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):  March 16, 2015

NOBILITY HOMES, INC.

(Exact name of registrant as specified in its charter)

Florida (State or other jurisdiction of incorporation) 000-06506 (Commission File No.) 59-1166102 (IRS Employer Identification No.)

3741 S W 7th Street

Ocala, Florida                                                                                                                      34474

(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))

4852-

ITEM 2.02                      Results of Operations and Financial Condition

On March 16, 2015, Nobility Homes, Inc. issued a release regarding sales and earnings results for its first quarter ended January 31, 2015. The text of the press release is attached as Exhibit 99.1.

ITEM 9.01                      Financial Statements and Exhibits

(d)           Exhibits:

Exhibit 99.1 Press Release

Exhibit 99.2 Earnings release issued March 16, 2015 by Nobility Homes, Inc. for its first quarter ended January 31, 2015.

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.

March 17, 2015                                                                    By:           /s/ Lynn J. Cramer, Jr.                                                                

Lynn J. Cramer, Jr., Treasurer

and Principal Accounting Officer

EX-99.1

                                      Controlling Our Future through Vertical Integration

NOBILITY HOMES, INC.  ANNOUNCES INCREASED SALES AND EARNINGS FOR ITS FIRST QUARTER 2015

Ocala, FL…March 16, 2015--Today Nobility Homes, Inc. (OTC MKTS: NOBH) announced sales and earnings results for its first quarter ended January 31, 2015.  Sales for first quarter 2015 were up 35% to $5,576,800 as compared to $4,137,438 recorded in first quarter 2014.  Income from operations for first quarter was $424,820 compared to $84,186 in the same period a year ago.  Net income after taxes was $479,788 as compared to $103,402 for the same period last year.  The net income after taxes for first quarter 2015 included a $5,693 non-cash loss from our investment in a retirement community limited partnership.  Diluted earnings per share for first quarter 2015 were $.12 per share compared to $.03 per share last year.

Nobility’s financial position in first quarter 2015 remains very strong with cash and cash equivalents and short term investments of $15,156,309 and no outstanding debt.  Working capital is $23,328,403 and our ratio of current assets to current liabilities is 11.1:1. Stockholders’ equity is $36,935,334 and the book value per share of common stock increased to $9.09.

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 adversely 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.

For the Company to significantly improve their sales and earnings, our country must experience a growing and more stable economy with less uncertainty.  Continued improved sales of the existing home market, declining unemployment, increased consumer confidence, and, most importantly, more manufactured housing retail financing and a greater number of lenders with less stringent underwriting requirements for our affordable home buyers, would help improve our operations. Our 47 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 an 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.”

We have specialized for 47 years in the design and production of quality, affordable manufactured homes at our plant located in central Florida.  With our multiple retail sales centers, an insurance subsidiary, and investments in retirement manufactured home communities, we are 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 OR TERRY@NOBILITYHOMES.COM OR TOM@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.

EX-99.2

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