$NOBH
NOBILITY HOMES INC

2020 Q2 Form 10-Q Financial Statement

#000119312520169086 Filed on June 15, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $10.20M $12.74M
YoY Change -19.93% 42.82%
Cost Of Revenue $7.065M $9.296M
YoY Change -24.0% 40.62%
Gross Profit $3.137M $3.446M
YoY Change -8.96% 49.11%
Gross Profit Margin 30.75% 27.05%
Selling, General & Admin $1.223M $1.311M
YoY Change -6.72% 17.09%
% of Gross Profit 38.97% 38.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.46K $39.86K
YoY Change -1.0% 32.87%
% of Gross Profit 1.26% 1.16%
Operating Expenses $1.223M $1.311M
YoY Change -6.72% 17.09%
Operating Profit $1.915M $2.136M
YoY Change -10.34% 79.18%
Interest Expense -$72.06K $166.3K
YoY Change -143.34% 51.15%
% of Operating Profit -3.76% 7.78%
Other Income/Expense, Net $125.9K $303.6K
YoY Change -58.54% -18.98%
Pretax Income $2.041M $2.439M
YoY Change -16.34% 55.7%
Income Tax $490.7K $619.6K
% Of Pretax Income 24.05% 25.4%
Net Earnings $1.550M $1.820M
YoY Change -14.82% 60.24%
Net Earnings / Revenue 15.19% 14.28%
Basic Earnings Per Share $0.43 $0.47
Diluted Earnings Per Share $0.43 $0.47
COMMON SHARES
Basic Shares Outstanding 3.633M 3.866M
Diluted Shares Outstanding 3.634M 3.868M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.53M $31.72M
YoY Change -13.23% 4.7%
Cash & Equivalents $16.98M $23.07M
Short-Term Investments $10.55M $8.657M
Other Short-Term Assets $1.262M $2.396M
YoY Change -47.3% 5.53%
Inventory $10.57M $8.228M
Prepaid Expenses
Receivables $494.2K $2.097M
Other Receivables $88.07K $84.61K
Total Short-Term Assets $39.94M $44.53M
YoY Change -10.3% 5.38%
LONG-TERM ASSETS
Property, Plant & Equipment $5.175M $4.844M
YoY Change 6.84% 2.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.690M $1.612M
YoY Change 4.82% 6.05%
Other Assets $156.3K $156.3K
YoY Change 0.0% 0.0%
Total Long-Term Assets $13.09M $11.11M
YoY Change 17.88% 0.97%
TOTAL ASSETS
Total Short-Term Assets $39.94M $44.53M
Total Long-Term Assets $13.09M $11.11M
Total Assets $53.03M $55.63M
YoY Change -4.67% 4.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $753.4K $1.053M
YoY Change -28.44% 9.25%
Accrued Expenses $1.908M $2.542M
YoY Change -24.96% 41.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.343M $7.283M
YoY Change -40.37% 4.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $791.2K
YoY Change
Total Long-Term Liabilities $791.2K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.343M $7.283M
Total Long-Term Liabilities $791.2K $0.00
Total Liabilities $5.134M $7.311M
YoY Change -29.78% 4.2%
SHAREHOLDERS EQUITY
Retained Earnings $54.94M $49.84M
YoY Change 10.23% 4.84%
Common Stock $11.23M $11.21M
YoY Change 0.1% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.27M $13.18M
YoY Change 38.59% 2.37%
Treasury Stock Shares $1.734M $1.504M
Shareholders Equity $47.90M $48.32M
YoY Change
Total Liabilities & Shareholders Equity $53.03M $55.63M
YoY Change -4.67% 4.47%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $1.550M $1.820M
YoY Change -14.82% 60.24%
Depreciation, Depletion And Amortization $39.46K $39.86K
YoY Change -1.0% 32.87%
Cash From Operating Activities $1.846M $1.250M
YoY Change 47.73% -64.9%
INVESTING ACTIVITIES
Capital Expenditures -$16.01K -$7.050K
YoY Change 127.09% -91.19%
Acquisitions
YoY Change
Other Investing Activities -$40.37K -$2.033M
YoY Change -98.01% -192.81%
Cash From Investing Activities -$56.37K -$2.040M
YoY Change -97.24% -196.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.100M -4.162M
YoY Change -1.5% 30.47%
NET CHANGE
Cash From Operating Activities 1.846M 1.250M
Cash From Investing Activities -56.37K -2.040M
Cash From Financing Activities -4.100M -4.162M
Net Change In Cash -2.310M -4.952M
YoY Change -53.35% -299.69%
FREE CASH FLOW
Cash From Operating Activities $1.846M $1.250M
Capital Expenditures -$16.01K -$7.050K
Free Cash Flow $1.862M $1.257M
YoY Change 48.17% -65.48%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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PropertyPlantAndEquipmentNet
5175393
CY2019Q4 us-gaap Property Plant And Equipment Net
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CY2020Q2 us-gaap Notes And Loans Receivable Net Noncurrent
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CY2019Q4 us-gaap Notes And Loans Receivable Net Noncurrent
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CY2020Q2 nobh Mortgage Notes Receivable Long Term
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CY2019Q4 nobh Mortgage Notes Receivable Long Term
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CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2020Q2 nobh Mortgage Notes Receivable Current
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CY2019Q4 nobh Mortgage Notes Receivable Current
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CY2019Q4 us-gaap Inventory Net
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CY2020Q2 nobh Pre Owned Homes Current
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CY2020Q2 us-gaap Assets
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us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Operating Income Loss
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nobh Earnings From Finance Revenue Sharing Escrow Arrangement
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us-gaap Earnings Per Share Basic
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us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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nobh Proceeds From Collection Of Equipment And Other Notes Receivable
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nobh Increase Decrease In Cash Surrender Value Of Life Insurance
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nobh Increase Decrease In Cash Surrender Value Of Life Insurance
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Income Taxes Paid Net
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2965000
us-gaap Income Taxes Paid Net
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1019000
CY2020Q2 nobh Certificate Of Deposit
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10215997
CY2019Q4 nobh Certificate Of Deposit
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CY2020Q2 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
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OperatingLeaseRightOfUseAsset
733867
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
18819
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
791209
CY2020Q2 us-gaap Liabilities
Liabilities
5134201
CY2019Q4 us-gaap Liabilities
Liabilities
8954744
CY2019Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
39172
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1550004
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1858897
us-gaap Net Income Loss
NetIncomeLoss
2950145
us-gaap Net Income Loss
NetIncomeLoss
3355531
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
55712
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2950145
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3411243
nobh Amortization Of Operating Lease Right Of Use Asset
AmortizationOfOperatingLeaseRightOfUseAsset
17840
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
33794
nobh Paymentsto Acquire Certificates Of Deposits
PaymentstoAcquireCertificatesOfDeposits
-20000
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
50998
CY2020Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
1052079
CY2020Q2 us-gaap Other Inventory
OtherInventory
164681
CY2019Q4 us-gaap Other Inventory
OtherInventory
120372
CY2020Q2 us-gaap Inventory Net
InventoryNet
10572636
CY2020Q2 nobh Pre Owned Homes
PreOwnedHomes
1672778
CY2019Q4 nobh Pre Owned Homes
PreOwnedHomes
1311626
CY2020Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
169818
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
172395
CY2020Q2 nobh Pre Owned Homes Current
PreOwnedHomesCurrent
188401
CY2019Q4 nobh Pre Owned Homes Current
PreOwnedHomesCurrent
331103
CY2020Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
167930
CY2020Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
165910
CY2020Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2019Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
167930
CY2019Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
353353
CY2019Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0
CY2020Q2 us-gaap Revenues
Revenues
10202502
CY2019Q2 us-gaap Revenues
Revenues
12742688
us-gaap Revenues
Revenues
19646354
us-gaap Revenues
Revenues
23782462
CY2020Q2 us-gaap Lease Cost
LeaseCost
54285
us-gaap Lease Cost
LeaseCost
104189
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
29394
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
63117
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
68401
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
74322
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
80955
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
543361
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
859551
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
49522
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
810028
CY2020Q2 nobh Operating Lease Liabilities
OperatingLeaseLiabilities
-18819
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2020-05-02
dei Entity Registrant Name
EntityRegistrantName
NOBILITY HOMES INC
dei Entity Central Index Key
EntityCentralIndexKey
0000072205
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Trading Symbol
TradingSymbol
NOBH
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2020Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3630970
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
FL
dei Entity Address Address Line1
EntityAddressAddressLine1
3741 S.W. 7th Street
dei Entity Address City Or Town
EntityAddressCityOrTown
Ocala
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
34474
dei City Area Code
CityAreaCode
352
dei Local Phone Number
LocalPhoneNumber
732-5157
dei Security12b Title
Security12bTitle
Common Stock
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5364907
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3630970
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3664070
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5364907
CY2020Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1733937
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1700837
CY2020Q2 nobh Market Value Of Equity Investment
MarketValueOfEquityInvestment
176733
nobh Market Value Of Equity Investment
MarketValueOfEquityInvestment
180526
CY2019Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
15242
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
15242
CY2020Q2 us-gaap Dividends Cash
DividendsCash
3630970
CY2019Q2 us-gaap Dividends Cash
DividendsCash
3864216
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
15242
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
83402
nobh Paymentsto Acquire Certificates Of Deposits
PaymentstoAcquireCertificatesOfDeposits
-2000000
us-gaap Payments Of Dividends
PaymentsOfDividends
3630970
us-gaap Payments Of Dividends
PaymentsOfDividends
3864216
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
302115
CY2020Q2 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
1502960
CY2019Q4 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
1139231
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.
CY2020Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Entity File Number
EntityFileNumber
000-06506
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4459690
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4166331
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-03
nobh Decrease In Fair Market Value Of Equity Investments
DecreaseInFairMarketValueOfEquityInvestments
180526
nobh Operating Payments Lease
OperatingPaymentsLease
6270

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