Nobility Counting on Florida Boomers Buying Manufactured Homes

PrNewswire says Nobility Homes, Inc., announced financials for its first quarter ending Feb. 5, 2011.  Sales for the first quarter were $3,232,689 with a loss from operations of $170,996.  2010 Q1 sales were $3,292,874 resulting in a loss from operations of $411,593.  The first quarter per share loss was .03 cents compared to 2010 Q1 when the loss was .08 cents per share.  The repurchase of homes has led to the inventory valuation reserve increasing nearly $60,000 for the first quarter of 2011 to $461,208.  No money has been lost in the sale of repossessions although there is concern the pricing needed to move them may require absorbing a loss.  First quarter shipments to Florida fell 18 percent from first quarter 2010 to Q1 2011, but the company has no outstanding debt, and is certain the Baby Boomers will spawn a business spike going forward.

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