1 unchanged sentence
Nobility also sells its manufactured homes on a wholesale basis to independent manufactured home retail dealers and manufactured home communities.
−Removed: All references in this annual report on Form 10-K
−Removed: to “Nobility,” “Company,” “we,” “us,” or “our” refer to Nobility Homes, Inc.
+Added: All references in this annual report on Form 10-K to “Nobility,” “Company,” “we,” “us,” or “our” refer to Nobility Homes, Inc.
and its consolidated subsidiaries unless the context otherwise suggests.
5 unchanged sentences
Quad unit with 2 sections 28 feet wide from 40 to 48 feet long and 2 sections 28 feet wide by 52 feet long.
−Removed: Our floor plans can be built as an on-frame
−Removed: modular home.
+Added: Our floor plans can be built as an on-frame modular home.
We have been approved to build A.N.S.I.
6 unchanged sentences
The plant manufactures and assembles the floors, sidewalls, end walls, roofs and interior cabinets for their homes.
−Removed: Nobility purchases, from outside suppliers, various other components that are built into its homes including the axles, frames, tires, doors, windows, pre-finished
−Removed: sidings, plywood, ceiling panels, lumber, rafters, insulation, gypsum board, appliances, lighting and plumbing fixtures, carpeting and draperies.
+Added: Nobility purchases, from outside suppliers, various other components that are built into its homes including the axles, frames, tires, doors, windows, pre-finished sidings, plywood, ceiling panels, lumber, rafters, insulation, gypsum board, appliances, lighting and plumbing fixtures, carpeting and draperies.
Nobility is not dependent upon any one particular supplier for its raw materials or component parts and is not required to carry significant amounts of inventory to assure itself of a continuous allotment of goods from suppliers.
5 unchanged sentences
Substantially all of Nobility’s sales are made in Florida.
−Removed: Prestige Home Centers, Inc., our wholly-owned subsidiary, operates ten retail sales centers in north and central Florida.
+Added: Prestige Home Centers, Inc.(“Prestige”), our wholly owned subsidiary, operates ten retail sales centers in north and central Florida.
Its principal executive offices are located at Nobility’s headquarters in Ocala, Florida.
32 unchanged sentences
The Department of Housing and Urban Development (HUD) has adopted national construction and safety standards that preempt state standards.
−Removed: In addition, HUD regulations require that manufactured homes be constructed to more stringent wind load and thermal standards.
+Added: HUD regulations require that manufactured homes be constructed to more stringent wind load and thermal standards.
Compliance with these standards involves approval by a HUD approved engineering firm of engineering plans and specifications on all models.
8 unchanged sentences
Nobility provides a limited warranty of one year on the structural components of its homes.
−Removed: The coronavirus (“COVID-19”)
−Removed: pandemic has resulted in government authorities implementing numerous measures to try to contain the virus.
−Removed: We were labeled an essential business and never closed our manufacturing plant or retail sales centers.
−Removed: The government measures as well as the public reaction to COVID-19
−Removed: and the various variants had a negative impact on customer traffic (and corresponding sales) within our centers and the operations of our business partners.
−Removed: While our manufacturing operations have continued, an outbreak in our manufacturing facility would impact our ability to produce new homes.
−Removed: There is considerable uncertainty regarding the impact, and expected duration, of such measures and potential future measures, which could cause disruptions to our business in the future.
−Removed: In addition, whether caused by COVID-19
−Removed: or other factors, we have experienced unprecedented inflation and shortages in many material products, and difficulty in hiring additional and retaining production workers, with no immediate relief in sight that have resulted in increases to our material and labor costs.
+Added: The government measures as well as the public reaction to COVID-19 and the various variants previously had a negative impact on customer traffic (and corresponding sales) within our centers and the operations of our business partners, which has since subsided.
+Added: However, whether caused by COVID-19 or other factors, we have experienced unprecedented inflation and shortages in many material products, and difficulty in hiring additional and retaining production workers, with no immediate relief in sight that have resulted in corresponding increases to our material and labor costs.
The Company is monitoring these issues and has adjusted our selling prices accordingly to help offset the higher costs.
1 unchanged sentence
The initial investment required for entry into the business of manufacturing homes is not unduly large.
−Removed: State bonding requirements for entry in the business vary from state to state.
+Added: State bonding requirements for entry into the business vary from state to state.
The bond requirement for Florida is $50,000.
7 unchanged sentences
We have a focus on safety and being drug free in our manufacturing operations.
−Removed: Historically, we have had low turnover rates with our employees, other than with respect to our manufacturing employees.
+Added: Historically, we have had low turnover rates with our non-manufacturing employees.
It is currently difficult for us to attract long-term quality employees for our manufacturing operations.
We have experienced disruption in production as a result of our inability to find labor.
−Removed: We are working on developing programs designed to cause less turnover, although have not been successful to date.
+Added: We are using different hiring practices such as work release programs and employment services to reduce the turnover.
+Added: However, we are still experiencing a shortage of qualified factory production employees.
Nobility makes contributions toward employees’ group health and life insurance.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.