Nobility Homes Inc Releases Second Quarter Earnings

On June the 10th of 2016, Nobility Homes, Inc. (OTCQX: NOBH) released their sales and earnings for the second quarter of 2016. The company’s sales increased by 21%, during the period, and climbed to $8,115,840. Income from the company’s operations soared by 44%, when compared to the previous year. After taxes, Nobility Homes earned a net income of $3,671,881. For the previous year, the company earned $680,553. The company announced the sale of their limited partnership interest in CRF III, LTD. on March the 31st of 2016. The sale of the retirement community earned them $3,990,000.

The company has been in business for over 49 years and specializes in the design and production of manufactured homes. Their manufacturing plant is located in Central Florida. President of the company, Terry Texler, admits “demand for affordable manufactured housing in Florida and the US is improving.” This has contributed to the increased earnings and sales.  The company’s stock NOBH joined OTC Markets in April of 2015. The stock has a 52-week range of $9.55 to $15.00. On the last day of trading, the company’s stock closed at $13.30. This equated to a decrease of 3.27%. For further details, be sure to check out the company’s press release.