$NOBH
NOBILITY HOMES INC

2020 Q3 Form 10-Q Financial Statement

#000119312520244892 Filed on September 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $8.800M $11.79M $12.74M
YoY Change -25.33% 2.95% 42.82%
Cost Of Revenue $6.362M $8.140M $9.296M
YoY Change -21.85% -6.5% 40.62%
Gross Profit $2.439M $3.645M $3.446M
YoY Change -33.1% 32.96% 49.11%
Gross Profit Margin 27.71% 30.93% 27.05%
Selling, General & Admin $1.108M $1.352M $1.311M
YoY Change -18.08% 5.7% 17.09%
% of Gross Profit 45.42% 37.1% 38.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.27K $34.58K $39.86K
YoY Change 13.56% 15.27% 32.87%
% of Gross Profit 1.61% 0.95% 1.16%
Operating Expenses $1.108M $1.352M $1.311M
YoY Change -18.08% 5.7% 17.09%
Operating Profit $1.331M $2.293M $2.136M
YoY Change -41.95% 56.81% 79.18%
Interest Expense $95.54K $154.3K $166.3K
YoY Change -38.09% 18.72% 51.15%
% of Operating Profit 7.18% 6.73% 7.78%
Other Income/Expense, Net $204.5K $1.107M $303.6K
YoY Change -81.52% 333.1% -18.98%
Pretax Income $1.536M $3.400M $2.439M
YoY Change -54.83% 97.91% 55.7%
Income Tax $375.5K $856.8K $619.6K
% Of Pretax Income 24.45% 25.2% 25.4%
Net Earnings $1.160M $2.543M $1.820M
YoY Change -54.38% 103.76% 60.24%
Net Earnings / Revenue 13.18% 21.58% 14.28%
Basic Earnings Per Share $0.32 $0.67 $0.47
Diluted Earnings Per Share $0.32 $0.67 $0.47
COMMON SHARES
Basic Shares Outstanding 3.631M 3.807M 3.866M
Diluted Shares Outstanding 3.632M 3.809M 3.868M

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.46M $31.76M $31.72M
YoY Change -7.25% -3.9% 4.7%
Cash & Equivalents $20.91M $21.15M $23.07M
Short-Term Investments $8.548M $10.62M $8.657M
Other Short-Term Assets $1.315M $1.738M $2.396M
YoY Change -24.32% -20.28% 5.53%
Inventory $10.64M $9.071M $8.228M
Prepaid Expenses
Receivables $713.4K $1.993M $2.097M
Other Receivables $68.83K $85.21K $84.61K
Total Short-Term Assets $42.19M $44.65M $44.53M
YoY Change -5.5% 1.32% 5.38%
LONG-TERM ASSETS
Property, Plant & Equipment $5.157M $4.901M $4.844M
YoY Change 5.22% 1.85% 2.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.710M $1.632M $1.612M
YoY Change 4.82% 5.27% 6.05%
Other Assets $156.3K $156.3K $156.3K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $13.05M $11.33M $11.11M
YoY Change 15.19% 3.4% 0.97%
TOTAL ASSETS
Total Short-Term Assets $42.19M $44.65M $44.53M
Total Long-Term Assets $13.05M $11.33M $11.11M
Total Assets $55.25M $55.98M $55.63M
YoY Change -1.31% 1.73% 4.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $653.3K $933.6K $1.053M
YoY Change -30.02% 22.24% 9.25%
Accrued Expenses $1.646M $2.712M $2.542M
YoY Change -39.31% 50.69% 41.25%
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 $5.391M $7.606M $7.283M
YoY Change -29.12% 0.7% 4.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $787.8K
YoY Change
Total Long-Term Liabilities $787.8K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.391M $7.606M $7.283M
Total Long-Term Liabilities $787.8K $0.00 $0.00
Total Liabilities $6.179M $7.733M $7.311M
YoY Change -20.09% 2.38% 4.2%
SHAREHOLDERS EQUITY
Retained Earnings $56.10M $52.39M $49.84M
YoY Change 7.09% 7.37% 4.84%
Common Stock $11.23M $11.22M $11.21M
YoY Change 0.06% 0.14% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.27M $15.71M $13.18M
YoY Change 16.24% 21.96% 2.37%
Treasury Stock Shares $1.734M $1.618M $1.504M
Shareholders Equity $49.07M $48.25M $48.32M
YoY Change
Total Liabilities & Shareholders Equity $55.25M $55.98M $55.63M
YoY Change -1.31% 1.73% 4.47%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $1.160M $2.543M $1.820M
YoY Change -54.38% 103.76% 60.24%
Depreciation, Depletion And Amortization $39.27K $34.58K $39.86K
YoY Change 13.56% 15.27% 32.87%
Cash From Operating Activities $1.882M $1.656M $1.250M
YoY Change 13.62% -43.28% -64.9%
INVESTING ACTIVITIES
Capital Expenditures -$21.71K -$91.16K -$7.050K
YoY Change -76.18% -29.88% -91.19%
Acquisitions
YoY Change
Other Investing Activities $2.078M -$948.7K -$2.033M
YoY Change -319.05% -53.5% -192.81%
Cash From Investing Activities $2.056M -$1.040M -$2.040M
YoY Change -297.76% -51.86% -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 -3.240K -2.536M -4.162M
YoY Change -99.87% 25257.3% 30.47%
NET CHANGE
Cash From Operating Activities 1.882M 1.656M 1.250M
Cash From Investing Activities 2.056M -1.040M -2.040M
Cash From Financing Activities -3.240K -2.536M -4.162M
Net Change In Cash 3.935M -1.919M -4.952M
YoY Change -304.99% -355.93% -299.69%
FREE CASH FLOW
Cash From Operating Activities $1.882M $1.656M $1.250M
Capital Expenditures -$21.71K -$91.16K -$7.050K
Free Cash Flow $1.903M $1.747M $1.257M
YoY Change 8.94% -42.71% -65.48%

Facts In Submission

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CY2019Q2 nobh Stockissuedduringperiodvaluesharebasedcompensationandadjustmentstoadditionalpaidincapitalsharebasedcompensationrequisiteserviceperiodrecognitionvalue
Stockissuedduringperiodvaluesharebasedcompensationandadjustmentstoadditionalpaidincapitalsharebasedcompensationrequisiteserviceperiodrecognitionvalue
10729
CY2019Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
72252
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
1819725
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
48322893
CY2019Q3 nobh Stockissuedduringperiodvaluesharebasedcompensationandadjustmentstoadditionalpaidincapitalsharebasedcompensationrequisiteserviceperiodrecognitionvalue
Stockissuedduringperiodvaluesharebasedcompensationandadjustmentstoadditionalpaidincapitalsharebasedcompensationrequisiteserviceperiodrecognitionvalue
1005
CY2019Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-96120
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
27225
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
48246860
CY2020Q3 nobh Certificate Of Deposit
CertificateOfDeposit
8192314
CY2019Q4 nobh Certificate Of Deposit
CertificateOfDeposit
10153575
CY2020Q3 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
27267
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
80405
CY2020Q3 us-gaap Liabilities
Liabilities
6179040
CY2019Q4 us-gaap Liabilities
Liabilities
8954744
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
727180
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
21381
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
787745
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
1160138
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
2543104
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1160138
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2446984
us-gaap Net Income Loss
NetIncomeLoss
4110283
us-gaap Net Income Loss
NetIncomeLoss
5898635
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-40408
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4110283
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5858227
CY2020Q3 nobh Market Value Of Equity Investment
MarketValueOfEquityInvestment
-21475
nobh Market Value Of Equity Investment
MarketValueOfEquityInvestment
159051
CY2019Q3 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
864887
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
880129
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28364861
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21146880
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1622717
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-7217981
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3368000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1550000
nobh Increase Decrease In Cash Surrender Value Of Life Insurance
IncreaseDecreaseInCashSurrenderValueOfLifeInsurance
144000
nobh Increase Decrease In Cash Surrender Value Of Life Insurance
IncreaseDecreaseInCashSurrenderValueOfLifeInsurance
135000
us-gaap Profit Loss
ProfitLoss
4110283
us-gaap Profit Loss
ProfitLoss
5898635
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-956413
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1062264
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2783220
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
270365
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
288424
CY2019Q4 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
1139231
CY2020Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
167930
CY2020Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
187386
us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
1596
us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
1502
nobh Proceeds From Collection Of Equipment And Other Notes Receivable
ProceedsFromCollectionOfEquipmentAndOtherNotesReceivable
66218
nobh Proceeds From Collection Of Equipment And Other Notes Receivable
ProceedsFromCollectionOfEquipmentAndOtherNotesReceivable
40263
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1777946
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3303334
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
822450
nobh Amortization Of Operating Lease Right Of Use Asset
AmortizationOfOperatingLeaseRightOfUseAsset
26862
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
60055
nobh Paymentsto Acquire Certificates Of Deposits
PaymentstoAcquireCertificatesOfDeposits
-20000
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
87358
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
15242
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
167576
nobh Paymentsto Acquire Certificates Of Deposits
PaymentstoAcquireCertificatesOfDeposits
-4000000
us-gaap Payments Of Dividends
PaymentsOfDividends
3630970
us-gaap Payments Of Dividends
PaymentsOfDividends
3864216
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2853361
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4462927
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6697867
CY2020Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
947610
CY2019Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
941206
CY2020Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
98265
CY2019Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
125371
CY2020Q3 nobh Inventory Consigned To Affiliated Entities
InventoryConsignedToAffiliatedEntities
1784688
CY2019Q4 nobh Inventory Consigned To Affiliated Entities
InventoryConsignedToAffiliatedEntities
1540949
CY2020Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7632876
CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7888879
CY2020Q3 us-gaap Other Inventory
OtherInventory
174181
CY2019Q4 us-gaap Other Inventory
OtherInventory
120372
CY2020Q3 us-gaap Inventory Net
InventoryNet
10637620
CY2020Q3 nobh Pre Owned Homes
PreOwnedHomes
1694645
CY2019Q4 nobh Pre Owned Homes
PreOwnedHomes
1311626
CY2020Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
169817
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
172395
CY2020Q3 nobh Pre Owned Homes Current
PreOwnedHomesCurrent
253060
CY2019Q4 nobh Pre Owned Homes Current
PreOwnedHomesCurrent
331103
CY2020Q3 nobh Pre Owned Homes Inventory Net Of Impairment Reserve
PreOwnedHomesInventoryNetOfImpairmentReserve
1524828
CY2020Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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
CY2020Q3 us-gaap Revenues
Revenues
8800410
CY2019Q3 us-gaap Revenues
Revenues
11785366
us-gaap Revenues
Revenues
28446764
us-gaap Revenues
Revenues
35567828
CY2020Q3 us-gaap Lease Cost
LeaseCost
49046
us-gaap Lease Cost
LeaseCost
153235
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
14892
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
63117
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
68401
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
74322
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
80955
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
543361
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
845048
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
35922
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
809126
CY2020Q3 nobh Operating Lease Liabilities
OperatingLeaseLiabilities
-21381
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3631196
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3664070
CY2020Q3 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
32041
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
32041
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.
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
32041
nobh Proceeds From Sale And Maturity Of Certificates Of Deposit
ProceedsFromSaleAndMaturityOfCertificatesOfDeposit
2024000
us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
1078325
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
33139
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
19710
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2020-08-01
dei Entity Central Index Key
EntityCentralIndexKey
0000072205
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Trading Symbol
TradingSymbol
NOBH
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-03
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
dei Entity File Number
EntityFileNumber
000-06506
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
dei Entity Registrant Name
EntityRegistrantName
NOBILITY HOMES INC
CY2020Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3631196
nobh Operating Payments Lease
OperatingPaymentsLease
9507
nobh Decrease In Fair Market Value Of Equity Investments
DecreaseInFairMarketValueOfEquityInvestments
159051

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