Nobility Homes (NOBH) 8-K Nobility Homes, Inc. Announces Increase In Sales and Earnings for Its Second Quarter 2015

Exhibit 99.1

NOBILITY HOMES, INC. ANNOUNCES INCREASE IN SALES AND EARNINGS FOR ITS SECOND QUARTER 2015

Ocala, FL… June 11, 2015—Today Nobility Homes, Inc. (OTCQX: NOBH) announced sales and earnings results for its second quarter ended May 2, 2015. Sales for second quarter 2015 were up 23% to $6,706,118 as compared to $5,431,026 recorded in second quarter 2014. Income from operations was $665,719 versus $305,628 last year. Net income after taxes was $685,553 as compared to $284,900 last year. The net income after taxes for second quarter 2015 included a $51,657 non-cash loss from our investment in one retirement community limited partnership. Diluted earnings per share were $.17 per share compared to $.07 per share last year.

For the first six months of fiscal 2015, sales were up 28% to $12,282,918 as compared to $9,622,455 for the first six months of 2014. Income from operations was $1,085,539 versus $389,814 last year. Net income after taxes was $1,160,341 compared to $388,302 last year. The net income after taxes for the first six months of 2015 included a $57,350 non-cash loss from our investment in one retirement community limited partnership. Diluted earnings per share were $0.30 per share compared to $.10 per share last year.

Nobility’s financial position for the first six months of 2015 remains very strong with cash and cash equivalents and short term investments of $14,843,963 and no outstanding debt. Working capital is $23,399,712 and our ratio of current assets to current liabilities is 7.7:1. Stockholders’ equity is $37,572,700 and the book value per share of common stock increased to $9.27.

Terry Trexler, President, stated, “The demand for affordable manufactured housing in Florida and the U.S. is improving; however, our sales and earnings continue to be affected by the challenging housing environment, the uncertainty of the U.S. and world economy, employment levels, consumer confidence and, in particular, the lack of available retail and wholesale financing. Constrained consumer credit and the lack of lenders in the industry, partly as a result of an increase in government regulations, have limited many affordable manufactured housing buyers from purchasing homes.

Our 48 years of experience in the Florida market, combined with home buyers’ increased need for more affordable housing, should serve the Company well in the coming years. Management remains convinced that our specific geographic market is one of the best long-term growth areas in the country.

We understand that during this uncertain economic environment, maintaining our strong financial position is vital for future growth and success. Because of the recent years of very challenging business conditions in our market area, management will continue to evaluate all expenses and react in a manner consistent with maintaining our strong financial position.”

The Company has specialized for 48 years in the design and production of quality, affordable manufactured homes at its plant located in central Florida. With multiple retail sales centers, an insurance subsidiary, and investments in retirement manufactured home communities, the Company is the only vertically integrated manufactured home company headquartered in Florida.

MANAGEMENT WILL NOT HOLD A CONFERENCE CALL. IF YOU HAVE ANY QUESTIONS, PLEASE CALL TERRY OR TOM TREXLER @ 800-476-6624 EXT 221 ORTERRY@NOBILITYHOMES.COM ORTOM@NOBILITYHOMES.COM

Certain statements in this report are forward-looking statements within the meaning of the federal securities laws. Although Nobility believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, there are risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties include, but are not limited to, competitive pricing pressures at both the wholesale and retail levels, increasing material costs, continued excess retail inventory, increase in repossessions, changes in market demand, changes in interest rates, availability of financing for retail and wholesale purchasers, consumer confidence, adverse weather conditions that reduce sales at retail centers, the risk of manufacturing plant shutdowns due to storms or other factors, the impact of marketing and cost-management programs, reliance on the Florida economy, impact of labor shortage, impact of materials shortage, increasing labor cost, cyclical nature of the manufactured housing industry, impact of rising fuel costs, catastrophic events impacting insurance costs, availability of insurance coverage for various risks to Nobility, market demographics, management’s ability to attract and retain executive officers and key personnel, increased global tensions, market disruptions resulting from terrorist or other attack and any armed conflict involving the United States and the impact of inflation.

NOBILITY HOMES, INC.

Consolidated Balance Sheets

	May 2, 2015			November 1, 2014
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	14,376,563		$	14,116,412
Short-term investments		467,400			496,444
Accounts receivable - trade		2,480,662			2,141,468
Mortgage notes receivable, current		8,600			7,126
Income tax receivable		463			5,964
Inventories		6,075,256			5,516,540
Pre-owned homes, current		1,985,149			2,839,203
Prepaid expenses and other current assets		943,977			286,990
Deferred income taxes		560,445			508,633
Total current assets		26,898,515			25,918,780
Property, plant and equipment, net		3,931,056			3,957,071
Pre-owned homes		2,879,577			1,711,000
Mortgage notes receivable, long term		179,248			180,800
Other investments		2,763,128			2,751,663
Deferred income taxes		1,435,555			1,487,367
Other assets		2,984,424			2,921,424
Total assets	$	41,071,503		$	38,928,105
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	1,099,119		$	502,259
Accrued compensation		277,842			320,502
Accrued expenses and other current liabilities		790,651			526,296
Customer deposits		1,331,191			1,029,088
Total current liabilities		3,498,803			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		10,648,579			10,643,866
Retained earnings		35,738,023			34,577,682
Accumulated other comprehensive income		252,546			281,590
Less treasury stock at cost, 1,310,538 shares in 2015 and 1,301,038 shares in 2014		(9,602,939	)		(9,489,669	)
Total stockholders’ equity		37,572,700			36,549,960
Total liabilities and stockholders’ equity	$	41,071,503		$	38,928,105

NOBILITY HOMES, INC.

Consolidated Statements of Comprehensive Income

(Unaudited)

	Three Months Ended						Six Months Ended
	May 2, 2015			May 3, 2014			May 2, 2015			May 3, 2014
Net sales	$	6,706,118		$	5,431,026		$	12,282,918		$	9,622,455
Cost of goods sold		(5,167,950	)		(4,326,728	)		(9,571,981	)		(7,772,627	)
Gross profit		1,538,168			1,104,298			2,710,937			1,849,828
Selling, general and administrative expenses		(872,449	)		(798,670	)		(1,625,398	)		(1,460,014	)
Operating income		665,719			305,628			1,085,539			389,814
Other income (loss):
Interest income		16,852			18,182			29,972			28,014
Undistributed earnings in joint venture - Majestic 21		35,237			39,477			68,815			71,808
Losses from investments in retirement community limited partnerships		(51,657	)		(95,286	)		(57,350	)		(134,687	)
Miscellaneous		23,696			16,899			38,866			33,353
Total other income (loss)		24,128			(20,728	)		80,303			(1,512	)
Income before provision for income taxes		689,847			284,900			1,165,842			388,302
Income tax expense		(4,294	)		—			(5,501	)		—
Net income		685,553			284,900			1,160,341			388,302
Other comprehensive income (loss)
Unrealized investment gain (loss)		41,941			(13,120	)		(29,044	)		4,823
Comprehensive income	$	727,494		$	271,780		$	1,131,297		$	393,125
Weighed average number of shares outstanding:
Basic		4,061,853			4,058,115			4,062,883			4,058,054
Diluted		4,062,423			4,060,907			4,063,314			4,059,982
Net income per share:
Basic	$	0.17		$	0.07		$	0.30		$	0.10
Diluted	$	0.17		$	0.07		$	0.30		$	0.10