8-K

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 24, 2008

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 24, 2008, Nobility Homes, Inc. issued a release regarding earnings for the second quarter of 2008. The text of the press release is attached as Exhibit 99.1.

ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit 99.1 Earnings release issued June 24, 2008, by Nobility Homes, Inc., for the three months and six months ended May 3, 2008

-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 24, 2008	By:  /s/ Lynn J. Cramer, Jr.
	Lynn J. Cramer, Jr., Treasurer
	and Principal Accounting Officer

-3-

EXHIBIT INDEX

Exhibit 99.1 Earnings release issued June 24, 2008, by Nobility Homes, Inc., for the three months and six months ended May 3, 2008

-4-

EX-99.1

NOBILITY HOMES, INC. ANNOUNCES SALES
AND EARNINGS FOR ITS SECOND QUARTER 2008

        Ocala, FL…June 24, 2008 — Today Nobility Homes, Inc. (NASDAQ: NOBH) announced sales and earnings results for its second quarter ended May 3, 2008. Sales for the second quarter of fiscal 2008 were $8,700,899 as compared to $10,323,420 in the second quarter of 2007. Income from operations for the second quarter 2008 was $748,463 versus $1,140,788 in the same period a year ago. Net income after taxes was $587,738 as compared to $1,070,375 last year. Diluted earnings per share for the second quarter of 2008 were $0.14 per share compared to $0.26 per share last year.

        For the first six months of fiscal 2008, sales were $16,869,451 as compared to sales of $19,126,453 in the first six months of 2007. Income from operations was $1,273,238 versus $1,787,808 in the first six months of 2007. Net income after taxes was $1,208,723 compared to $1,801,770 for the same six month period last year. Diluted earnings per share were $0.30 per share versus last year’s six months results of $0.44 per share.

        Nobility’s financial position for the second quarter of fiscal 2008 remains very strong with cash and cash equivalents, short and long-term investments of $16,686,905 and no outstanding debt. Working capital was $18,666,563 and our ratio of current assets to current liabilities was 8.0:1. Stockholders’ equity was $42,893,092 and the book value per share of common stock was $10.49. The return on average stockholders’ equity was 8% and the return on average assets was 8%. The Company purchased in the open market 2,000 shares of its common stock for the first six months of 2008. The Company’s Board of Directors has authorized the purchase of up to 200,000 shares of the Company’s stock in the open market.

        Terry Trexler, President stated, “Sales and operations for the second quarter of 2008, were adversely impacted by the reduced manufactured housing shipments in Florida plus the overall decline in Florida and the nation’s housing market. Industry shipments in Florida for the period November of 2007 through April 2008 were down approximately 24% from the same period last year. Although the current overall housing market has continued to decline this year, the long-term demographic trends still favor strong growth in the Florida market area we serve. Management remains 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, we expect to continue out-performing the industry. With a strong and stable economy, improved sales in the existing home market, stable unemployment, low interest rates, the continued tight credit markets and the decline in aggressive mortgage financing of site-built homes, management expects the demand for our homes to improve. Management understands that during these challenging conditions within our industry and our country, the Company’s strong financial condition is vital for future growth and success. Fiscal year 2008 is Nobility’s 41^st year of operating in our market area. We plan to increase the level of consumer awareness, confidence in Nobility and Prestige, our retail organization, and increase our market share with the introduction and promotion of more special edition homes and by using television commercials in our various marketing areas within Florida. The Company has invested as a limited partner in two new Florida retirement manufactured home communities in fiscal year 2008. Although these investments will report non-cash losses in the initial fill-up stage, management believes that the new attractive and affordable manufactured home communities for senior citizens will be a significant growth area for Florida in the future.”

        Nobility Homes, Inc. has specialized for 41 years in the design and production of quality, affordable manufactured homes at its two plants located in central Florida. With seventeen Company retail sales centers, a finance company joint venture, an insurance subsidiary, and an investment in two new affordable retirement manufactured home communities, Nobility is the only vertically integrated manufactured home company headquartered in Florida.

MANAGEMENT WILL HOLD A CONFERENCE CALL ON TUESDAY, JUNE 24, 2008 AT 4:30 PM EASTERN TIME. TO PARTICIPATE, PLEASE DIAL 877-857-6150. THE PASSCODE FOR THE CALL IS 2448603. YOU MAY ALSO ACCESS THE CALL AT www.nobilityhomes.com OR http://www.videonewswire.com/event.asp?id=49387

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 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
(Unaudited)

	May 3, 2008			November 3, 2007
Assets
Current assets:
Cash and cash equivalents	$	6,246,005		$	13,696,990
Short-term investments		435,496			544,271
Accounts receivable		1,195,567			846,868
Inventories		12,373,366			12,696,388
Prepaid income taxes		--			13,232
Prepaid expenses and other current assets		795,215			468,739
Deferred income taxes		291,569			404,776
Total current assets		21,337,218			28,671,264
Property, plant and equipment, net		4,482,033			3,867,279
Long-term investments		10,005,404			10,666,321
Other investments		7,497,264			1,917,661
Deferred income taxes		239,564			49,364
Other assets		2,333,350			2,280,010
Total assets	$	45,894,833		$	47,451,899
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	593,411		$	642,484
Accrued compensation		300,776			544,970
Accrued expenses and other current liabilities		361,545			738,950
Income taxes payable		370,183			134,500
Customer deposits		1,044,740			1,466,037
Total current liabilities		2,670,655			3,526,941
Deferred income taxes		56,086			--
Uncertain tax liabilities		275,000			--
Total liabilities		3,001,741			3,526,941
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		10,089,444			9,999,799
Retained earnings		41,354,991			42,389,839
Accumulated other comprehensive income		166,881			234,724
Less treasury stock at cost, 1,277,118 and
1,277,763 shares, respectively, in 2008 and 2007		(9,254,715	)		(9,235,895	)
Total stockholders’ equity		42,893,092			43,924,958
Total liabilities and stockholders’ equity	$	45,894,833		$	47,451,899

NOBILITY HOMES, INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Unaudited)

	Three Months Ended						Six Months Ended
	May 3, 2008			May 5, 2007			May 3, 2008			May 5, 2007
Net sales	$	8,700,899		$	10,323,420		$	16,869,451		$	19,126,453
Cost of goods sold		(6,241,140	)		(7,282,248	)		(12,193,495	)		(13,706,072	)
Gross profit		2,459,759			3,041,172			4,675,956			5,420,381
Selling, general and administrative expenses		(1,711,296	)		(1,900,384	)		(3,402,718	)		(3,632,573	)
Operating income		748,463			1,140,788			1,273,238			1,787,808
Other income:
Interest income		98,669			187,423			270,930			392,433
Undistributed earnings in joint venture - Majestic 21		84,575			85,057			168,695			154,749
Earnings from finance revenue sharing agreement		194,900			137,200			345,100			269,800
Undistributed losses from investments in limited partnerships		(178,842	)		--			(178,842	)		--
Miscellaneous		7,989			43,555			4,242			66,874
Total other income		207,291			453,235			610,125			883,856
Income before provision for income taxes		955,754			1,594,023			1,883,363			2,671,664
Provision for income taxes		(368,016	)		(523,648	)		(674,640	)		(869,894	)
Net income		587,738			1,070,375			1,208,723			1,801,770
Other comprehensive income (loss), net of tax:
Unrealized investment gain (loss)		(26,648	)		35,950			(67,843	)		77,285
Comprehensive income	$	561,090		$	1,106,325		$	1,140,880		$	1,879,055
Weighed average number of shares outstanding
Basic		4,087,789			4,085,132			4,087,343			4,083,987
Diluted		4,092,759			4,096,412			4,092,605			4,096,782
Earnings per share
Basic	$	0.14		$	0.26		$	0.30		$	0.44
Diluted	$	0.14		$	0.26		$	0.30		$	0.44
Cash dividends paid per common share	$	--		$	--		$	0.50		$	0.50