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Nobility Homes fiscal Q1 profit climbs YOY

Nobility Homes Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 was 7 cents per share, an increase from 2 cents per share in the first quarter ended Feb. 1, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $300,620, a gain from $64,630 in the first quarter ended Feb. 1, 2014.

The normalized profit margin climbed to 5.4% from 1.6% in the year-earlier period.

Total revenue climbed 34.8% year over year to $5.6 million from $4.1 million, and total operating expenses climbed 27.1% from the prior-year period to $5.2 million from $4.1 million.

Reported net income increased year over year to $487,710, or 12 cents per share, from $121,780, or 3 cents per share.