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Posts Tagged ‘board of directors’

Nobility Homes Reports Q1 2017 Results

March 21st, 2017 Comments off

NobilityHomesModelHomeLogoQuarterlyReport-ManufacturedHousingIndustryDailyBusinessNewsMHProNews-Nobility Homes, Inc. (OTCQX: NOBH) has announced their Q1 2017 sales results.

The company reports sales increased 16 percent to $8,573,400, as compared to $7,374,050 recorded in first quarter 2016. Income from operations for first quarter 2017 was $1,056,477 versus $975,741 in the same period last year.

Net income after taxes was $703,323, as compared to $678,401 for the same quarter last year, and diluted earnings per share were $0.18 per share, compared to $0.17 per share last year.

The demand for affordable manufactured housing in Florida and the U.S. continues to improve. According to the Florida Manufactured Housing Association, shipments in Florida for the period from November 2016 through January 2017 were up approximately 8.9% from the same period last year. Our sales and earnings continue to be affected by the lack of available retail and wholesale financing. Constrained consumer credit and the lack of lenders in the industry, partly as a result of an increase in government regulations, have limited many affordable manufactured housing buyers from purchasing homes,” said Nobility Homes President Terry Trexler.

Notably, Nobility Homes maintained a strong cash position during the quarter, with cash, cash equivalents and short-term investments of $25,962,722 with no outstanding debt. Stockholders’ equity sits at $45,498,192 and the book value per share of common stock increased to $11.36.

We believe maintaining our strong financial position is vital for future growth and success. Because of the recent years of very challenging business conditions in our market area, management continues to evaluate all expenses and react in a manner consistent with maintaining our strong financial position, while exploring opportunities to expand our distribution and manufacturing operations,” said Trexler.

The Board of Directors also declared a one-time cash dividend of $.15 per common share for fiscal year 2016, on March 10, 2017. The cash dividend is payable on April 17, 2017 to stockholders of record as of March 27, 2017.

NobilityHomesReportsQ12017EarningscreditBloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Nobility one year look. Credit: Bloomberg.

Our many years of experience in the Florida market, combined with home buyers’ increased need for more affordable housing, should serve the Company well in the coming years. Management remains convinced that our specific geographic market is one of the best long-term growth areas in the country,” said Trexler.

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Inside of a Nobility manufactured home. Credit: Nobilty Homes.

As Daily Business News readers are aware, Nobility Homes designs, manufactures and sells about 100 different models of manufactured and modular homes through its own vertically integrated retail sales centers throughout Florida, and has for over 49 years. Other holdings include multiple retail sales centers, an insurance subsidiary, and an investment in a retirement manufactured home community.

Nobility Homes is also one of the industry stocks monitored each business day. For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Nominations Open for Texas MHA Board of Directors

June 8th, 2016 Comments off

texas_mhaThe Texas Manufactured Housing Association (TMHA) informs MHProNews that it is now accepting nominations for the TMHA Board of Directors. Nominations will be accepted until June 17, 2016. For a nomination form contact caitlin@texasmha.com ##

(Image credit: Texas Manufactured Housing Association)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

Modular Home Houses Homeless Female Vets

April 23rd, 2016 Comments off

Delaware__modular__milford__capegazette_dot_village_soup__credit__home_of_the_braveBuilt by Beracah Homes, a modular homeless shelter for female veterans has just been sited in Milford, Delaware adjacent to a facility for male veterans, in use since 1996, according to capegazette.villagesoup.

Staffed by Home of the Brave personnel, as MHProNews has learned, the new two-story, four bedroom home, which will house up to eight female veterans and their children, is expected to be complete next month.

Beth McGinn, chair of the Home of the Brave Board of Directors, said, “Being co-located means we’ll be able to save money and put more money into our programs.”

While more donations are needed to foot the $400,000 tab, there is room on the property for an identical building if more vets require services. ##

(Photo credit: capegazette.villagesoup–Home of the Brave modular shelter being sited)

Residential Warranty and MHWC welcome New MH focused Account Executive, Ron D’Ambra

November 19th, 2014 Comments off

residential-warranty-company-rwc-weblogo=credit-posted-daily-business-news-mhpronews-Ron D’Ambra, recently with Professional Warranty Service Corporation (PWSC) that exited the manufactured housing space, has joined and completed his initial orientation with MHWC and RWC in Harrisburg, PA. D’Ambra is a well know personality in manufactured housing, with 15 years in the industry. Evidence of the respect he has earned among industry professionals is his new 4 year term on the Manufactured Housing Institute’s Suppliers Division Board of Directors.

D’Ambra has been a periodic contributor to MHProNews,  with expert commentary on industry topics in articles such as Are HUD Practies Making Manufactured Homes Less Affordable?

As a multi-state Property & Casualty insurance licensee, Ron has been warmly welcomed by Residential Warranty Company, LLC (RWC) and MHWC.

Residing in Chapin, South Carolina, RWSC/MHWC tell MHProNews  that Ron enjoys spending time with his family and that his hobbies include restoring, maintaining and collecting high performance and classic cars, boating and fishing.

Residential Warranty Company, LLC and MHWC are leading providers of third-party, insured manufactured home warranties throughout the U.S. In business since 1989, MHWC, together with its national affiliate Residential Warranty Company, LLC (RWC), have warranted over 3 million homes. ##

(Image credit: RWC logo)

Applications Open for VAMMHA Scholarships

February 11th, 2014 Comments off

The Virginia Manufactured and Modular Housing Association (VAMMHA) announces applications are being accepted for its 2014 Scholarship Program. Applicants must be employed by VAMMHA member companies or be the children or grandchildren of employees and have a 3.0 grade point average (GPA). They are required to submit three letters of recommendation from non-family individuals, as well as transcripts from schools most recently attended. Nominations are open to senior high school and current college students, and scholarships will be awarded for undergraduate studies, including those gifted and with special needs. The Board of Directors of VAMMHA determines the winners and the amount of the scholarships depending upon available funds. MHProNews.com has learned the application deadline is March 1, 2014.

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(Image credit: VAMMHA)

CIS Financial Dedicates new Office

December 13th, 2013 Comments off

The Alabama Manufactured Housing Association (AMHA) informs MHProNews city dignitaries were on hand for a ribbon-cutting ceremony at the expanded facilities of CIS Financial Services in Hamilton, Alabama to honor company found Paula Reeves. She began the company in 1991 with two employees and has now grown to 78 employees financing manufactured and modular homes, as well as site-built homes in 27 states. Her company also services loans they originate and acquire, and sells insurance. CIS supports community charities and fund-raising events, and encourages its employees to do the same. Ms. Reeves serves on the AMHA Board of Directors and its Executive Committee. Both she and her firm have received honors and accolades.

(Image credit: AMHA)

Killam Declares Quarterly Dividend

October 18th, 2013 Comments off

Canada’s Killam Properties Inc (TSX:KMP) reports its board of directors has declared a monthly dividend of $0.04833 per common share to be paid on Nov. 15, 2013 to shareholders of record Oct. 31, 2013. Killam’s Dividend re-investment plan (DRIP) allows shareholders the opportunity to re-invest their dividends in additional common shares, according to wsj.com. Based in Halifax, Nova Scotia, Canada as MHProNews knows, Killam is one of the largest owners of manufactured housing communities in Canada.

(Photo credit: Killam Properties, Inc.)

Sun Declares Two Stock Dividend

September 20th, 2013 Comments off

Southfield, Michigan-based Sun Communities, Inc. (SUI) has declared a $0.63 dividend per share of common stock for the third quarter of 2013, payable Oct. 18, 2013 to shareholders of record Sept. 30, 2013. The board of directors of this real estate investment trust (REIT) also declared a dividend per share of $0.4453125 for the company’s 7.125% Series A Cumulative Redeemable Preferred Stock payable Oct. 15, 2013 to shareholders of record Oct. 2, 2013. According to marketwatch.com, the preferred stock was issued Nov. 12, 2012. MHProNews knows Sun owns and operates a portfolio of 185 manufactured housing and recreational vehicle communities comprised of 68,200 developed sites.

(Photo credit: Sun Communities, Inc.)

Nominations for RV/MH Hall of Fame Due

September 12th, 2013 Comments off

The Recreational Vehicle (RV)/Manufactured Housing (MH) Hall of Fame (Hall) Selection Committee is actively seeking nominations for the class of 2014. Darryl Searer, Hall president, said, “The Hall welcomes nominations from all RV and manufactured housing sectors — manufacturers, dealers, campgrounds, housing communities, suppliers, user groups, trade media, associations, etc.” The nominee must have been involved in either industry for at least 25 years. Hall Chairman Barry Cole said, “Time is running out for nominations to the Hall’s Class of 2014, so I urge my colleagues to honor their friends and co-workers by submitting their nominations before the October 31 deadline.” MHProNews understands the nomination process has been streamlined by the Board of Directors. For more information, click here please.

(Photo credit: RV/MH Hall of Fame)

RV/MH Hall of Fame Elects New Board Members

August 14th, 2013 Comments off

Seven new members have been elected to the RV/MH Hall of Fame Board of Directors at their recent board meeting, according to Board Chairman Barry Cole. The new members are: Dick Jennison, Manufactured Housing Institute; Joe Stegmayer, Cavco Industries; Mark Wasson, Bluelinx Corp.; Mick Ferkey, Greenway RV; Dana Nelson, RV Pro Magazine; Beverly Gardner, RVBusiness Magazine; and Raymond Padgett, Blue Ox. Additionally, fifteen members remain on the board and two others have retired. Says Cole, “These new board members will join the existing board members in helping us meet the challenges as we move forward and take the Hall of Fame to new levels of success.” As MHProNews knows, the Hall of Fame is located in Elkhart, Indiana.

(Photo credit: RV/MH Hall of Fame)