We employ a concerted effort to identify niche market opportunities where our diverse product lines and custom building capabilities provide us with a competitive advantage. We are focused on building quality, energy efficient homes for the modern home buyer. Our green building initiatives involve the creation of an energy efficient envelope, including higher utilization of renewable materials and provide lower utility costs. We also build homes designed to use alternative energy sources, such as solar.

Net factory-built housing revenue per home sold $ 107,108 $ 84,401 $ 22,707

Selling, General and Administrative Expenses

As a percentage of Net revenue, Selling, general and administrative expenses improved 120 basis points from better utilization of fixed costs on higher sales.

Other Components of Net Income

Interest expense consists primarily of interest related to finance leases.

The following is a summary of the Company's cash flows for the three months ended July 2, 2022 and July 3, 2021, respectively:

Net cash used in financing activities for the current period was primarily for the repurchase of common stock.

See Note 14 to the Consolidated Financial Statements for a discussion of our off-balance sheet commitments, which discussion is incorporated herein by reference.

Obligations and Commitments. There were no material changes to the obligations and commitments as set forth in our Annual Report on Form 10-K.

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