Nobility Homes, Inc. Announces Q3 Results

Today Nobility Homes, Inc.

announced sales and earnings results for its third quarter ended July 31, 2010. Sales for the third quarter of 2010 were up 41% to $4,351,040 as compared to $3,082,551 recorded in third quarter of 2009. Income from operations for the third quarter of 2010 was $27,229 versus loss of $299,019 in the same period a year ago. Net loss after taxes was $132,546 as compared to income of $21,862 for the same period last year. The net loss after taxes of $132,546 for the third quarter of 2010 came after deducting $352,995 in non-cash losses for our investment in two retirement community limited partnerships and included a tax benefit of $102,133. Loss for the third quarter of 2010 was ($0.03) per share compared to income of $.01 per diluted share last year. For the first nine months of fiscal 2010, sales were up 26% to $11,352,443 as compared to sales of $9,032,850 in the first nine months of 2009. Loss from operations for the first nine months of 2010 was $621,292 versus loss of $1,703,084 in the first nine months of 2009. Net loss after taxes was $671,920 compared to loss of $607,726 for the same nine month period last year. The net loss after taxes of $671,920 for the first nine months of 2010 came after deducting $803,044 in non-cash losses for our investment in two retirement community limited partnerships. Loss for the first nine months of 2010 was ($0.17) per share compared to loss of ($0.15) per share last year.