Terry Trexler, Nobility’s President, stated, “Our sales and operations continue to be impacted by our country’s economic conditions and those in the state of Florida. Although the immediate outlook for the manufactured housing industry in Florida and the nation is improving, the long-term demographic trends still favor stronger growth in the Florida market area we serve. Our 47 years of experience in the Florida market and consumers’ increased need for more affordable housing should serve us well in the coming years.”
Trexler expressed his belief that Florida is one of the best long-term growth areas in the country for manufactured housing. However, for Nobility to improve significantly and achieve the success they desire, certain things must happen first.
Nobility’s president feels there must be a better economy with less uncertainty, improved sales in the existing home market, declining unemployment, increased consumer confidence, and more retail financing for the sales of affordable homes built by Nobility.
The strength of the company, says Trexler, lies in their 47 years’ experience in the design and production of quality, affordable manufactured homes at their plant located in central Florida. “With our multiple retail sales centers, an insurance subsidiary, and investments in retirement manufactured home communities, we are the only vertically integrated manufactured home company headquartered in Florida,” Trexler explained.
Nobility’s disclosed financial position during fiscal year 2014 remains very strong with cash and cash equivalents and short term investments of $14,612,856 and no outstanding debt. Working capital is $23,540,635 and our ratio of current assets to current liabilities is 10.9:1. Stockholders’ equity is $36,549,960 and the book value per share of common stock increased to $8.99. ##
(Editor’s Note: Nobility Homes is one of the manufactured housing industry stocks tracked by MHProNews’ market report, for the Friday close, click here).
(Image credit: Nobility Homes)
