278166--5/22/2007--CAVCO_INDUSTRIES

related topics

{condition, economic, financial}

{capital, credit, financial}

{tax, income, asset}

{customer, product, revenue}

{personnel, key, retain}

{competitive, industry, competition}

{cost, regulation, environmental}

{loan, real, estate}

Housing demand and geographic concentration A write-off of all or part of our goodwill could adversely affect our operating results and net worth The cyclical and seasonal nature of the manufactured housing industry causes our revenues and operating results to fluctuate, and we expect this cyclicality and seasonality to continue in the future Our liquidity and ability to raise capital may be limited Tightened credit standards and curtailed lending activity by home-only lenders have contributed to a constrained consumer financing market The availability of wholesale financing for industry retailers is limited due to a reduced number of floor plan lenders and reduced lending limits We have contingent repurchase obligations related to wholesale financing provided to industry retailers The manufactured housing industry is highly competitive, and competition may increase the adverse effects of industry conditions If we are unable to establish or maintain relationships with independent retailers who sell our homes, our sales could decline Our results of operations can be adversely affected by labor shortages and the pricing and availability of raw materials If the manufactured housing industry is not able to secure favorable local zoning ordinances, our sales could decline and our business could be adversely affected The loss of any of our executive officers could reduce our ability to execute our business strategy and could have a material adverse effect on our business and results of operations We could be responsible for certain tax liabilities if the Internal Revenue Service challenges the tax-free nature of the distribution

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278166--5/22/2007--CAVCO_INDUSTRIES_INC