Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Feb. 04, 2017 | Mar. 20, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Feb. 4, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | NOBH | |
Entity Registrant Name | NOBILITY HOMES INC | |
Entity Central Index Key | 72,205 | |
Current Fiscal Year End Date | --11-05 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 4,004,840 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Feb. 04, 2017 | Nov. 05, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 25,366,530 | $ 24,562,638 |
Short-term investments | 596,192 | 481,025 |
Accounts receivable - trade | 2,367,120 | 2,641,763 |
Note receivable | 500,000 | |
Mortgage notes receivable | 10,596 | 9,717 |
Inventories | 7,573,643 | 6,969,081 |
Pre-owned homes, net | 1,617,393 | 1,295,694 |
Property held for sale | 213,437 | 213,437 |
Prepaid expenses and other current assets | 646,108 | 638,939 |
Deferred income taxes | 443,859 | 556,773 |
Total current assets | 38,834,878 | 37,869,067 |
Property, plant and equipment, net | 4,096,400 | 4,063,711 |
Pre-owned homes, net | 1,132,964 | 1,733,610 |
Interest receivable | 66,970 | 48,376 |
Note receivable, less current portion | 1,530,000 | 2,030,000 |
Mortgage notes receivable, less current portion | 173,391 | 174,270 |
Other investments | 1,396,094 | 1,367,496 |
Property held for sale | 386,018 | 386,018 |
Cash surrender value of life insurance | 3,145,915 | 3,085,916 |
Other assets | 156,287 | 156,287 |
Total assets | 50,918,917 | 50,914,751 |
Current liabilities: | ||
Accounts payable | 771,477 | 835,279 |
Accrued compensation | 506,641 | 682,815 |
Accrued expenses and other current liabilities | 879,927 | 1,123,698 |
Income taxes payable | 304,827 | 759,128 |
Customer deposits | 2,123,967 | 1,706,795 |
Total current liabilities | 4,586,839 | 5,107,715 |
Deferred income taxes | 833,886 | 1,140,529 |
Total liabilities | 5,420,725 | 6,248,244 |
Commitments and contingent liabilities | ||
Stockholders' equity: | ||
Preferred stock, $.10 par value, 500,000 shares authorized; none issued and outstanding | ||
Common stock, $.10 par value, 10,000,000 shares authorized; 5,364,907 shares issued | 536,491 | 536,491 |
Additional paid in capital | 10,667,908 | 10,663,348 |
Retained earnings | 44,161,594 | 43,458,271 |
Accumulated other comprehensive income | 381,338 | 266,171 |
Less treasury stock at cost, 1,360,067 shares in 2017 and 1,361,300 shares in 2016 | (10,249,139) | (10,257,774) |
Total stockholders' equity | 45,498,192 | 44,666,507 |
Total liabilities and stockholders' equity | $ 50,918,917 | $ 50,914,751 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Feb. 04, 2017 | Nov. 05, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,364,907 | 5,364,907 |
Treasury stock, shares | 1,360,067 | 1,361,300 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
Feb. 04, 2017 | Jan. 30, 2016 | |
Income Statement [Abstract] | ||
Net sales | $ 8,573,400 | $ 7,374,050 |
Cost of goods sold | (6,549,336) | (5,617,615) |
Gross profit | 2,024,064 | 1,756,435 |
Selling, general and administrative expenses | (967,587) | (780,694) |
Operating income | 1,056,477 | 975,741 |
Other income: | ||
Interest income | 40,447 | 12,047 |
Undistributed earnings in joint venture - Majestic 21 | 28,598 | 33,408 |
Miscellaneous | 4,771 | 9,769 |
Total other income | 73,816 | 55,224 |
Income before provision for income taxes | 1,130,293 | 1,030,965 |
Income tax expense | (426,970) | (352,564) |
Net income | 703,323 | 678,401 |
Other comprehensive income | ||
Unrealized investment gain (loss) | 115,167 | (69,639) |
Comprehensive income | $ 818,490 | $ 608,762 |
Weighed average number of shares outstanding: | ||
Basic | 4,004,238 | 4,025,316 |
Diluted | 4,005,538 | 4,025,952 |
Net income per share: | ||
Basic | $ 0.18 | $ 0.17 |
Diluted | $ 0.18 | $ 0.17 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Feb. 04, 2017 | Jan. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 703,323 | $ 678,401 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation | 24,615 | 30,333 |
Deferred income taxes | (193,729) | 352,564 |
Undistributed earnings in joint venture - Majestic 21 | (28,598) | (33,408) |
Inventory impairment | 65,000 | 26,583 |
Stock-based compensation | 5,895 | 152 |
Decrease (increase) in: | ||
Accounts receivable - trade | 274,643 | 637,510 |
Inventories | (604,562) | (468,619) |
Pre-owned homes, net | 213,947 | (57,067) |
Income tax receivable | (10,000) | |
Prepaid expenses and other current assets | (7,169) | 58,340 |
Interest receivable | (18,594) | |
(Decrease) increase in: | ||
Accounts payable | (63,802) | (170,858) |
Accrued compensation | (176,174) | (80,351) |
Accrued expenses and other current liabilities | (243,771) | (160,299) |
Income taxes payable | (454,301) | |
Customer deposits | 417,172 | 91,169 |
Net cash provided by (used in) operating activities | (86,105) | 894,450 |
Cash flows from investing activities: | ||
Purchase of property, plant and equipment | (57,304) | (750,000) |
Collections on note receivable | 1,000,000 | |
Increase in cash surrender value of life insurance | (59,999) | (41,999) |
Net cash provided by (used in) investing activities | 882,697 | (791,999) |
Cash flows from financing activities: | ||
Proceeds from exercise of employee stock options | 7,300 | 30,370 |
Purchase of treasury stock | (132,386) | |
Net cash provided by (used in) financing activities | 7,300 | (102,016) |
Increase in cash and cash equivalents | 803,892 | 435 |
Cash and cash equivalents at beginning of year | 24,562,638 | 16,769,292 |
Cash and cash equivalents at end of quarter | 25,366,530 | 16,769,727 |
Supplemental disclosure of cash flows information: | ||
Income taxes paid | $ 1,075,000 | $ 10,000 |
Basis of Presentation and Accou
Basis of Presentation and Accounting Policies | 3 Months Ended |
Feb. 04, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Accounting Policies | Note 1 Basis of Presentation and Accounting Policies The accompanying unaudited consolidated financial statements for the three months ended February 4, 2017 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. The unaudited financial information included in this report includes all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary to reflect a fair statement of the results for the interim periods. The results of operations for the three months ended February 4, 2017 are not necessarily indicative of the results of the full fiscal year. The condensed consolidated financial statements included in this report should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K Recently Issued Accounting Pronouncements – No. 2016-02, 2016-02). 2016-02 2016-02 right-of-use In November 2015, the FASB issued ASU No. 2015-17 2015-17). 2015-17 2015-17 In July 2015, the FASB issued ASU No. 2015-11, last-in, first-out first-in, first-out In May 2014, the FASB issued ASU No. 2014-09, No. 2015-14 2014-09 |
Inventories
Inventories | 3 Months Ended |
Feb. 04, 2017 | |
Inventory Disclosure [Abstract] | |
Inventories | Note 2 Inventories New home inventory is carried at the lower of cost or market value. The cost of finished home inventories determined on the specific identification method is removed from inventories and recorded as a component of cost of sales at the time revenue is recognized. Under the specific identification method, if finished home inventory can be sold for a profit there is no basis to write down the inventory below the lower of cost or fair market value. The Company acquired certain repossessed pre-owned st Other pre-owned st st st st st st Pre-owned trade-ins (Trade-in Trade-in Other inventory costs are determined on a first-in, first-out A breakdown of the elements of inventory is as follows: February 4, November 5, 2017 2016 Raw materials $ 754,593 $ 717,525 Work-in-process 113,288 120,693 Finished homes 6,592,581 6,025,268 Model home furniture and others 113,181 105,595 Inventories $ 7,573,643 $ 6,969,081 Pre-owned $ 3,646,843 $ 4,014,119 Inventory impairment reserve (896,486 ) (984,815 ) 2,750,357 3,029,304 Less homes expected to sell in 12 months (1,617,393 ) (1,295,694 ) Pre-owned $ 1,132,964 $ 1,733,610 |
Short-term Investments
Short-term Investments | 3 Months Ended |
Feb. 04, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Short-term Investments | Note 3 Short-term Investments The following is a summary of short-term investments (available for sale): February 4, 2017 Amortized Gross Gross Estimated Equity securities in a public company $ 167,930 $ 428,262 $ — $ 596,192 November 5, 2016 Amortized Gross Gross Estimated Equity securities in a public company $ 167,930 $ 313,095 $ — $ 481,025 The fair values were estimated based on quoted market prices in active markets at each respective period end. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Feb. 04, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 4 Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, accounts and notes receivable, accounts payable and accrued expenses approximates fair value because of the short maturity of those instruments. The Company accounts for the fair value of financial investments in accordance with FASB Accounting Standards Codification (ASC) No. 820 “Fair Value Measurements” (ASC 820). ASC 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. exit price) in an orderly transaction between market participants at the measurement date. ASC 820 requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e. inputs) used in the valuation. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. The ASC 820 fair value hierarchy is defined as follows: • Level 1 - Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 - Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. • Level 3 - Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The following tables represent the Company’s financial assets and liabilities which are carried at fair value. February 4, 2017 Level 1 Level 2 Level 3 Equity securities in a public company $ 596,192 $ — $ — November 5, 2016 Level 1 Level 2 Level 3 Equity securities in a public company $ 481,025 $ — $ — |
Investment in Retirement Commun
Investment in Retirement Community Limited Partnership | 3 Months Ended |
Feb. 04, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investment in Retirement Community Limited Partnership | Note 5 Investment in Retirement Community Limited Partnership The Company has a 31.3% limited partnership interest in Walden Woods South LLC (“Walden Woods”), which owns and operates a retirement community. The Company’s investment in Walden Woods is fully impaired at February 4, 2017 and November 5, 2016. The following is summarized financial information of Walden Woods*: December 31, September 30, 2016 2016 Total Assets $ 3,424,833 $ 3,747,081 Total Liabilities $ 5,739,705 $ 5,902,402 Total Deficit $ (2,314,872 ) $ (2,155,321 ) * Due to Walden Woods having a calendar year-end, |
Warranty Costs
Warranty Costs | 3 Months Ended |
Feb. 04, 2017 | |
Guarantees [Abstract] | |
Warranty Costs | Note 6 Warranty Costs The Company provides for a limited warranty as the manufactured homes are sold. Amounts related to these warranties are as follows: Three Months Ended February 4, January 30, 2017 2016 Beginning accrued warranty expense $ 125,000 $ 100,000 Less: reduction for payments (88,846 ) (143,468 ) Plus: additions to accrual 88,846 143,468 Ending accrued warranty expense $ 125,000 $ 100,000 The Company’s limited warranty covers substantial defects in material or workmanship in specified components of the home including structural elements, plumbing systems, electrical systems, and heating and cooling systems which are supplied by the Company that may occur under normal use and service during a period of twelve (12) months from the date of delivery to the original homeowner, and applies to the original homeowner or any subsequent homeowner to whom this product is transferred during the duration of this twelve (12) month period. The Company tracks the warranty claims per home. Based on the history of the warranty claims, the Company has determined that a majority of warranty claims usually occur within the first three months after the home is sold. The Company determines its warranty accrual using the last three months of home sales. Accrued warranty costs are included in accrued expenses in the accompanying consolidated balance sheets. |
Net Income per Share
Net Income per Share | 3 Months Ended |
Feb. 04, 2017 | |
Earnings Per Share [Abstract] | |
Net Income per Share | Note 7 Net Income per Share These financial statements include “basic” and “diluted” net income per share information for all periods presented. The basic net income per share is calculated by dividing net income by the weighted-average number of shares outstanding. The diluted net income per share is calculated by dividing net income by the weighted-average number of shares outstanding, adjusted for dilutive common shares. |
Revenues by Products and Servic
Revenues by Products and Service | 3 Months Ended |
Feb. 04, 2017 | |
Segment Reporting [Abstract] | |
Revenues by Products and Service | Note 8 Revenues by Products and Service Revenues by net sales from manufactured housing, pre-owned Three Months Ended February 4, January 30, 2017 2016 Manufactured housing $ 8,020,617 $ 7,215,341 Pre-owned 485,264 107,316 Insurance agent commissions 67,519 51,393 Total net sales $ 8,573,400 $ 7,374,050 |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 3 Months Ended |
Feb. 04, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Note 9 Commitments and Contingent Liabilities Majestic 21 – On May 20, 2009, the Company became a 50% guarantor on a $5 million note payable entered into by Majestic 21, a joint venture in which the Company owns a 50% interest. This guarantee was a requirement of the bank that provided the $5 million loan to Majestic 21. The $5 million guarantee of Majestic 21’s debt is for the life of the note which matures on the earlier of May 31, 2019 or when the principal balance is less than $750,000. The amount of the guarantee declines with the amortization and repayment of the loan. As collateral for the loan, 21 st st |
Subsequent Event
Subsequent Event | 3 Months Ended |
Feb. 04, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Event | Note 10 Subsequent Event The Board of Directors 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 . |
Basis of Presentation and Acc16
Basis of Presentation and Accounting Policies (Policies) | 3 Months Ended |
Feb. 04, 2017 | |
Fair Value Disclosures [Abstract] | |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements – No. 2016-02, 2016-02). 2016-02 2016-02 right-of-use In November 2015, the FASB issued ASU No. 2015-17 2015-17). 2015-17 2015-17 In July 2015, the FASB issued ASU No. 2015-11, last-in, first-out first-in, first-out In May 2014, the FASB issued ASU No. 2014-09, No. 2015-14 2014-09 |
Fair Value Measurements | The Company accounts for the fair value of financial investments in accordance with FASB Accounting Standards Codification (ASC) No. 820 “Fair Value Measurements” (ASC 820). ASC 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. exit price) in an orderly transaction between market participants at the measurement date. ASC 820 requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e. inputs) used in the valuation. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. The ASC 820 fair value hierarchy is defined as follows: • Level 1 - Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 - Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. • Level 3 - Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Feb. 04, 2017 | |
Inventory Disclosure [Abstract] | |
Summary of Breakdown of Elements of Inventory | A breakdown of the elements of inventory is as follows: February 4, November 5, 2017 2016 Raw materials $ 754,593 $ 717,525 Work-in-process 113,288 120,693 Finished homes 6,592,581 6,025,268 Model home furniture and others 113,181 105,595 Inventories $ 7,573,643 $ 6,969,081 Pre-owned $ 3,646,843 $ 4,014,119 Inventory impairment reserve (896,486 ) (984,815 ) 2,750,357 3,029,304 Less homes expected to sell in 12 months (1,617,393 ) (1,295,694 ) Pre-owned $ 1,132,964 $ 1,733,610 |
Short-term Investments (Tables)
Short-term Investments (Tables) | 3 Months Ended |
Feb. 04, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Short-term Investments | The following is a summary of short-term investments (available for sale): February 4, 2017 Amortized Gross Gross Estimated Equity securities in a public company $ 167,930 $ 428,262 $ — $ 596,192 November 5, 2016 Amortized Gross Gross Estimated Equity securities in a public company $ 167,930 $ 313,095 $ — $ 481,025 |
Fair Value of Financial Instr19
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Feb. 04, 2017 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets and Liabilities Measured at Fair Value | The following tables represent the Company’s financial assets and liabilities which are carried at fair value. February 4, 2017 Level 1 Level 2 Level 3 Equity securities in a public company $ 596,192 $ — $ — November 5, 2016 Level 1 Level 2 Level 3 Equity securities in a public company $ 481,025 $ — $ — |
Investment in Retirement Comm20
Investment in Retirement Community Limited Partnership (Tables) | 3 Months Ended |
Feb. 04, 2017 | |
Walden Woods South LLC [Member] | |
Summarized Financial Information | The following is summarized financial information of Walden Woods*: December 31, September 30, 2016 2016 Total Assets $ 3,424,833 $ 3,747,081 Total Liabilities $ 5,739,705 $ 5,902,402 Total Deficit $ (2,314,872 ) $ (2,155,321 ) * Due to Walden Woods having a calendar year-end, |
Warranty Costs (Tables)
Warranty Costs (Tables) | 3 Months Ended |
Feb. 04, 2017 | |
Guarantees [Abstract] | |
Summary of Amounts Related to Limited Warranty | Amounts related to these warranties are as follows: Three Months Ended February 4, January 30, 2017 2016 Beginning accrued warranty expense $ 125,000 $ 100,000 Less: reduction for payments (88,846 ) (143,468 ) Plus: additions to accrual 88,846 143,468 Ending accrued warranty expense $ 125,000 $ 100,000 |
Revenues by Products and Serv22
Revenues by Products and Service (Tables) | 3 Months Ended |
Feb. 04, 2017 | |
Segment Reporting [Abstract] | |
Revenues by Net Sales | Revenues by net sales from manufactured housing, pre-owned Three Months Ended February 4, January 30, 2017 2016 Manufactured housing $ 8,020,617 $ 7,215,341 Pre-owned 485,264 107,316 Insurance agent commissions 67,519 51,393 Total net sales $ 8,573,400 $ 7,374,050 |
Inventories - Summary of Breakd
Inventories - Summary of Breakdown of Elements of Inventory (Detail) - USD ($) | Feb. 04, 2017 | Nov. 05, 2016 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 754,593 | $ 717,525 |
Work-in-process | 113,288 | 120,693 |
Finished homes | 6,592,581 | 6,025,268 |
Model home furniture and others | 113,181 | 105,595 |
Inventories | 7,573,643 | 6,969,081 |
Pre-owned homes | 3,646,843 | 4,014,119 |
Inventory impairment reserve | (896,486) | (984,815) |
Pre-owned homes, net | 2,750,357 | 3,029,304 |
Pre-owned homes, net | 2,750,357 | 3,029,304 |
Less homes expected to sell in 12 months | (1,617,393) | (1,295,694) |
Pre-owned homes, long-term | $ 1,132,964 | $ 1,733,610 |
Short-term Investments - Summar
Short-term Investments - Summary of Short-term Investments (Detail) - USD ($) | Feb. 04, 2017 | Nov. 05, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Available-for-sale Securities, Amortized Cost | $ 167,930 | $ 167,930 |
Available-for-sale Securities, Gross Unrealized Gains | 428,262 | 313,095 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Estimated Fair Value | $ 596,192 | $ 481,025 |
Fair Values of Financial Invest
Fair Values of Financial Investments - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) | Feb. 04, 2017 | Nov. 05, 2016 |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Equity securities in a public company | $ 596,192 | $ 481,025 |
Level 1 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Equity securities in a public company | $ 596,192 | $ 481,025 |
Investment in Retirement Comm26
Investment in Retirement Community Limited Partnerships - Additional Information (Detail) | Feb. 04, 2017 |
Walden Woods South LLC [Member] | |
Investments [Line Items] | |
Percentage of limited partnership ownership interest | 31.30% |
Investment in Retirement Comm27
Investment in Retirement Community Limited Partnership - Summarized Financial Information of Walden Woods (Detail) - Walden Woods South LLC [Member] - USD ($) | Dec. 31, 2016 | Sep. 30, 2016 |
Schedule of Equity Method Investments [Line Items] | ||
Total Assets | $ 3,424,833 | $ 3,747,081 |
Total Liabilities | 5,739,705 | 5,902,402 |
Total Deficit | $ (2,314,872) | $ (2,155,321) |
Warranty Costs - Summary of Amo
Warranty Costs - Summary of Amounts Related to Limited Warranty (Detail) - USD ($) | 3 Months Ended | |
Feb. 04, 2017 | Jan. 30, 2016 | |
Accounting Policies [Abstract] | ||
Beginning accrued warranty expense | $ 125,000 | $ 100,000 |
Less: reduction for payments | (88,846) | (143,468) |
Plus: additions to accrual | 88,846 | 143,468 |
Ending accrued warranty expense | $ 125,000 | $ 100,000 |
Warranty Costs - Additional Inf
Warranty Costs - Additional Information (Detail) | 3 Months Ended |
Feb. 04, 2017 | |
Accounting Policies [Abstract] | |
Warranty period of homes | 12 months |
Revenues by Products and Serv30
Revenues by Products and Service - Revenues by Net Sales (Detail) - USD ($) | 3 Months Ended | |
Feb. 04, 2017 | Jan. 30, 2016 | |
Sales Information [Line Items] | ||
Total net sales | $ 8,573,400 | $ 7,374,050 |
Manufactured Housing [Member] | ||
Sales Information [Line Items] | ||
Total net sales | 8,020,617 | 7,215,341 |
Pre-Owned Homes [Member] | ||
Sales Information [Line Items] | ||
Total net sales | 485,264 | 107,316 |
Insurance Agent Commissions [Member] | ||
Sales Information [Line Items] | ||
Total net sales | $ 67,519 | $ 51,393 |
Commitments and Contingent Li31
Commitments and Contingent Liabilities - Additional Information (Detail) | 3 Months Ended |
Feb. 04, 2017USD ($) | |
Commitments And Contingencies [Line Items] | |
Percentage of joint venture loan guaranteed by company | 50.00% |
Guarantee obligations note payable principal amount | $ 5,000,000 |
Guarantee obligations maximum limit of note payable principal amount for maturity | $ 750,000 |
Guarantee obligations principal balance of pool of loans percentage | 80.00% |
Percentage of collateral value for pool of loan securing note | 100.00% |
Guarantee obligations outstanding note payable principal amount | $ 820,679 |
Collateral value for pool of loan securing note payable by joint venture | $ 1,719,841 |
Majestic 21 [Member] | |
Commitments And Contingencies [Line Items] | |
Percentage of ownership interest | 50.00% |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Detail) - Subsequent Event [Member] | Mar. 10, 2017$ / shares |
Subsequent Event [Line Items] | |
Dividend declaration date | Mar. 10, 2017 |
Dividend declared | $ 0.15 |
Dividend payable date | Apr. 17, 2017 |
Dividend record date | Mar. 27, 2017 |