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Nobility Homes fiscal Q2 profit climbs 49.2% YOY

Nobility Homes Inc. said its normalized net income for the fiscal second quarter ended April 30 amounted to 16 cents per share, a gain of 50.6% from 11 cents per share in the second quarter ended May 2, 2015.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $638,560, a gain of 49.2% from $428,030 in the second quarter ended May 2, 2015.

The normalized profit margin climbed to 13.9% from 6.4% in the year-earlier period.

Total revenue increased 21.0% year over year to $8.1 million from $6.7 million, and total operating expenses increased 18.5% year over year to $7.2 million from $6.0 million.

Reported net income grew on an annual basis to $3.7 million, or 91 cents per share, from $690,610, or 17 cents per share.