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Nobility Homes, Inc. reports recurring sales and earnings updates for its manufactured and modular home business in Florida. The company designs and produces affordable manufactured housing, operates multiple retail sales centers in Florida, and has an insurance agency subsidiary as part of its vertically integrated model.
Company news typically covers quarterly and annual revenue, operating income, net income, earnings per share, liquidity, debt levels, book value, Florida manufactured-housing demand, stock repurchase authorizations, and cash dividends.
Nobility Homes reported an 8% increase in fiscal year 2021 sales, reaching $45.0 million, while net income fell to $5.4 million from $6.0 million in 2020. Diluted earnings per share dropped to $1.50 from $1.64. The fourth quarter saw sales decrease to $9.5 million, with net income at $1.6 million compared to $1.9 million the previous year. Despite challenges in production and supply chain disruptions due to COVID-19, the company maintains a strong financial position with $38.8 million in cash and no debt, indicating potential for future growth.
Nobility Homes (OTCQX: NOBH) reported an 8% increase in sales for the fiscal year 2021, totaling $45.0 million, up from $41.6 million in 2020. However, operating income declined to $6.1 million from $7.1 million, and net income fell to $5.4 million from $6.0 million. Diluted earnings per share decreased to $1.50 compared to $1.64 the previous year. The fourth quarter saw a significant drop in sales to $9.5 million from $13.2 million, amidst challenges in production and supply chain disruptions due to COVID-19.
Nobility Homes, Inc. (OTCQX:NOBH) reported a 34% increase in sales for Q3 2021, totaling $11,778,120, compared to $8,800,410 in Q3 2020. However, income from operations decreased to $1,192,288 from $1,331,060 year-over-year. Net income also declined to $1,050,746 from $1,160,138. For the first nine months, sales rose 25% to $35,592,531, but income from operations fell to $4,478,526. The company maintains a strong financial position with $36,373,258 in cash and no debt, while overcoming challenges in production due to labor and material shortages.
Nobility Homes (OTCQX:NOBH) reported a robust second quarter for 2021, with sales increasing by 45% to $14,742,900, up from $10,202,502 in 2020. Income from operations reached $2,062,172, and net income climbed to $1,724,938. For the first six months, sales rose 21% to $23,814,411. However, gross profits were negatively impacted by ongoing supply challenges and inflation in building materials. Despite these challenges, the company maintains a strong financial position with $35,879,342 in cash and no debt.
Nobility Homes, Inc. (OTCQX:NOBH) reported a first quarter revenue of $9,071,511, down from $9,443,852 in the same period last year. Net income also declined to $1,065,765 compared to $1,400,141 previously, with diluted EPS at $0.29, down from $0.38. Despite these declines, the company maintains a strong financial position with cash equivalents at $36,484,550 and no debt. A one-time cash dividend of $1.00 per share is set for March 26, 2021. Management cites COVID-19-related challenges impacting demand and rising costs due to inflation.
Nobility Homes (OTCQX:NOBH) reported a decline in sales and earnings for Q3 2020, with sales of $8.8 million, down from $11.8 million in Q3 2019. Net income fell to $1.16 million from $2.54 million, and diluted EPS decreased from $0.67 to $0.32 year-over-year. For the first nine months, sales reached $28.4 million compared to $35.6 million last year. Despite these challenges, the company maintains a strong financial position with $29.5 million in cash, no debt, and a working capital ratio of 7.8:1.