$NOBH
NOBILITY HOMES INC

2018 Q2 Form 10-Q Financial Statement

#000119312518194965 Filed on June 18, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $8.922M $10.05M
YoY Change -11.19% 23.78%
Cost Of Revenue $6.611M $7.647M
YoY Change -13.55% 24.34%
Gross Profit $2.311M $2.399M
YoY Change -3.65% 22.05%
Gross Profit Margin 25.9% 23.88%
Selling, General & Admin $1.119M $1.122M
YoY Change -0.26% 10.93%
% of Gross Profit 48.43% 46.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.00K $30.00K
YoY Change 0.0% 0.0%
% of Gross Profit 1.3% 1.25%
Operating Expenses $1.119M $1.122M
YoY Change -0.26% 10.93%
Operating Profit $1.192M $1.277M
YoY Change -6.63% 33.83%
Interest Expense $110.0K $60.00K
YoY Change 83.33% -98.52%
% of Operating Profit 9.23% 4.7%
Other Income/Expense, Net $374.7K $295.3K
YoY Change 26.88% -93.91%
Pretax Income $1.567M $1.572M
YoY Change -0.33% -72.9%
Income Tax $431.1K $464.4K
% Of Pretax Income 27.51% 29.54%
Net Earnings $1.136M $1.108M
YoY Change 2.54% -69.84%
Net Earnings / Revenue 12.73% 11.02%
Basic Earnings Per Share $0.29 $0.28
Diluted Earnings Per Share $0.29 $0.28
COMMON SHARES
Basic Shares Outstanding 3.904M 4.005M shares
Diluted Shares Outstanding 3.906M 4.006M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.30M $26.25M
YoY Change 15.43% 27.37%
Cash & Equivalents $29.74M $25.64M
Short-Term Investments $560.0K $610.0K
Other Short-Term Assets $2.270M $2.650M
YoY Change -14.34% -1.12%
Inventory $7.889M $7.855M
Prepaid Expenses
Receivables $1.782M $2.733M
Other Receivables $20.00K $20.00K
Total Short-Term Assets $42.26M $39.50M
YoY Change 6.99% 19.5%
LONG-TERM ASSETS
Property, Plant & Equipment $4.715M $4.170M
YoY Change 13.06% -10.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.520M $1.420M
YoY Change 7.04% 8.4%
Other Assets $156.3K $156.3K
YoY Change 0.0% 0.0%
Total Long-Term Assets $11.00M $12.31M
YoY Change -10.68% -15.53%
TOTAL ASSETS
Total Short-Term Assets $42.26M $39.50M
Total Long-Term Assets $11.00M $12.31M
Total Assets $53.25M $51.81M
YoY Change 2.79% 8.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $963.8K $809.7K
YoY Change 19.03% 29.62%
Accrued Expenses $1.800M $1.650M
YoY Change 9.09% 25.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.957M $4.958M
YoY Change 40.3% 36.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.957M $4.958M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $7.016M $5.790M
YoY Change 21.19% 34.51%
SHAREHOLDERS EQUITY
Retained Earnings $47.54M $44.67M
YoY Change 6.43% 6.75%
Common Stock $11.21M $11.20M
YoY Change 0.02% 0.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.88M $10.25M
YoY Change 25.63% 3.12%
Treasury Stock Shares 1.491M shares 1.360M shares
Shareholders Equity $46.24M $46.02M
YoY Change
Total Liabilities & Shareholders Equity $53.25M $51.81M
YoY Change 2.79% 8.78%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $1.136M $1.108M
YoY Change 2.54% -69.84%
Depreciation, Depletion And Amortization $30.00K $30.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities $3.560M $1.160M
YoY Change 206.9% -22.15%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$100.0K
YoY Change -20.0%
Acquisitions
YoY Change
Other Investing Activities $2.190M -$190.0K
YoY Change -1252.63% -109.95%
Cash From Investing Activities $2.110M -$290.0K
YoY Change -827.59% -115.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.190M -600.0K
YoY Change 431.67%
NET CHANGE
Cash From Operating Activities 3.560M 1.160M
Cash From Investing Activities 2.110M -290.0K
Cash From Financing Activities -3.190M -600.0K
Net Change In Cash 2.480M 270.0K
YoY Change 818.52% -92.06%
FREE CASH FLOW
Cash From Operating Activities $3.560M $1.160M
Capital Expenditures -$80.00K -$100.0K
Free Cash Flow $3.640M $1.260M
YoY Change 188.89% -15.44%

Facts In Submission

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us-gaap Investment Income Interest
InvestmentIncomeInterest
117383
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1656975
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3283614
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3453834
us-gaap Net Income Loss
NetIncomeLoss
2151841
us-gaap Operating Income Loss
OperatingIncomeLoss
2282104
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
439434
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-45510
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
12584
us-gaap Payments Of Dividends
PaymentsOfDividends
778614
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2505000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
469007
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
101301
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1530000
us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
1000
us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
589530
us-gaap Sales Revenue Net
SalesRevenueNet
18568082
us-gaap Share Based Compensation
ShareBasedCompensation
882
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2246141
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
123500 shares
dei Trading Symbol
TradingSymbol
NOBH
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3952650 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3950638 shares
nobh Increase Decrease In Pre Owned Homes
IncreaseDecreaseInPreOwnedHomes
-301083
nobh Undistributed Earnings In Joint Venture
UndistributedEarningsInJointVenture
50315
nobh Earnings From Finance Revenue Sharing Escrow Agreement
EarningsFromFinanceRevenueSharingEscrowAgreement
55640
nobh Increase Decrease In Cash Surrender Value Of Life Insurance
IncreaseDecreaseInCashSurrenderValueOfLifeInsurance
90000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
1135605
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1191947
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
374714
CY2018Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
203512
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1566661
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
431056
CY2018Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
81446
nobh Percentage Of Joint Venture Loan Guaranteed By Company
PercentageOfJointVentureLoanGuaranteedByCompany
0.50 pure
nobh Guarantee Obligations Principal Balance Of Pool Of Loans Percentage
GuaranteeObligationsPrincipalBalanceOfPoolOfLoansPercentage
0.80 pure
nobh Percentage Of Collateral Value For Pool Of Loan Securing Note
PercentageOfCollateralValueForPoolOfLoanSecuringNote
1.00 pure
nobh Proceeds From Collection Of Equipment Notes Receivable
ProceedsFromCollectionOfEquipmentNotesReceivable
19602
nobh Payments To Acquire Equipment Notes Receivable
PaymentsToAcquireEquipmentNotesReceivable
25451
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1067748
CY2018Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
6610958
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2018Q2 us-gaap Gross Profit
GrossProfit
2311306
CY2018Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-67857
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6850
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
8922264
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1119359
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3906077 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3903904 shares
CY2018Q2 nobh Undistributed Earnings In Joint Venture
UndistributedEarningsInJointVenture
27266
CY2018Q2 nobh Earnings From Finance Revenue Sharing Escrow Agreement
EarningsFromFinanceRevenueSharingEscrowAgreement
55640
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1120966
CY2017Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
7647187
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2017Q2 us-gaap Gross Profit
GrossProfit
2398884
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1571925
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
464416
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
31357
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
1107509
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1276598
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
295327
CY2017Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
13457
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9891
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
10046071
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1122286
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4006047 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4004840 shares
CY2017Q2 nobh Undistributed Earnings In Joint Venture
UndistributedEarningsInJointVenture
28123
CY2017Q2 nobh Earnings From Finance Revenue Sharing Escrow Agreement
EarningsFromFinanceRevenueSharingEscrowAgreement
225956

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