-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, US0E4Big+MMTXktVH8njlyBB2v0MH5u/q6QKSosSJgkGJTuNqRn+IiMn+tnS2Re2 1kCZvUrZCLvt2LpBf3mf1A== 0000897069-05-001468.txt : 20050614 0000897069-05-001468.hdr.sgml : 20050613 20050614133701 ACCESSION NUMBER: 0000897069-05-001468 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050609 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20050614 DATE AS OF CHANGE: 20050614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOBILITY HOMES INC CENTRAL INDEX KEY: 0000072205 STANDARD INDUSTRIAL CLASSIFICATION: MOBILE HOMES [2451] IRS NUMBER: 591166102 STATE OF INCORPORATION: FL FISCAL YEAR END: 1027 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-06506 FILM NUMBER: 05894334 BUSINESS ADDRESS: STREET 1: 3741 S W 7TH ST CITY: OCALA STATE: FL ZIP: 34478 BUSINESS PHONE: 3527325157 MAIL ADDRESS: STREET 1: P O BOX 1659 CITY: OCALA STATE: FL ZIP: 34478-1659 8-K 1 dkm624.txt FORM 8-K DATED JUNE 9, 2005 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 9, 2005 ------------ NOBILITY HOMES, INC. (Exact name of registrant as specified in its charter) Florida 000-06506 59-1166102 ------- --------- ---------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File No.) Identification No.) 3741 S W 7th Street Ocala, Florida 34478 (Address of principal executive offices) (Zip Code) Registrant's telephone number including area code: (352) 732-5157 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 2.02 Results of Operations and Financial Condition --------------------------------------------- On June 9, 2005, Nobility Homes, Inc. issued a release regarding earnings for the second quarter of 2005. The text of the press release is attached as Exhibit 99 and is being furnished pursuant to Item 2.02 of Form 8-K (Results of Operations and Financial Condition). -2- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NOBILITY HOMES, INC. June 14, 2005 By: /s/ Lynn J. Cramer, Jr. ------------------------------------ Lynn J. Cramer, Jr., Treasurer and Principal Accounting Officer -3- EXHIBIT INDEX No. Description of Exhibit 99 Press Release -4- EX-99 2 dkm624a.txt EXHIBIT 99 - PRESS RELEASE [Graphic Omitted] NOBILITY HOMES, INC. Controlling Our Future through Vertical Integration NOBILITY HOMES, INC. ANNOUNCES RECORD SALES AND EARNINGS FOR ITS SECOND QUARTER 2005 Ocala, FL...June 9, 2005-- Today Nobility Homes, Inc. (NASDAQ: NOBH) announced record sales and earnings results for its second quarter ended May 7, 2005. Sales for the second quarter of 2005 were up 18% to $15,529,132 as compared to $13,112,600 recorded in second quarter of 2004. Income from operations increased 47% to $2,361,985 versus $1,603,834 in the same period a year ago. Net income after taxes was up 47% to $1,692,002 as compared to $1,153,357 for the same period last year. Diluted earnings per share for the second quarter of 2005 improved 46% to $0.41 per share compared to $0.28 per share last year. For the first six months of fiscal 2005, sales increased 16% to $27,040,266 as compared to sales of $23,310,841 in the first six months of last fiscal year. Income from operations for the first six months improved 45% to $3,780,548 versus $2,605,845 in the same period last year. Net income increased 43% to $2,764,782 versus last year's results of $1,937,238 for the same six month period. Diluted earnings per share were up 43% to $0.67 per share versus last year's six months results of $0.47 per share. Nobility's financial position continued to improve during the second quarter of 2005 and remains very strong with cash and cash equivalents, short and long-term investments of $23,923,629 and no outstanding debt. Working capital is $13,874,742 and our ratio of current assets to current liabilities is 2.5:1. Stockholders' equity increased to $33,064,507 and the book value per share of common stock increased to $8.20. The Company repurchased in the open market 24,200 shares of its common stock during the first six months of fiscal 2005. The Company's Board of Directors has authorized the purchase up to 100,000 additional shares of the Company's stock in the open market. Terry Trexler, President, stated, "Second quarter sales of fiscal 2005, although a record quarter, continued to be adversely impacted by tight retail credit standards, high, although improving unemployment and uncertain economic conditions present in the country. Although Nobility continues to out-perform the manufactured housing industry, in the near term we anticipate continued pressure on both sales and earnings resulting from these factors, plus volatile pricing in lumber, OSB, sheetrock, steel and oil related products and services. Overall, most construction materials have increased or fluctuated widely in price over the past year with little price stability in sight. Management is optimistic for the remainder of fiscal 2005, convinced that our specific geographic market is one of the best long-term growth areas in the country and because of the strong operating leverage inherent in the Company. With an improving economy, declining unemployment claims, and increasing but still low interest rates in 2005, management expects the demand for our homes to improve. Increased demand should also result from building replacement homes due to last year's hurricanes. The Company is well positioned to capitalize on the demand in the future by controlling the retail distribution, financing, and insuring of our homes and by being financially sound to take advantage of opportunities as they develop." Nobility Homes, Inc. has specialized for the past 38 years in the design and production of quality, affordable manufactured homes at its two plants located in central Florida. With nineteen Company owned retail sales centers, a finance company joint venture, and an insurance subsidiary, Nobility is the only vertically integrated manufactured home company headquartered in Florida. MANAGEMENT WILL HOLD A CONFERENCE CALL ON THURSDAY, JUNE 9, 2005, AT 4:30 PM EASTERN TIME. TO PARTICIPATE, PLEASE DIAL 800-316-8317. THE CONFIRMATION CODE FOR THE CALL IS 6284636. YOU MAY ALSO ACCESS THE CALL AT www.nobilityhomes.com OR http://phx.corporate-ir.net/playerlink.zhtml?c=60939&s=wm&e=1081654 Certain statements in this report are forward-looking statements within the meaning of the federal securities laws, including our statement that working capital requirements will be met with internal sources. 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 purchases, consumer confidence, adverse weather conditions that reduce sales at retail centers, the risk of manufacturing plant shutdowns due to storms or other factors, and the impact of marketing and cost-management programs. -----END PRIVACY-ENHANCED MESSAGE-----