MHPronews has learned from marketwired that sales for Nobility Homes, Inc.(OTC:NOBH) rose 32 percent in the first quarter of 2016 ending Jan. 30, 2016, while income from operations (IFO) rose an astounding 130 percent over last Jan.
Sales hit $7,374,050 Q1 2016 versus $5,576,800 last year; IFO rose from $424,820 Q1 2015 to $975,471 during the same period 2016. Net income after taxes for Q1 2016 was $678,401 versus $479,788 for the same period last year. Diluted earnings per share rose from $0.12 last year to $0.17 Q1 2016.
The manufactured home producer, founded 48 years ago in Ocala, Fla., has cash, cash equivalents and short term investments of $17,162,666 and no outstanding debt. The stock closed March 14 unchanged at $13.00, as MHProNews reported in our daily stock report. Florida ranks number three in the nation for states with the highest shipments of manufactured homes.
President Terry Trexler said, “The demand for affordable manufactured housing in Florida and the U. S. is improving. According to the Florida Manufactured Housing Association, shipments in Florida for the period from Nov. 2015 through Jan. 2016 were up approximately 33 percent from the same period last year.”
The company will not be hosting a conference call. If you have questions call Terry or Tom Trexler at (800) 476-6624 ext. 221. ##
(Image credit: Nobility Homes, Inc.)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.