $426,939 $1,445,251 $1,318,114 Financial services21,180 19,830 61,849 56,560 $522,040 $446,769 $1,507,100 $1,374,674 Income (loss) before income taxes:Factory-built housing$63,150 $42,070 $168,155 $154,121 Financial services6,186 1,837 (8)2,124 $69,336 $43,907 $168,147 $156,245  December 28,2024March 30,2024Total assets:Factory-built housing$1,160,795 $1,141,237 Financial services224,972 212,923 $1,385,767 $1,354,160 

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

Statements in this Quarterly Report on Form 10-Q (the "Report") include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act