Nobility Homes (NOBH) 8-K Nobility Homes, Inc. Announces Increased Sales and Earnings for Its First Quarter 2015

NOBILITY HOMES, INC.
Consolidated Balance Sheets
		January 31,	November 1,
		2015	2014
		(Unaudited)
Assets
Current assets:
	Cash and cash equivalents	$     14,730,850	$      14,116,412
	Short-term investments	425,459	496,444
	Accounts receivable - trade	1,260,874	2,141,468
	Mortgage notes receivable, current	7,832	7,126
	Income tax receivable	4,757	5,964
	Inventories	5,604,695	5,516,540
	Pre-owned homes, current	2,401,834	2,839,203
	Prepaid expenses and other current assets	674,795	286,990
	Deferred income taxes	531,826	508,633
	Total current assets	25,642,922	25,918,780
Property, plant and equipment, net		3,954,558	3,957,071
Pre-owned homes		2,275,696	1,711,000
Mortgage notes receivable, long term		180,031	180,800
Other investments		2,779,548	2,751,663
Deferred income taxes		1,464,174	1,487,367
Other assets		2,952,924	2,921,424
	Total assets	$     39,249,853	$      38,928,105
Liabilities and Stockholders' Equity
Current liabilities:
	Accounts payable	$         405,079	$          502,259
	Accrued compensation	307,843	320,502
	Accrued expenses and other current liabilities	644,135	526,296
	Customer deposits	957,462	1,029,088
	Total current liabilities	2,314,519	2,378,145
Commitments and contingent liabilities
Stockholders' equity:
Preferred stock, $.10 par value, 500,000 shares
authorized; none issued and outstanding		-	-
Common stock, $.10 par value, 10,000,000
shares authorized;  5,364,907 shares issued		536,491	536,491
Additional paid in capital		10,646,157	10,643,866
Retained earnings		35,057,470	34,577,682
Accumulated other comprehensive income		210,605	281,590
Less treasury stock at cost, 1,303,038 shares in 2015 and
	1,301,038 shares in 2014	(9,515,389)	(9,489,669)
	Total stockholders' equity	36,935,334	36,549,960
	Total liabilities and stockholders' equity	$     39,249,853	$      38,928,105

NOBILITY HOMES, INC.
Consolidated Statements of Comprehensive Income
(Unaudited)
			Three Months Ended
			January 31,	February 1,
			2015	2014
Net sales			$   5,576,800	$   4,137,438
Cost of goods sold			(4,404,031)	(3,391,908)
		Gross profit	1,172,769	745,530
Selling, general and administrative expenses			(747,949)	(661,344)
		Operating income	424,820	84,186
Other income (loss):
	Interest income		13,120	9,832
	Undistributed earnings in joint venture -  Majestic 21		33,578	32,331
	Losses from investments in retirement
		community limited partnerships	(5,693)	(39,401)
	Miscellaneous		15,170	16,454
		Total other income	56,175	19,216
Income before provision for income taxes			480,995	103,402
Income tax expense			(1,207)	-
		Net income	479,788	103,402
Other comprehensive income (loss)
	Unrealized investment gain (loss)		(70,985)	17,943
	Comprehensive income		$     408,803	$     121,345
Weighed average number of shares outstanding:
	Basic		4,063,913	4,057,994
	Diluted		4,064,254	4,059,316
Net income per share:
	Basic		$           0.12	$           0.03
	Diluted		$           0.12	$           0.03