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Nobility Homes fiscal Q3 profit climbs 76.4% YOY

Nobility Homes Inc. said its normalized net income for the fiscal third quarter ended July 30 came to 20 cents per share, an increase of 77.5% from 12 cents per share in the third quarter ended Aug. 1, 2015.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $823,520, a gain of 76.4% from $466,810 in the third quarter ended Aug. 1, 2015.

The normalized profit margin increased to 8.4% from 6.6% in the year-earlier period.

Total revenue grew 38.5% on an annual basis to $9.8 million from $7.1 million, and total operating expenses climbed 36.1% year over year to $8.5 million from $6.3 million.

Reported net income grew 21.5% year over year to $885,220, or 22 cents per share, from $728,820, or 18 cents per share.