$NOBH
NOBILITY HOMES INC

2013 Q4 Form 10-K Financial Statement

#000119312515023632 Filed on January 28, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 2012 Q4
Revenue $5.810M $17.79M $4.390M
YoY Change 32.35% 12.34% 7.33%
Cost Of Revenue $4.470M $14.41M $3.420M
YoY Change 30.7% 11.07% 85.87%
Gross Profit $1.350M $3.377M $970.0K
YoY Change 39.18% 18.09% -56.89%
Gross Profit Margin 23.24% 18.98% 22.1%
Selling, General & Admin $670.0K $2.595M $840.0K
YoY Change -20.24% -4.23% -5.62%
% of Gross Profit 49.63% 76.85% 86.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $103.0K $20.00K
YoY Change -50.0% -11.42% 100.0%
% of Gross Profit 0.74% 3.05% 2.06%
Operating Expenses $660.0K $2.595M $840.0K
YoY Change -21.43% -4.23% -5.62%
Operating Profit $690.0K $781.7K $130.0K
YoY Change 430.77% 421.09% -90.44%
Interest Expense -$20.00K -$120.0K -$30.00K
YoY Change -33.33% -33.33% -400.0%
% of Operating Profit -2.9% -15.35% -23.08%
Other Income/Expense, Net $0.00 -$40.90K $10.00K
YoY Change -100.0% -59.2% -50.0%
Pretax Income $660.0K $740.8K $110.0K
YoY Change 500.0% 1388.75% -105.09%
Income Tax -$10.00K -$6.318K $0.00
% Of Pretax Income -1.52% -0.85% 0.0%
Net Earnings $670.0K $747.1K $110.0K
YoY Change 509.09% 1401.45% -105.09%
Net Earnings / Revenue 11.53% 4.2% 2.51%
Basic Earnings Per Share $0.18
Diluted Earnings Per Share $165.0K $0.18 $27.09K
COMMON SHARES
Basic Shares Outstanding 4.057M shares
Diluted Shares Outstanding 4.057M shares

Balance Sheet

Concept 2013 Q4 2013 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.92M $10.92M $7.670M
YoY Change 42.37% 42.37% 9.33%
Cash & Equivalents $10.47M $10.47M $7.352M
Short-Term Investments $460.0K $460.0K $320.0K
Other Short-Term Assets $3.160M $3.160M $3.660M
YoY Change -13.66% -13.66% 4.27%
Inventory $5.044M $5.040M $5.782M
Prepaid Expenses
Receivables $2.701M $2.700M $2.850M
Other Receivables $10.00K $10.00K $0.00
Total Short-Term Assets $21.84M $21.84M $19.97M
YoY Change 9.34% 9.36% 9.78%
LONG-TERM ASSETS
Property, Plant & Equipment $3.731M $3.730M $3.802M
YoY Change -1.84% -1.84% -1.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.940M $2.940M -$334.8K
YoY Change -978.19% -5.47% -85.68%
Other Assets $2.804M $8.460M $2.688M
YoY Change 4.35% 1.2% 4.37%
Total Long-Term Assets $15.31M $15.31M $15.70M
YoY Change -2.45% -2.48% -11.8%
TOTAL ASSETS
Total Short-Term Assets $21.84M $21.84M $19.97M
Total Long-Term Assets $15.31M $15.31M $15.70M
Total Assets $37.15M $37.15M $35.67M
YoY Change 4.15% 4.15% -0.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $645.5K $650.0K $404.5K
YoY Change 59.57% 62.5% 4.15%
Accrued Expenses $780.0K $780.0K $630.0K
YoY Change 23.81% 23.81% -35.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.967M $1.970M $1.382M
YoY Change 42.32% 42.75% -24.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.967M $1.970M $1.382M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.970M $1.970M $1.380M
YoY Change 42.75% 42.75% -24.59%
SHAREHOLDERS EQUITY
Retained Earnings $33.32M $32.57M
YoY Change 2.29% 0.15%
Common Stock $536.5K $536.5K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.545M $9.545M
YoY Change 0.0% -0.07%
Treasury Stock Shares 1.308M shares 1.308M shares
Shareholders Equity $35.18M $35.18M $34.29M
YoY Change
Total Liabilities & Shareholders Equity $37.15M $37.15M $35.67M
YoY Change 4.15% 4.15% -0.9%

Cashflow Statement

Concept 2013 Q4 2013 2012 Q4
OPERATING ACTIVITIES
Net Income $670.0K $747.1K $110.0K
YoY Change 509.09% 1401.45% -105.09%
Depreciation, Depletion And Amortization $10.00K $103.0K $20.00K
YoY Change -50.0% -11.42% 100.0%
Cash From Operating Activities $710.0K $3.298M -$820.0K
YoY Change -186.59% 306.73% -13.68%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K $68.86K $0.00
YoY Change 18.76%
Acquisitions
YoY Change
Other Investing Activities -$30.00K -$110.0K -$120.0K
YoY Change -75.0% -128.21% -111.54%
Cash From Investing Activities -$90.00K -$181.8K -$110.0K
YoY Change -18.18% -154.2% -110.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities 710.0K 3.298M -820.0K
Cash From Investing Activities -90.00K -181.8K -110.0K
Cash From Financing Activities
Net Change In Cash 620.0K 3.116M -930.0K
YoY Change -166.67% 171.84% -1133.33%
FREE CASH FLOW
Cash From Operating Activities $710.0K $3.298M -$820.0K
Capital Expenditures -$70.00K $68.86K $0.00
Free Cash Flow $780.0K $3.229M -$820.0K
YoY Change -195.12% 328.91% -13.68%

Facts In Submission

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CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2014Q4 us-gaap Income Taxes Receivable
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CY2014Q4 us-gaap Inventory Work In Process
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CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2013 us-gaap Unrealized Gain Loss On Investments
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134288
CY2013 us-gaap Sales Revenue Net
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CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2014Q4 us-gaap Treasury Stock Value
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CY2014Q4 us-gaap Assets Current
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CY2014Q4 nobh Pre Owned Homes Current
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CY2014Q4 nobh Pre Owned Homes
PreOwnedHomes
6322483
CY2014Q4 nobh Deferred Tax Liabilities Amortization
DeferredTaxLiabilitiesAmortization
58810
CY2014Q4 nobh Loan Loss Reserve
LoanLossReserve
278507
CY2014Q4 nobh Pre Owned Homes Ending Balance
PreOwnedHomesEndingBalance
6322483
CY2014Q4 nobh Guarantee Obligations Note Payable Principal Amount
GuaranteeObligationsNotePayablePrincipalAmount
5000000
CY2014Q4 nobh Mortgage Notes Receivable Long Term
MortgageNotesReceivableLongTerm
180800
CY2014Q4 nobh Guarantee Obligations Outstanding Note Payable Principal Amount
GuaranteeObligationsOutstandingNotePayablePrincipalAmount
1637500
CY2014Q4 nobh Percentage Of Retail Contract Price To Determine Down Payment By Customer
PercentageOfRetailContractPriceToDetermineDownPaymentByCustomer
0.35 pure
CY2014Q4 nobh Percentage Of Retail Contract Price Withhold Under Condition
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0.20 pure
CY2014Q4 nobh Collateral Value For Pool Of Loan Securing Note Payable By Joint Venture
CollateralValueForPoolOfLoanSecuringNotePayableByJointVenture
2472464
CY2014Q4 nobh Number Of Sales And Distribution Centers Operated By Company
NumberOfSalesAndDistributionCentersOperatedByCompany
10 Retailer
CY2014Q4 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
4550203
CY2014Q4 nobh Guarantee Obligations Maximum Limit Of Note Payable Principal Amount For Maturity
GuaranteeObligationsMaximumLimitOfNotePayablePrincipalAmountForMaturity
750000
CY2014Q4 nobh Minimum Down Payment By Retail Customer
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500
CY2014Q4 nobh Mortgage Notes Receivable Current
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7126
CY2014Q4 nobh Deferred Tax Liabilities Depreciation
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33288
CY2014Q4 nobh Deferred Tax Liabilities Income Taxes Recoverable
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29598
CY2013 us-gaap Earnings Per Share Diluted
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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3297779
CY2013 us-gaap Stock Repurchased During Period Shares
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0 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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4057053 shares
CY2013 us-gaap Earnings Per Share Basic
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0.18
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0
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30400 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4057053 shares
CY2013 us-gaap Gross Profit
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3376673
CY2013 us-gaap Comprehensive Income Net Of Tax
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881394
CY2013 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
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CY2013 us-gaap Nonoperating Income Expense
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CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2013 us-gaap Payments To Acquire Property Plant And Equipment
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CY2013 us-gaap Net Income Loss
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CY2013 us-gaap Investment Income Interest
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CY2013 us-gaap Increase Decrease In Accounts Receivable
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CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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134288
CY2013 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-248164
CY2013 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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242583
CY2013 us-gaap Allocated Share Based Compensation Expense
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CY2013 us-gaap Deferred Income Tax Expense Benefit
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-79000
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
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CY2013 us-gaap Increase Decrease In Customer Deposits
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186375
CY2013 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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0
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2594981
CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
652902
CY2013 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
57654
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3115973
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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251868
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6318
CY2013 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
99848
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-6318
CY2013 us-gaap Cost Of Goods Sold
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CY2013 us-gaap Depreciation
Depreciation
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CY2013 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2013 us-gaap Standard Product Warranty Accrual Payments
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CY2013 us-gaap Current State And Local Tax Expense Benefit
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CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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225860
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2013 us-gaap Advertising Expense
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CY2013 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-6318
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
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26891
CY2013 us-gaap Lease And Rental Expense
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CY2013 us-gaap Increase Decrease In Accounts Payable
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CY2013 us-gaap Share Based Compensation
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13518
CY2013 us-gaap Defined Contribution Plan Administrative Expenses
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CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-652902
CY2013 us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1697
CY2013 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Canceled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledInPeriod
23750 shares
CY2013 nobh Pre Owned Homes Sold
PreOwnedHomesSold
2519139
CY2013 nobh Increase Decrease In Cash Surrender Value Of Life Insurance
IncreaseDecreaseInCashSurrenderValueOfLifeInsurance
116944
CY2014 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P2Y26D
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Document Type
DocumentType
10-K
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.93
CY2014 dei Entity Registrant Name
EntityRegistrantName
NOBILITY HOMES INC
CY2013 nobh Pre Owned Homes Purchased
PreOwnedHomesPurchased
1399205
CY2013 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice
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CY2013 nobh Stock Issued During Period Value Share Based Compensation And Adjustments To Additional Paid In Capital Share Based Compensation Requisite Service Period Recognition Value
StockIssuedDuringPeriodValueShareBasedCompensationAndAdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRequisiteServicePeriodRecognitionValue
13518
CY2013 nobh Increase Decrease In Inventory Impairment Reserve
IncreaseDecreaseInInventoryImpairmentReserve
369182
CY2013 nobh Increase Decrease In Pre Owned Homes
IncreaseDecreaseInPreOwnedHomes
-430002
CY2013 nobh Increase Decrease In Impairment Reserve
IncreaseDecreaseInImpairmentReserve
18253
CY2013 nobh Increase Decrease In Inventory Holding Costs
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CY2013 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Exercise Price
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CY2013 nobh Undistributed Earnings In Joint Venture
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121293
CY2013 nobh Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Exercise Price
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0
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 dei Trading Symbol
TradingSymbol
NOBH
CY2014 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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4035721
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2014 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b><i>Use of Estimates</i></b> <i>&#x2013;</i> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. These estimates and assumptions are based upon management&#x2019;s best knowledge of current events and actions that the Company may take in the future. The Company is subject to uncertainties such as the impact of future events, economic, environmental and political factors and changes in the Company&#x2019;s business environment; therefore, actual results could differ from these estimates. Accordingly, the accounting estimates used in the preparation of the Company&#x2019;s consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company&#x2019;s operating environment changes. Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in the reported financial condition and results of operations; if material, the effects of changes in estimates are disclosed in the notes to the consolidated financial statements. Significant estimates and assumptions by management affect: valuation of pre-owned homes, the allowance for doubtful accounts, the carrying value of long-lived assets, the provision for income taxes and related deferred tax accounts, certain accrued expenses and contingencies, warranty reserve and stock-based compensation.</p> </div>
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-11-01
CY2014 us-gaap Fiscal Period
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b><i>Fiscal Year</i></b> <i>&#x2013;</i> The Company&#x2019;s fiscal year ends on the first Saturday on or after October&#xA0;31. The years ended November&#xA0;1,&#xA0;2014 and November&#xA0;2, 2013 each consisted of fifty-two week periods.</p> </div>
CY2014 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-01
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4060654 shares
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
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0
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0000072205
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
41212
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.50 pure
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5875 shares
CY2014 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b><i>Concentration of Credit Risk &#x2013;</i></b> The Company&#x2019;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. At times, the Company&#x2019;s deposits may exceed federally insured limits. However, the Company has not experienced any losses in such accounts and management believes the Company is not exposed to any significant credit risk on these accounts. The majority of the Company&#x2019;s sales are credit sales which are made primarily to customers whose ability to pay is dependent upon the industry economics prevailing in the areas where they operate; however, concentrations of credit risk with respect to accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk. The Company maintains reserves for potential credit losses when deemed necessary and such losses have historically been within management&#x2019;s expectations.</p> </div>
CY2014 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <strong><em>Reclassifications</em></strong>&#xA0;&#x2013; Certain amounts in the fiscal year 2013 consolidated financial statements have been reclassified to conform to the fiscal year 2014 presentation. Such reclassifications had no effect on net income (loss) or equity.</p> </div>
CY2014 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b><i>Revenues by Products and Services</i></b> &#x2013; Revenues by net sales from manufactured housing, insurance agent commissions, and construction lending operations for the years ended November&#xA0;1, 2014 and November&#xA0;2, 2013 are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="72%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2014</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">2013</td> <td valign="bottom">&#xA0;</td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Manufactured housing</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">17,802,174</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">15,495,710</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Pre-owned homes-FRSA</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2,153,134</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,209,129</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Trade-in and other pre-owned homes</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">980,019</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">849,228</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Insurance agent commissions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">204,355</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">204,960</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Construction lending operations</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">12,577</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">29,688</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Total net sales</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">21,152,259</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">$</td> <td valign="bottom" align="right">17,788,715</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <!-- End Table Body --></table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> &#xA0;</p> </div>
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4059668 shares
CY2014 us-gaap Gross Profit
GrossProfit
4371546
CY2014 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10000
CY2014 us-gaap Gain Loss On Sale Of Interest In Projects
GainLossOnSaleOfInterestInProjects
-321531
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
489921
CY2014 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
41212
CY2014 us-gaap Sales Revenue Net
SalesRevenueNet
21152259
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-32556
CY2014 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
472724
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1261934
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
3650
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
46603
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
1311030
CY2014 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1299110
CY2014 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
195819
CY2014 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-49096
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
74377
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
321451
CY2014 us-gaap Net Income Loss
NetIncomeLoss
1257898
CY2014 us-gaap Investment Income Interest
InvestmentIncomeInterest
63137
CY2014 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-559589
CY2014 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
5964
CY2014 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
269840
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8000
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1681
CY2014 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
492036
CY2014 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0
CY2014 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3060516
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
489921
CY2014 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
150476
CY2014 us-gaap Other Noncash Expense
OtherNoncashExpense
12500
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3647959
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
429057
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4036
CY2014 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-88072
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4036
CY2014 us-gaap Cost Of Goods Sold
CostOfGoodsSold
16780713
CY2014 us-gaap Depreciation
Depreciation
95843
CY2014 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2014 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3650
CY2014 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
195819
CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
20773
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-434365
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
46603
CY2014 us-gaap Advertising Expense
AdvertisingExpense
262500
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
4036
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
45808
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
183631
CY2014 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-143260
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
8091
CY2014 us-gaap Stockholders Equity Other
StockholdersEquityOther
-12500
CY2014 us-gaap Defined Contribution Plan Administrative Expenses
DefinedContributionPlanAdministrativeExpenses
0
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-489921
CY2014 us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
376
CY2014 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Canceled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledInPeriod
17525 shares
CY2014 nobh Pre Owned Homes Sold
PreOwnedHomesSold
3418543
CY2014 nobh Standard Product Warranty Period
StandardProductWarrantyPeriod
P12M
CY2014 nobh Increase Decrease In Inventory Holding Costs
IncreaseDecreaseInInventoryHoldingCosts
211334
CY2014 nobh Increase Decrease In Cash Surrender Value Of Life Insurance
IncreaseDecreaseInCashSurrenderValueOfLifeInsurance
116940
CY2014 nobh Pre Owned Homes Purchased
PreOwnedHomesPurchased
525436
CY2014 nobh Net Operating Loss Carryforward Expiration Year
NetOperatingLossCarryforwardExpirationYear
2032
CY2014 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice
17.30
CY2014 nobh Stock Issued During Period Value Share Based Compensation And Adjustments To Additional Paid In Capital Share Based Compensation Requisite Service Period Recognition Value
StockIssuedDuringPeriodValueShareBasedCompensationAndAdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRequisiteServicePeriodRecognitionValue
8091
CY2014 nobh Increase Decrease In Inventory Impairment Reserve
IncreaseDecreaseInInventoryImpairmentReserve
691094
CY2014 nobh Increase Decrease In Pre Owned Homes
IncreaseDecreaseInPreOwnedHomes
-1953792
CY2014 nobh Loan Loss Reserve As Percentage Of Portfolio
LoanLossReserveAsPercentageOfPortfolio
0.0164 pure
CY2014 nobh Minimum Percentage Of Likelihood Of Tax Benefit Being Realized Upon Settlement
MinimumPercentageOfLikelihoodOfTaxBenefitBeingRealizedUponSettlement
0.50 pure
CY2014 nobh Increase Decrease In Impairment Reserve
IncreaseDecreaseInImpairmentReserve
36887
CY2014 nobh Percentage Of Collateral Value For Pool Of Loan Securing Note
PercentageOfCollateralValueForPoolOfLoanSecuringNote
1.00 pure
CY2014 nobh Guarantee Obligations Principal Balance Of Pool Of Loans Percentage
GuaranteeObligationsPrincipalBalanceOfPoolOfLoansPercentage
0.80 pure
CY2014 nobh Undistributed Earnings In Joint Venture
UndistributedEarningsInJointVenture
134921
CY2014 nobh Percentage Of Joint Venture Loan Guaranteed By Company
PercentageOfJointVentureLoanGuaranteedByCompany
0.50 pure
CY2014 nobh Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodExercisePrice
0
CY2014 nobh Income Tax Expense Benefit For Tax Positions More Likely Than Not
IncomeTaxExpenseBenefitForTaxPositionsMoreLikelyThanNot
0
CY2004 nobh Amount Transferred From Joint Venture To Participate In Agreement
AmountTransferredFromJointVentureToParticipateInAgreement
250000

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