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Nobility Homes fiscal Q2 profit climbs YOY

Nobility Homes Inc. said its normalized net income for the fiscal second quarter ended May 2 came to 11 cents per share, an increase from 4 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $428,030, a gain from $178,060 in the year-earlier period.

The normalized profit margin increased to 6.4% from 3.3% in the year-earlier period.

Total revenue rose 23.5% on an annual basis to $6.7 million from $5.4 million, and total operating expenses grew 17.9% on an annual basis to $6.0 million from $5.1 million.

Reported net income grew year over year to $690,610, or 17 cents per share, from $284,260, or 7 cents per share.