$NOBH
NOBILITY HOMES INC

2017 Q4 Form 10-K Financial Statement

#000119312519023504 Filed on January 31, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 2016 Q4
Revenue $10.02M $37.54M $8.780M
YoY Change 14.12% 10.25% 3.42%
Cost Of Revenue $7.740M $28.88M $6.750M
YoY Change 14.67% 10.59% 1.81%
Gross Profit $2.270M $8.661M $2.030M
YoY Change 11.82% 9.13% 9.14%
Gross Profit Margin 22.65% 23.07% 23.12%
Selling, General & Admin $1.190M $4.305M $1.050M
YoY Change 13.33% 13.82% 32.91%
% of Gross Profit 52.42% 49.71% 51.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.00K $113.8K $10.00K
YoY Change 300.0% 15.35% -75.0%
% of Gross Profit 1.76% 1.31% 0.49%
Operating Expenses $1.190M $4.305M $1.050M
YoY Change 13.33% 13.82% 31.25%
Operating Profit $1.080M $4.356M $980.0K
YoY Change 10.2% 4.86% -7.55%
Interest Expense $70.00K $253.2K $60.00K
YoY Change 16.67% -94.01% 20.0%
% of Operating Profit 6.48% 5.81% 6.12%
Other Income/Expense, Net $230.0K $812.4K -$10.00K
YoY Change -2400.0% -83.85% -150.0%
Pretax Income $1.380M $5.168M $1.040M
YoY Change 32.69% -43.73% -8.77%
Income Tax $550.0K $1.858M $310.0K
% Of Pretax Income 39.86% 35.96% 29.81%
Net Earnings $830.0K $3.310M $720.0K
YoY Change 15.28% -44.51% -28.71%
Net Earnings / Revenue 8.28% 8.82% 8.2%
Basic Earnings Per Share $0.83
Diluted Earnings Per Share $207.5K $0.83 $179.6K
COMMON SHARES
Basic Shares Outstanding 4.002M shares
Diluted Shares Outstanding 4.004M shares

Balance Sheet

Concept 2017 Q4 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.54M $28.54M $25.04M
YoY Change 13.98% 13.95% 45.33%
Cash & Equivalents $27.91M $27.91M $24.56M
Short-Term Investments $630.0K $627.1K $480.0K
Other Short-Term Assets $2.570M $2.572M $2.710M
YoY Change -5.17% -4.92% -4.91%
Inventory $7.506M $7.506M $6.969M
Prepaid Expenses
Receivables $2.934M $2.934M $2.642M
Other Receivables $520.0K $513.5K $510.0K
Total Short-Term Assets $42.06M $42.06M $37.87M
YoY Change 11.07% 11.07% 30.37%
LONG-TERM ASSETS
Property, Plant & Equipment $4.305M $4.305M $4.064M
YoY Change 5.93% 5.93% 2.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.470M $1.471M $1.370M
YoY Change 7.3% 7.57% -38.84%
Other Assets $156.3K $4.834M $156.3K
YoY Change 0.0% -9.85% 0.0%
Total Long-Term Assets $12.09M $12.09M $13.05M
YoY Change -7.36% -7.36% -2.59%
TOTAL ASSETS
Total Short-Term Assets $42.06M $42.06M $37.87M
Total Long-Term Assets $12.09M $12.09M $13.05M
Total Assets $54.15M $54.15M $50.91M
YoY Change 6.35% 6.35% 19.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $849.8K $849.8K $835.3K
YoY Change 1.74% 1.74% 18.57%
Accrued Expenses $1.750M $1.752M $1.810M
YoY Change -3.31% -3.0% 37.12%
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 $5.659M $5.659M $5.108M
YoY Change 10.8% 10.8% 52.69%
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 $5.659M $5.659M $5.108M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $6.734M $6.734M $6.248M
YoY Change 7.77% 7.77% 86.79%
SHAREHOLDERS EQUITY
Retained Earnings $46.17M $43.46M
YoY Change 6.23% 15.91%
Common Stock $11.21M $11.20M
YoY Change 0.05% 0.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.37M $10.26M
YoY Change 1.11% 4.33%
Treasury Stock Shares 1.367M shares 1.361M shares
Shareholders Equity $47.41M $47.41M $44.67M
YoY Change
Total Liabilities & Shareholders Equity $54.15M $54.15M $50.91M
YoY Change 6.35% 6.35% 19.97%

Cashflow Statement

Concept 2017 Q4 2017 2016 Q4
OPERATING ACTIVITIES
Net Income $830.0K $3.310M $720.0K
YoY Change 15.28% -44.51% -28.71%
Depreciation, Depletion And Amortization $40.00K $113.8K $10.00K
YoY Change 300.0% 15.35% -75.0%
Cash From Operating Activities $2.490M $3.765M $2.560M
YoY Change -2.73% -44.21% 6.22%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K $364.7K $0.00
YoY Change -56.01% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$100.0K $662.9K -$40.00K
YoY Change 150.0% -71.09% -33.33%
Cash From Investing Activities -$180.0K $298.2K -$40.00K
YoY Change 350.0% -79.63% -69.23%
FINANCING ACTIVITIES
Cash Dividend Paid $600.7K
YoY Change
Common Stock Issuance & Retirement, Net $123.2K
YoY Change -73.11%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -715.5K -270.0K
YoY Change -100.0% 70.59% 92.86%
NET CHANGE
Cash From Operating Activities 2.490M 3.765M 2.560M
Cash From Investing Activities -180.0K 298.2K -40.00K
Cash From Financing Activities 0.000 -715.5K -270.0K
Net Change In Cash 2.310M 3.348M 2.250M
YoY Change 2.67% -57.04% 5.14%
FREE CASH FLOW
Cash From Operating Activities $2.490M $3.765M $2.560M
Capital Expenditures -$80.00K $364.7K $0.00
Free Cash Flow $2.570M $3.400M $2.560M
YoY Change 0.39% -42.56% 2.81%

Facts In Submission

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CY2018Q4 nobh Guarantee Obligations Outstanding Note Payable Principal Amount
GuaranteeObligationsOutstandingNotePayablePrincipalAmount
157823
CY2018Q4 nobh Pre Owned Homes Current
PreOwnedHomesCurrent
933640
CY2018Q4 nobh Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
39490
CY2018Q4 nobh Mortgage Notes Receivable Current
MortgageNotesReceivableCurrent
15664
CY2018Q4 nobh Collateral Value For Pool Of Loan Securing Note Payable By Joint Venture
CollateralValueForPoolOfLoanSecuringNotePayableByJointVenture
1150477
CY2018Q4 nobh Loan Loss Reserve
LoanLossReserve
322818
CY2018Q4 nobh Minimum Down Payment By Retail Customer
MinimumDownPaymentByRetailCustomer
500
CY2018Q4 nobh Deferred Tax Liabilities Amortization
DeferredTaxLiabilitiesAmortization
39611
CY2018Q4 nobh Mortgage Notes Receivable Long Term
MortgageNotesReceivableLongTerm
236402
CY2018Q4 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
1406831
CY2018Q4 nobh Guarantee Obligations Note Payable Principal Amount
GuaranteeObligationsNotePayablePrincipalAmount
5000000
CY2018Q4 nobh Number Of Sales And Distribution Centers Operated By Company
NumberOfSalesAndDistributionCentersOperatedByCompany
10 Retailer
CY2018Q4 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingExercisePrice
12.10
CY2018Q4 nobh Percentage Of Retail Contract Price To Determine Down Payment By Customer
PercentageOfRetailContractPriceToDetermineDownPaymentByCustomer
0.35 pure
CY2018Q4 nobh Percentage Of Retail Contract Price Withhold Under Condition
PercentageOfRetailContractPriceWithholdUnderCondition
0.20 pure
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1800
CY2017 us-gaap Advertising Expense
AdvertisingExpense
190000
CY2017 us-gaap Asset Impairment Charges
AssetImpairmentCharges
233000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3347866
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3456045
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1689446
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1977145
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
287699
CY2017 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
28881992
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-118878
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-118878
CY2017 us-gaap Defined Contribution Plan Administrative Expenses
DefinedContributionPlanAdministrativeExpenses
19000
CY2017 us-gaap Depreciation
Depreciation
113757
CY2017 us-gaap Dividends Cash
DividendsCash
600726
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.83
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.83
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
3869
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5168250
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1858267
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
14503
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
181285
CY2017 us-gaap Gross Profit
GrossProfit
8661079
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2476500
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1757205
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
3910
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
187606
CY2017 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-498712
CY2017 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
52925
CY2017 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
1090032
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-90454
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
292537
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
536600
CY2017 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
3699
CY2017 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-57826
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
149613
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
182721
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
812376
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
298229
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-715473
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3765110
CY2017 us-gaap Net Income Loss
NetIncomeLoss
3309983
CY2017 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
146062
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
54682
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
4355874
CY2017 nobh Pre Owned Homes Sales
PreOwnedHomesSales
1569691
CY2017 nobh Earnings From Finance Revenue Sharing Escrow Agreement
EarningsFromFinanceRevenueSharingEscrowAgreement
504548
CY2017 nobh Increase Decrease In Impairment Reserve
IncreaseDecreaseInImpairmentReserve
-233000
CY2017 us-gaap Payments Of Dividends
PaymentsOfDividends
600726
CY2017 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
70850
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
123237
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
364698
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
13750
CY2017 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0
CY2017 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
1045
CY2017 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8490
CY2017 us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1000000
CY2017 us-gaap Profit Loss
ProfitLoss
3309983
CY2017 us-gaap Revenues
Revenues
37543071
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
7218
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.49
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
8490
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4305205
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2017 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
408925
CY2017 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
408925
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4003768 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4002436 shares
CY2017 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
7341 shares
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
123237
CY2017 nobh Payments To Acquire Equipment Notes Receivable
PaymentsToAcquireEquipmentNotesReceivable
108500
CY2017 nobh Proceeds From Collection Of Equipment Notes Receivable
ProceedsFromCollectionOfEquipmentNotesReceivable
4414
CY2017 nobh Increase Decrease In Pre Owned Homes
IncreaseDecreaseInPreOwnedHomes
-839083
CY2017 nobh Pre Owned Homes Additions
PreOwnedHomesAdditions
292518
CY2017 nobh Increase Decrease In Inventory Holding Costs
IncreaseDecreaseInInventoryHoldingCosts
83922
CY2017 nobh Increase Decrease In Cash Surrender Value Of Life Insurance
IncreaseDecreaseInCashSurrenderValueOfLifeInsurance
176932
CY2017 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
7218
CY2017 nobh Undistributed Earnings In Joint Venture
UndistributedEarningsInJointVenture
103533
CY2017 nobh Increase Decrease In Inventory Impairment Reserve
IncreaseDecreaseInInventoryImpairmentReserve
354168
CY2017 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Canceled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledInPeriod
0 shares
CY2017 nobh Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodExercisePrice
0
CY2017 nobh Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodExercisePrice
8.49
CY2017 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice
0
CY2017 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodExercisePrice
0
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1600
CY2018 us-gaap Advertising Expense
AdvertisingExpense
169000
CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018 us-gaap Asset Impairment Charges
AssetImpairmentCharges
105000
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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>
CY2018 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
454357
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4941806
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1681641
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2085515
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
403874
CY2018 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
32132238
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-03
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-437540
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-443685
CY2018 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.06 pure
CY2018 us-gaap Defined Contribution Plan Administrative Expenses
DefinedContributionPlanAdministrativeExpenses
20000
CY2018 us-gaap Depreciation
Depreciation
148204
CY2018 us-gaap Dividends Cash
DividendsCash
778614
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 dei Document Type
DocumentType
10-K
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0000072205
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2018 dei Entity Registrant Name
EntityRegistrantName
NOBILITY HOMES INC
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Small Business
EntitySmallBusiness
true
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-11-03
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.27
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1760000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1541697
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6605462
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1641830
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-171248
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1151227
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
235313
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
269928
CY2018 us-gaap Gross Profit
GrossProfit
10680027
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2018 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2018 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
203512
CY2018 us-gaap Fiscal Period
FiscalPeriod
<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 year ended November&#xA0;3, 2018 (fiscal year 2018) and the year ended November&#xA0;4, 2017 (fiscal year 2017) each consisted of a <font style="WHITE-SPACE: nowrap">fifty-two</font> week period.</p> </div>
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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-178
CY2018 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-171000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
278507
CY2018 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
319370
CY2018 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
34093
CY2018 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
1267441
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-93830
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-235131
CY2018 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
221984
CY2018 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
244668
CY2018 us-gaap Investment Income Interest
InvestmentIncomeInterest
362121
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
161105
CY2018 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
882636
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4548191
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3291219
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8293767
CY2018 us-gaap Net Income Loss
NetIncomeLoss
4963632
CY2018 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-21826
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
43955
CY2018 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
5722826
CY2018 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
101301
CY2018 us-gaap Payments Of Dividends
PaymentsOfDividends
778614
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2512605
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
606999
CY2018 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0
CY2018 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
1726
CY2018 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
589530
CY2018 us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1530000
CY2018 us-gaap Profit Loss
ProfitLoss
4963632
CY2018 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> <b><i>Revenues by Products and Services</i></b>&#xA0;&#x2013; Revenues by net sales from manufactured housing,&#xA0;<font style="WHITE-SPACE: nowrap">pre-owned</font>&#xA0;homes, and insurance agent commissions for the years ended November&#xA0;3, 2018 and November&#xA0;4, 2017 are as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <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: &quot;Times New Roman&quot;; break-inside: avoid"> <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">2018</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">2017</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Manufactured housing</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">41,643,029</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">35,689,014</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> <font style="WHITE-SPACE: nowrap">Pre-owned</font>&#xA0;homes</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">895,489</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,586,124</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Insurance agent commissions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">273,747</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">267,933</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Total net sales</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">42,812,265</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">37,543,071</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 3px double; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <br class="Apple-interchange-newline" /></div>
CY2018 us-gaap Revenues
Revenues
42812265
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
1617
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4957201
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2018 dei Trading Symbol
TradingSymbol
NOBH
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2018 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P3Y
CY2018 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
392479
CY2018 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
392479
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3914312 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3912188 shares
CY2018 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
123838 shares
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2512605
CY2018 nobh Pre Owned Homes Additions
PreOwnedHomesAdditions
594259
CY2018 nobh Pre Owned Homes Sales
PreOwnedHomesSales
1374940
CY2018 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Canceled In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledInPeriod
0 shares
CY2018 nobh Standard Product Warranty Period
StandardProductWarrantyPeriod
P12M
CY2018 nobh Earnings From Finance Revenue Sharing Escrow Agreement
EarningsFromFinanceRevenueSharingEscrowAgreement
172911
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<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 <font style="WHITE-SPACE: nowrap">pre-owned</font> 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>
CY2018 nobh Payments To Acquire Equipment Notes Receivable
PaymentsToAcquireEquipmentNotesReceivable
25451
CY2018 nobh Proceeds From Collection Of Equipment Notes Receivable
ProceedsFromCollectionOfEquipmentNotesReceivable
36828
CY2018 nobh Payments To Acquire Certificates Of Deposits
PaymentsToAcquireCertificatesOfDeposits
6000000
CY2018 nobh Income Tax Expense Benefit For Tax Positions More Likely Than Not
IncomeTaxExpenseBenefitForTaxPositionsMoreLikelyThanNot
0
CY2018 nobh Increase Decrease In Pre Owned Homes
IncreaseDecreaseInPreOwnedHomes
-445390
CY2018 nobh Increase Decrease In Impairment Reserve
IncreaseDecreaseInImpairmentReserve
-105000
CY2018 nobh Increase Decrease In Inventory Holding Costs
IncreaseDecreaseInInventoryHoldingCosts
81977
CY2018 nobh Increase Decrease In Cash Surrender Value Of Life Insurance
IncreaseDecreaseInCashSurrenderValueOfLifeInsurance
175126
CY2018 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
1617
CY2018 nobh Undistributed Earnings In Joint Venture
UndistributedEarningsInJointVenture
100137
CY2018 nobh Increase Decrease In Inventory Impairment Reserve
IncreaseDecreaseInInventoryImpairmentReserve
253314
CY2018 nobh Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodExercisePrice
0
CY2018 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice
0
CY2018 nobh Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriodExercisePrice
0
CY2018 nobh Percentage Of Joint Venture Loan Guaranteed By Company
PercentageOfJointVentureLoanGuaranteedByCompany
0.50 pure
CY2018 nobh Loan Loss Reserve As Percentage Of Portfolio
LoanLossReserveAsPercentageOfPortfolio
0.0409 pure
CY2018 nobh Minimum Percentage Of Likelihood Of Tax Benefit Being Realized Upon Settlement
MinimumPercentageOfLikelihoodOfTaxBenefitBeingRealizedUponSettlement
0.50 pure
CY2018 nobh Guarantee Obligations Principal Balance Of Pool Of Loans Percentage
GuaranteeObligationsPrincipalBalanceOfPoolOfLoansPercentage
0.80 pure
CY2018 nobh Percentage Of Collateral Value For Pool Of Loan Securing Note
PercentageOfCollateralValueForPoolOfLoanSecuringNote
1.00 pure
CY2018 nobh Income Tax Reconciliation Nondeductible Expense Other Comprehensive Income Amount
IncomeTaxReconciliationNondeductibleExpenseOtherComprehensiveIncomeAmount
86882

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