Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - NOBILITY HOMES INC | nobilityhomes-8k03172015.htm |
| EX-99.1 - PRESS RELEASE - NOBILITY HOMES INC | nobilityhomes_ex99-1.htm |
|
NOBILITY HOMES, INC.
|
||||||||||
|
Consolidated Balance Sheets
|
||||||||||
|
January 31,
|
November 1,
|
|||||||||
|
2015
|
2014
|
|||||||||
|
(Unaudited)
|
||||||||||
|
Assets
|
||||||||||
|
Current assets:
|
||||||||||
|
Cash and cash equivalents
|
$ 14,730,850
|
$ 14,116,412
|
||||||||
|
Short-term investments
|
425,459
|
496,444
|
||||||||
|
Accounts receivable - trade
|
1,260,874
|
2,141,468
|
||||||||
|
Mortgage notes receivable, current
|
7,832
|
7,126
|
||||||||
|
Income tax receivable
|
4,757
|
5,964
|
||||||||
|
Inventories
|
5,604,695
|
5,516,540
|
||||||||
|
Pre-owned homes, current
|
2,401,834
|
2,839,203
|
||||||||
|
Prepaid expenses and other current assets
|
674,795
|
286,990
|
||||||||
|
Deferred income taxes
|
531,826
|
508,633
|
||||||||
|
Total current assets
|
25,642,922
|
25,918,780
|
||||||||
|
Property, plant and equipment, net
|
3,954,558
|
3,957,071
|
||||||||
|
Pre-owned homes
|
2,275,696
|
1,711,000
|
||||||||
|
Mortgage notes receivable, long term
|
180,031
|
180,800
|
||||||||
|
Other investments
|
2,779,548
|
2,751,663
|
||||||||
|
Deferred income taxes
|
1,464,174
|
1,487,367
|
||||||||
|
Other assets
|
2,952,924
|
2,921,424
|
||||||||
|
Total assets
|
$ 39,249,853
|
$ 38,928,105
|
||||||||
|
Liabilities and Stockholders' Equity
|
||||||||||
|
Current liabilities:
|
||||||||||
|
Accounts payable
|
$ 405,079
|
$ 502,259
|
||||||||
|
Accrued compensation
|
307,843
|
320,502
|
||||||||
|
Accrued expenses and other current liabilities
|
644,135
|
526,296
|
||||||||
|
Customer deposits
|
957,462
|
1,029,088
|
||||||||
|
Total current liabilities
|
2,314,519
|
2,378,145
|
||||||||
|
Commitments and contingent liabilities
|
||||||||||
|
Stockholders' equity:
|
||||||||||
|
Preferred stock, $.10 par value, 500,000 shares
|
||||||||||
|
authorized; none issued and outstanding
|
-
|
-
|
||||||||
|
Common stock, $.10 par value, 10,000,000
|
||||||||||
|
shares authorized; 5,364,907 shares issued
|
536,491
|
536,491
|
||||||||
|
Additional paid in capital
|
10,646,157
|
10,643,866
|
||||||||
|
Retained earnings
|
35,057,470
|
34,577,682
|
||||||||
|
Accumulated other comprehensive income
|
210,605
|
281,590
|
||||||||
|
Less treasury stock at cost, 1,303,038 shares in 2015 and
|
||||||||||
|
1,301,038 shares in 2014
|
(9,515,389)
|
(9,489,669)
|
||||||||
|
Total stockholders' equity
|
36,935,334
|
36,549,960
|
||||||||
|
Total liabilities and stockholders' equity
|
$ 39,249,853
|
$ 38,928,105
|
||||||||
|
NOBILITY HOMES, INC.
|
||||||||||
|
Consolidated Statements of Comprehensive Income
|
||||||||||
|
(Unaudited)
|
||||||||||
|
Three Months Ended
|
||||||||||
|
January 31,
|
February 1,
|
|||||||||
|
2015
|
2014
|
|||||||||
|
Net sales
|
$ 5,576,800
|
$ 4,137,438
|
||||||||
|
Cost of goods sold
|
(4,404,031)
|
(3,391,908)
|
||||||||
|
Gross profit
|
1,172,769
|
745,530
|
||||||||
|
Selling, general and administrative expenses
|
(747,949)
|
(661,344)
|
||||||||
|
Operating income
|
424,820
|
84,186
|
||||||||
|
Other income (loss):
|
||||||||||
|
Interest income
|
13,120
|
9,832
|
||||||||
|
Undistributed earnings in joint venture - Majestic 21
|
33,578
|
32,331
|
||||||||
|
Losses from investments in retirement
|
||||||||||
|
community limited partnerships
|
(5,693)
|
(39,401)
|
||||||||
|
Miscellaneous
|
15,170
|
16,454
|
||||||||
|
Total other income
|
56,175
|
19,216
|
||||||||
|
Income before provision for income taxes
|
480,995
|
103,402
|
||||||||
|
Income tax expense
|
(1,207)
|
-
|
||||||||
|
Net income
|
479,788
|
103,402
|
||||||||
|
Other comprehensive income (loss)
|
||||||||||
|
Unrealized investment gain (loss)
|
(70,985)
|
17,943
|
||||||||
|
Comprehensive income
|
$ 408,803
|
$ 121,345
|
||||||||
|
Weighed average number of shares outstanding:
|
||||||||||
|
Basic
|
4,063,913
|
4,057,994
|
||||||||
|
Diluted
|
4,064,254
|
4,059,316
|
||||||||
|
Net income per share:
|
||||||||||
|
Basic
|
$ 0.12
|
$ 0.03
|
||||||||
|
Diluted
|
$ 0.12
|
$ 0.03
|
||||||||