The filing includes financial statements for the quarter, showing a decrease in net sales to $12,241,742 from $14,767,998 in the same quarter the previous year. The decrease is attributed to a reduction in the number of retail homes sold and manufactured.
Cost of sales for the quarter was $8,270,957, resulting in a gross profit of $3,970,785, compared to $4,734,346 in the previous year. The gross profit percentage remained consistent at 32% due to increased selling prices offsetting higher inflation costs.
Selling, general, and administrative expenses decreased to $1,676,650 from $2,032,330, maintaining a ratio of 14% of net sales.
Net income for the quarter was $1,980,422, down from $2,338,437 in the previous year. Basic earnings per share were $0.61, compared to $0.72 in the previous year.
Cash provided by operating activities was $2,417,866, while cash used in investing activities resulted in a net cash inflow of $351,922.
Nobility Homes reported a working capital of $44,796,398 as of February 1, 2025, with cash and cash equivalents totaling $16,291,084.
The company did not repurchase any shares of its common stock during the quarter and reported no significant changes in internal controls over financial reporting.
Nobility Homes continues to face challenges such as higher interest rates, supply chain delays, and increased material costs, impacting sales and production.
The company declared a one-time cash dividend of $1.25 per common share, payable on April 14, 2025, to stockholders of record as of March 31, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nobility Homes, Inc. quarterly 10-Q report dated March 17, 2025. To report an error, please email [email protected].
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