$NOBH
NOBILITY HOMES INC

2019 Q2 Form 10-Q Financial Statement

#000119312519172960 Filed on June 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $12.74M $8.922M
YoY Change 42.82% -11.19%
Cost Of Revenue $9.296M $6.611M
YoY Change 40.62% -13.55%
Gross Profit $3.446M $2.311M
YoY Change 49.11% -3.65%
Gross Profit Margin 27.05% 25.9%
Selling, General & Admin $1.311M $1.119M
YoY Change 17.09% -0.26%
% of Gross Profit 38.03% 48.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.86K $30.00K
YoY Change 32.87% 0.0%
% of Gross Profit 1.16% 1.3%
Operating Expenses $1.311M $1.119M
YoY Change 17.09% -0.26%
Operating Profit $2.136M $1.192M
YoY Change 79.18% -6.63%
Interest Expense $166.3K $110.0K
YoY Change 51.15% 83.33%
% of Operating Profit 7.78% 9.23%
Other Income/Expense, Net $303.6K $374.7K
YoY Change -18.98% 26.88%
Pretax Income $2.439M $1.567M
YoY Change 55.7% -0.33%
Income Tax $619.6K $431.1K
% Of Pretax Income 25.4% 27.51%
Net Earnings $1.820M $1.136M
YoY Change 60.24% 2.54%
Net Earnings / Revenue 14.28% 12.73%
Basic Earnings Per Share $0.47 $0.29
Diluted Earnings Per Share $0.47 $0.29
COMMON SHARES
Basic Shares Outstanding 3.866M 3.904M
Diluted Shares Outstanding 3.868M 3.906M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.72M $30.30M
YoY Change 4.7% 15.43%
Cash & Equivalents $23.07M $29.74M
Short-Term Investments $8.657M $560.0K
Other Short-Term Assets $2.396M $2.270M
YoY Change 5.53% -14.34%
Inventory $8.228M $7.889M
Prepaid Expenses
Receivables $2.097M $1.782M
Other Receivables $84.61K $20.00K
Total Short-Term Assets $44.53M $42.26M
YoY Change 5.38% 6.99%
LONG-TERM ASSETS
Property, Plant & Equipment $4.844M $4.715M
YoY Change 2.75% 13.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.612M $1.520M
YoY Change 6.05% 7.04%
Other Assets $156.3K $156.3K
YoY Change 0.0% 0.0%
Total Long-Term Assets $11.11M $11.00M
YoY Change 0.97% -10.68%
TOTAL ASSETS
Total Short-Term Assets $44.53M $42.26M
Total Long-Term Assets $11.11M $11.00M
Total Assets $55.63M $53.25M
YoY Change 4.47% 2.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.053M $963.8K
YoY Change 9.25% 19.03%
Accrued Expenses $2.542M $1.800M
YoY Change 41.25% 9.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.283M $6.957M
YoY Change 4.69% 40.3%
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 $7.283M $6.957M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $7.311M $7.016M
YoY Change 4.2% 21.19%
SHAREHOLDERS EQUITY
Retained Earnings $49.84M $47.54M
YoY Change 4.84% 6.43%
Common Stock $11.21M $11.21M
YoY Change 0.07% 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.18M $12.88M
YoY Change 2.37% 25.63%
Treasury Stock Shares $1.504M 1.491M shares
Shareholders Equity $48.32M $46.24M
YoY Change
Total Liabilities & Shareholders Equity $55.63M $53.25M
YoY Change 4.47% 2.79%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $1.820M $1.136M
YoY Change 60.24% 2.54%
Depreciation, Depletion And Amortization $39.86K $30.00K
YoY Change 32.87% 0.0%
Cash From Operating Activities $1.250M $3.560M
YoY Change -64.9% 206.9%
INVESTING ACTIVITIES
Capital Expenditures -$7.050K -$80.00K
YoY Change -91.19% -20.0%
Acquisitions
YoY Change
Other Investing Activities -$2.033M $2.190M
YoY Change -192.81% -1252.63%
Cash From Investing Activities -$2.040M $2.110M
YoY Change -196.67% -827.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.162M -3.190M
YoY Change 30.47% 431.67%
NET CHANGE
Cash From Operating Activities 1.250M 3.560M
Cash From Investing Activities -2.040M 2.110M
Cash From Financing Activities -4.162M -3.190M
Net Change In Cash -4.952M 2.480M
YoY Change -299.69% 818.52%
FREE CASH FLOW
Cash From Operating Activities $1.250M $3.560M
Capital Expenditures -$7.050K -$80.00K
Free Cash Flow $1.257M $3.640M
YoY Change -65.48% 188.89%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2019Q2 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
1279358
CY2018Q4 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
1406831
CY2019Q2 nobh Pre Owned Homes Current
PreOwnedHomesCurrent
821781
CY2018Q4 nobh Pre Owned Homes Current
PreOwnedHomesCurrent
933640
CY2019Q2 us-gaap Inventory Noncurrent
InventoryNoncurrent
457577
CY2018Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
473191
CY2019Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
167930
CY2019Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
410320
CY2019Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2019Q2 us-gaap Revenues
Revenues
12742688
CY2018Q2 us-gaap Revenues
Revenues
8922264
us-gaap Revenues
Revenues
23782462
us-gaap Revenues
Revenues
18568082
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1858897
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1067748
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-45510
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3411243
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2106331
CY2019Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
28017
CY2019Q2 us-gaap Liabilities
Liabilities
7311186
CY2018Q4 us-gaap Liabilities
Liabilities
7948187
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5364907
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5364907
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1504394
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1491176
CY2018Q2 nobh Earnings From Finance Revenue Sharing Escrow Arrangement
EarningsFromFinanceRevenueSharingEscrowArrangement
55640
nobh Earnings From Finance Revenue Sharing Escrow Arrangement
EarningsFromFinanceRevenueSharingEscrowArrangement
55640
CY2019Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
15242
CY2018Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
203512
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
15242
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
203512
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
83402
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
203512
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
15242
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
nobh Paymentsto Acquire Certificates Of Deposits
PaymentstoAcquireCertificatesOfDeposits
-2000000
nobh Paymentsto Acquire Certificates Of Deposits
PaymentstoAcquireCertificatesOfDeposits
0
us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
0
us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
589530
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
0
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1530000
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
0
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
101301
nobh Payments To Acquire Equipment Notes Receivable
PaymentsToAcquireEquipmentNotesReceivable
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
302115
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4162141
us-gaap Payments Of Dividends
PaymentsOfDividends
3864216
us-gaap Payments Of Dividends
PaymentsOfDividends
778614
CY2019Q2 us-gaap Available For Sale Securities
AvailableForSaleSecurities
578250
CY2018Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
167930
CY2018Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
369837
CY2018Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2018Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
537767
nobh Revenue Concentration Risks Recognation Terms
RevenueConcentrationRisksRecognationTerms
The Company considers there to be revenue concentration risks for distribution of its products where net product revenues exceed 10% of consolidated net product revenues.
dei Trading Symbol
TradingSymbol
NOBH
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
true
us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 18pt;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Product revenues </div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 6pt;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">We sell our products to the end user or wholesale distributors. </div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 12pt;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Revenues from product sales are recognized when the customer obtains control of our product, which occurs at a point in time, typically upon delivery to the customer. We expense incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that we would have recognized is one year or less or the amount is immaterial. We treat shipping and handling costs performed after a customer obtains control of the product as a fulfillment cost. We have identified one performance obligation in our contracts with customers which is the delivery of product to our customers.&#160;The transaction price is recognized in full when we deliver the product to our customer, which is the point at which we have satisfied our performance obligation. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2019Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3860513
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3873731
CY2019Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3844320
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
49066501
CY2019Q1 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
750
CY2019Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-16540
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
1535806
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
50586516
CY2019Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
302115
CY2019Q2 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
10729
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
1819725
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
47414297
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
94500
CY2018Q1 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
441
CY2018Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
22347
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
1016236
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
48358821
CY2018Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2410500
CY2018Q2 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
441
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
1135605
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
46237897
CY2019Q2 us-gaap Dividends Cash
DividendsCash
3864216
CY2018Q2 us-gaap Dividends Cash
DividendsCash
778614
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2019-05-04
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
NOBILITY HOMES INC
dei Entity Central Index Key
EntityCentralIndexKey
0000072205
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-03
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer

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