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Nobility Homes fiscal Q1 profit climbs YOY

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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. 30 was 16 cents per share, an increase from 7 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $644,350, an increase from $300,620 in the year-earlier period.

The normalized profit margin rose to 8.7% from 5.4% in the year-earlier period.

Total revenue climbed 32.2% on an annual basis to $7.4 million from $5.6 million, and total operating expenses rose 24.2% on an annual basis to $6.4 million from $5.2 million.

Reported net income rose 40.3% from the prior-year period to $684,410, or 17 cents per share, from $487,710, or 12 cents per share.