Exhibit 99.1

NOBILITY HOMES, INC. ANNOUNCES SALES AND EARNINGS FOR ITS THIRD QUARTER 2020

Ocala, FL…September 11, 2020 - Today Nobility Homes, Inc. (OTCQX: NOBH) announced sales and earnings for its third quarter ended August 1, 2020. Sales for the third quarter of 2020 were $8,800,410 as compared to $11,785,366 recorded in the third quarter of 2019. Income from operations for the third quarter of 2020 was $1,331,060 versus $2,293,141 in the same period a year ago. Net income after taxes was $1,160,138 as compared to $2,543,104 for the same period last year. Diluted earnings per share for the third quarter of 2020 were $0.32 per share compared to $0.67 per share last year.

For the first nine months of fiscal 2020, sales were $28,446,764 as compared to $35,567,828 for the first nine months of 2019. Income from operations was $4,879,632 versus $6,200,698 last year. Net income after taxes was $4,110,283 compared to $5,898,635 last year. Diluted earnings per share were $1.13 per share compared to $1.53 per share last year.

Nobility’s financial position for the first nine months of 2020 remains very strong with cash and cash equivalents, certificates of deposit and short term investments of $29,458,877 and no outstanding debt. Working capital is $36,802,695 and our ratio of current assets to current liabilities is 7.8:1. Stockholders’ equity is $49,066,955 and the book value per share of common stock outstanding is $13.51.

Terry Trexler, President, stated, “The coronavirus (“COVID-19”) pandemic has resulted in government authorities implementing numerous measures to try to contain the virus, such as travel bans and restrictions, quarantines, shelter in place orders, and shutdowns. Although we were deemed an essential business and never closed our manufacturing plant or retail sales centers, these measures had a negative impact on customer traffic (and corresponding sales) within our centers and the operations of our business partners. While our manufacturing operations have continued, an outbreak in our manufacturing facility would adversely impact our ability to produce new homes. There is considerable uncertainty regarding the impact, and expected duration, of such measures and potential future measures, which could cause disruptions to our business in the future. Since May of 2020 the Company has experienced unprecedented inflation in forest products, with no immediate relief in sight. The rapid increases have resulted in increases to our material costs. Recently, Hurricane Laura damaged some of the plants that supply the resin used in residential vinyl siding and PVC piping, which is currently threatening our supply chain. The Company is monitoring these issues daily and have adjusted our selling prices accordingly to help offset the higher costs.

The demand for affordable manufactured housing in Florida has been adversely impacted by COVID-19 and actions taken in response thereto. According to the Florida Manufactured Housing Association, shipments in Florida for the period from November 2019 through July 2020 were down approximately 16% from the same period last year. In addition, the lack of lenders in our industry, partly as a result of an increase in government regulations, still adversely affects our results by limiting many affordable manufactured housing buyers from purchasing homes.

Maintaining our strong financial position is vital for future growth and success. Because of very challenging business conditions during economic recessions in our market area, management will continue to evaluate all expenses and react in a manner consistent with maintaining our strong financial position, while exploring opportunities to expand our distribution and manufacturing operations.

Our many 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.”

On June 5, 2020 the Company celebrated its 53rd anniversary in business specializing in the design and production of quality, affordable manufactured homes. With multiple retail sales centers in Florida for over 30 years and an insurance agency subsidiary, 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 unaudited or forward-looking statements within the meaning of the federal securities laws. Although Nobility believes that the amounts and 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, the potential adverse impact on our business caused by the coronavirus or other health pandemic, competitive pricing pressures at both the wholesale and retail levels, increasing material costs or availability of materials due to potential supply chain interruptions, 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.

Condensed Consolidated Balance Sheets

	August 1, 2020			November 2, 2019
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	20,911,248		$	22,533,965
Certificates of Deposit		8,192,314			10,153,575
Short-term investments		355,315			521,283
Accounts receivable - trade		713,358			1,351,838
Note receivable		49,089			83,231
Mortgage notes receivable		19,742			17,896
Inventories		10,637,620			10,616,778
Pre-owned homes, net		253,060			331,103
Prepaid expenses and other current assets		1,062,244			1,217,762
Total current assets		42,193,990			46,827,431
Property, plant and equipment, net		5,156,732			5,005,644
Pre-owned homes, net		1,271,768			808,128
Note receivable, less current portion		11,693			43,769
Mortgage notes receivable, less current portion		228,706			232,148
Other investments		1,710,398			1,649,273
Deferred income taxes		27,267			80,405
Operating lease right of use assets		727,180			—
Cash surrender value of life insurance		3,761,974			3,617,974
Other assets		156,287			156,287
Total assets	$	55,245,995		$	58,421,059
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	653,332		$	1,111,216
Accrued compensation		451,891			748,626
Accrued expenses and other current liabilities		1,172,806			2,055,952
Income taxes payable		—			2,016,132
Operating lease obligation		21,381			—
Customer deposits		3,091,885			3,022,818
Total current liabilities		5,391,295			8,954,744
Operating lease obligation, less current portion		787,745			—
Total liabilities		6,179,040			8,954,744
Commitments and contingencies
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; 3,631,196 and 3,664,070 outstanding, respectively		536,491			536,491
Additional paid in capital		10,693,648			10,687,662
Retained earnings		56,102,636			55,298,750
Accumulated other comprehensive income		—			389,164
Less treasury stock at cost, 1,733,711 shares in 2020 and 1,700,837 shares in 2019		(18,265,820	)		(17,445,752	)
Total stockholders’ equity		49,066,955			49,466,315
Total liabilities and stockholders’ equity	$	55,245,995		$	58,421,059

NOBILITY HOMES, INC.

Condensed Consolidated Statements of Income and Comprehensive Income

(Unaudited)

	Three Months Ended						Nine Months Ended
	August 1, 2020			August 3, 2019			August 1, 2020			August 3, 2019
Net sales	$	8,800,410		$	11,785,366		$	28,446,764		$	35,567,828
Cost of sales		(6,361,500	)		(8,139,910	)		(19,980,510	)		(25,506,957	)
Gross profit		2,438,910			3,645,456			8,466,254			10,060,871
Selling, general and administrative expenses		(1,107,850	)		(1,352,315	)		(3,586,622	)		(3,860,173	)
Operating income		1,331,060			2,293,141			4,879,632			6,200,698
Other income (loss):
Interest income		53,209			134,526			239,365			431,995
Undistributed earnings in joint venture - Majestic 21		20,855			19,800			61,125			60,555
Proceeds received under escrow arrangement		64,053			76,734			336,447			289,341
Market value of equity investment		21,475			—			(159,051	)		—
Gain on sale of assets		32,041			864,887			32,041			880,129
Miscellaneous		12,910			10,834			32,504			33,714
Total other income		204,543			1,106,781			542,431			1,695,734
Income before provision for income taxes		1,535,603			3,399,922			5,422,063			7,896,432
Income tax expense		(375,465	)		(856,818	)		(1,311,780	)		(1,997,797	)
Net income		1,160,138			2,543,104			4,110,283			5,898,635
Other comprehensive income (loss)
Unrealized investment income net of tax effect		—			(96,120	)		—			(40,408	)
Comprehensive income	$	1,160,138		$	2,446,984		$	4,110,283		$	5,858,227
Weighted average number of shares outstanding:
Basic		3,631,089			3,807,357			3,641,048			3,848,936
Diluted		3,632,420			3,808,617			3,642,397			3,850,169
Net income per share:
Basic	$	0.32		$	0.67		$	1.13		$	1.53
Diluted	$	0.32		$	0.67		$	1.13		$	1.53