SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549



FORM 10-Q



QUARTERLY REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934



For the quarterly period
ended July 31, 2017



Commission File No. 1-5926



|MILLER
    INDUSTRIES, INC.                            
|-------------------------------------------------------
|(Exact Name of Registrant as Specified in its
 Charter)



|Florida                                                        |  | 59-0996356                          
|-------------------------------------------------------------- |  | ------------------------------------
|(State or Other Jurisdiction of
Incorporation or Organization) |  | (I.R.S. Employer
Identification No.)



|16295 N.W. 13th Avenue, Miami,  Florida  33169
|----------------------------------------------
|(Address of Principal Executive Offices       



|(305) 621-0501                                     
|---------------------------------------------------
|(Registrant’s telephone number, including area code



Indicate by check mark
whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.



Yes  ̈
No þ



Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting
company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.



Large accelerated filer  ̈Accelerated filer  ̈ Non-accelerated filer  ̈Smaller reporting company þEmerging
growth company  ̈





If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ̈



Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter
period that the registrant was required to submit and post such files).



Yes  ̈
No þ



Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act).



Yes  ̈
No þ



The number of shares
outstanding of each of the issuer’s classes of common stock, par value $.05 per share, as of July 31, 2017 is 5,000,000 shares.




















MILLER INDUSTRIES, INC.

FORM 10-Q

July 31, 2017



INDEX





|                           |                                                                                       | Page
|-------------------------- | ------------------------------------------------------------------------------------- | ----
|                           |                                                                                       |     
|PART I:                    | FINANCIAL INFORMATION                                                                 |     
|                           |                                                                                       |     
|Item 1.                    | Financial Statements                                                                  |     
|                           |                                                                                       |     
|                           | Balance Sheet as of July 31, 2017                                                     | 1   
|                           |                                                                                       |     
|                           | Balance Sheet of April 30, 2017                                                       | 2   
|                           |                                                                                       |     
|                           | Statement of Operations - Three Months Ended July 31, 2016 and 2017                   | 3   
|                           |                                                                                       |     
|                           | Statement of Cash Flows - Three Months Ended July 31, 2016 and 2017                   | 4   
|                           |                                                                                       |     
|                           | Notes to Financial Statements                                                         | 5   
|                           |                                                                                       |     
|Item 2.                    | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 6   
|                           |                                                                                       |     
|Item 3.                    | Quantitative and Qualitative Disclosure about Market Risk                             | 7   
|                           |                                                                                       |     
|Item 4.                    | Controls and Procedures                                                               | 7   
|                           |                                                                                       |     
|PART II: OTHER INFORMATION |                                                                                      
|                           |                                                                                       |     
|Items 1 to 6               |                                                                                       | 8   
|                           |                                                                                       |     
|Signatures                 |                                                                                       | 9   



- i -







MILLER INDUSTRIES, INC.

BALANCE SHEET

July 31, 2017

(UNAUDITED)



|                                                                                              |  | July 31, 2017 |          
|--------------------------------------------------------------------------------------------- |  | ------------- | ---------
|ASSETS                                                                                        |  |               |          
|                                                                                              |  |               |          
|Investment Property:                                                                          |  |               |          
|Land                                                                                          |  | $             | 161,443  
|Building and Improvements                                                                     |  |               | 1,049,908
|Machinery and Equipment                                                                       |  |               | 11,106   
|Furniture and Fixtures                                                                        |  |               | 10,251   
|Total Cost                                                                                    |  | $             | 1,232,708
|Less:  Accumulated Depreciation                                                               |  |               | 968,790  
|Net Book Value                                                                                |  | $             | 263,918  
|Other Assets:                                                                                 |  |               |          
|Cash and Cash Equivalents                                                                     |  | $             | 2,030,699
|Accounts Receivable                                                                           |  |               | 1,027    
|Prepaid Expenses and Other Assets                                                             |  |               | 13,415   
|Loan Costs, Less Accumulated Amortization of $8,230                                           |  |               | 2,505    
|Deferred Tax                                                                                  |  |               | 38,334   
|Total Other Assets                                                                            |  | $             | 2,085,980
|                                                                                              |  |               |          
|TOTAL ASSETS                                                                                  |  | $             | 2,349,898
|                                                                                              |  |               |          
|LIABILITIES AND SHAREHOLDERS’ EQUITY                                                          |  |               |          
|Liabilities:                                                                                  |  |               |          
|Mortgage and Notes Payable                                                                    |  | $             | 1,015,195
|Accounts Payable and Accrued Expenses                                                         |  |               | 170,368  
|Income Taxes Payable                                                                          |  |               | 13,907   
|Tenant’s Deposits and Advance Rent                                                            |  |               | 108,710  
|                                                                                              |  |               |          
|Total Liabilities                                                                             |  | $             | 1,308,180
|                                                                                              |  |               |          
|Shareholders’ Equity:                                                                         |  |               |          
|Common Stock - $.05 par, 5,000,000 shares Authorized; 5,000,000 shares issued and Outstanding |  | $             | 250,000  
|Paid-In Capital                                                                               |  |               | 1,212,102
|Deficit                                                                                       |  |               | (420,384 
|                                                                                              |  |               |          
|Total Shareholders’ Equity                                                                    |  | $             | 1,041,718
|                                                                                              |  |               |          
|TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY                                                    |  | $             | 2,349,898



See Accompanying Notes to Financial Statements.



1







MILLER INDUSTRIES, INC.

BALANCE SHEET

April 30, 2017



|                                                                                              |  | April 30, 2017 |          
|--------------------------------------------------------------------------------------------- |  | -------------- | ---------
|ASSETS                                                                                        |  |                |          
|                                                                                              |  |                |          
|Investment Property:                                                                          |  |                |          
|Land                                                                                          |  | $              | 161,443  
|Building and Improvements                                                                     |  |                | 1,049,908
|Machinery and Equipment                                                                       |  |                | 11,106   
|Furniture and Fixtures                                                                        |  |                | 10,251   
|Total Cost                                                                                    |  | $              | 1,232,708
|Less:  Accumulated Depreciation                                                               |  |                | 965,819  
|Net Book Value                                                                                |  | $              | 266,889  
|Other Assets:                                                                                 |  |                |          
|Cash and Cash Equivalents                                                                     |  | $              | 2,007,930
|Accounts Receivable                                                                           |  |                | 1,034    
|Prepaid Expenses and Other Assets                                                             |  |                | 18,287   
|Prepaid Income Taxes                                                                          |  |                | 16,343   
|Loan Costs, Less Accumulated Amortization of $7,962                                           |  |                | 2,773    
|Deferred Tax                                                                                  |  |                | 39,804   
|Total Other Assets                                                                            |  | $              | 2,085,451
|                                                                                              |  |                |          
|TOTAL ASSETS                                                                                  |  | $              | 2,352,340
|                                                                                              |  |                |          
|LIABILITIES AND SHAREHOLDERS’ EQUITY                                                          |  |                |          
|Liabilities:                                                                                  |  |                |          
|Mortgage and Notes Payable                                                                    |  | $              | 1,026,340
|Accounts Payable and Accrued Expenses                                                         |  |                | 160,071  
|Tenant’s Deposits and Advance Rent                                                            |  |                | 182,221  
|Total Liabilities                                                                             |  | $              | 1,368,632
|                                                                                              |  |                |          
|Shareholders’ Equity:                                                                         |  |                |          
|Common Stock - $.05 par, 5,000,000 shares Authorized; 5,000,000 shares issued and Outstanding |  | $              | 250,000  
|Paid-In Capital                                                                               |  |                | 1,212,102
|Deficit                                                                                       |  |                | (478,394 
|                                                                                              |  |                |          
|Total Shareholders’ Equity                                                                    |  | $              | 983,708  
|                                                                                              |  |                |          
|TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY                                                    |  | $              | 2,352,340



See Accompanying Notes to Financial Statements.



2







MILLER INDUSTRIES, INC.

STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED JULY 31, 2017
AND 2016

(UNAUDITED)



|                                           |  | 7/31/17 |           |  | 7/31/16 |  
|------------------------------------------ |  | ------- | --------- |  | ------- | -
|Revenues:                                  |  |         |           |  |         |  
|Rental Income                              |  | $       | 157,472   |  |         | $
|Utilities reimbursement                    |  |         | 19,970    |  |         |  
|Other Income                               |  |         | 1,667     |  |         |  
|                                           |  |         |           |  |         |  
|Total Revenues                             |  | $       | 179,109   |  |         | $
|                                           |  |         |           |  |         |  
|Expenses:                                  |  |         |           |  |         |  
|Rental Expenses (Except Interest)          |  | $       | 72,279    |  |         | $
|Administrative                             |  |         | 11,338    |  |         |  
|Interest                                   |  |         | 6,482     |  |         |  
|                                           |  |         |           |  |         |  
|Total Expenses                             |  | $       | 90,099    |  |         | $
|                                           |  |         |           |  |         |  
|Income (Loss) Before Tax Provision         |  | $       | 89,010    |  |         | $
|                                           |  |         |           |  |         |  
|Provision (Credit) for Income Tax:         |  |         |           |  |         |  
|Federal Income Tax                         |  | $       | 27,000    |  |         | $
|State Income Tax                           |  |         | 4,000     |  |         |  
|                                           |  |         |           |  |         |  
|Total Provision for Income Tax             |  | $       | 31,000    |  |         | $
|                                           |  |         |           |  |         |  
|Net Income (Loss)                          |  | $       | 58,010    |  |         | $
|                                           |  |         |           |  |         |  
|Income per Common Share (Basic)            |  | $       | .01       |  |         | $
|                                           |  |         |           |  |         |  
|Average Shares of Common Stock Outstanding |  |         | 5,000,000 |  |         |  



See Accompanying Notes to Financial
Statements.



3







MILLER INDUSTRIES, INC.

STATEMENT OF CASH FLOWS

FOR THE THREE MONTHS ENDED JULY 31, 2017
AND 2016

(UNAUDITED)



|                                                    |  | 7/31/17 |           |   | 7/31/16 |  
|--------------------------------------------------- |  | ------- | --------- | - | ------- | -
|Cash Flows from Operating Activities:               |  |         |           |   |         |  
|                                                    |  |         |           |   |         |  
|Net Income (Loss)                                   |  | $       | 58,010    |   |         | $
|Adjustments to Reconcile Net Income to Net Cash     |  |         | 19,970    |   |         |  
|Provided by (used for) Operating Activities:        |  |         |           |   |         |  
|Depreciation                                        |  |         | 2,971     |   |         |  
|Amortization                                        |  |         |           |   |         |  
|Changes in Operating Assets and Liabilities         |  |         | (27,068   | ) |         |  
|                                                    |  |         |           |   |         |  
|Net Cash Provided by Operating Activities           |  | $       | 33,913    |   |         |  
|Cash Flows from Investing Activities:               |  |         |           |   |         |  
|Acquisition of Property, Equipment, and Intangible  |  | $       | (—        | ) |         | $
|Net Cash (used by) Investing Activities             |  | $       | (—        | ) |         | $
|                                                    |  |         |           |   |         |  
|Cash Flows from Financing Activities:               |  |         |           |   |         |  
|Principal Payments Under Borrowings                 |  | $       | (11,145   | ) |         | $
|Proceeds from Stock option purchase                 |  |         |           |   |         |  
|                                                    |  |         |           |   |         |  
|Net Cash Provided by (used by) Financing Activities |  | $       | (11,145   | ) |         | $
|Net Increase in Cash and Cash Equivalents           |  | $       | 22,768    |   |         | $
|                                                    |  |         |           |   |         |  
|Cash and Cash Equivalents at the Beginning of Year  |  |         | 2,007,930 |   |         |  
|Cash and Cash Equivalents at the End of Quarter     |  | $       | 2,030,698 |   |         | $
|                                                    |  |         |           |   |         |  
|Additional Cash Flow Information:                   |  |         |           |   |         |  
|Cash Payments During the Year                       |  |         |           |   |         |  
|Interest                                            |  | $       | 7,753     |   |         | $
|Income Taxes                                        |  | $       |           |   |         | $



See Accompanying Notes to Financial Statements.



4







MILLER
INDUSTRIES, INC.

NOTES
TO FINANCIAL STATEMENTS

JULY
31, 2017

(UNAUDITED)



Note
A – Basis of Presentation



The accompanying unaudited financial statements
have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions
to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ending
July 31, 2017 are not necessarily indicative of results that may be expected for the year ended April 30, 2018.



For further information refer to the financial
statements and footnotes thereto of the Company as of April 30, 2017 and for the year ended April 30, 2017.



Note B - Earnings Per Share -



Basic earnings per
share (“EPS”) is computed by dividing net income available to common stockholders by the weighted-average number of
common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect
to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the
treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased
from the exercise of stock options or warrants). Diluted EPS excludes all dilutive potential of shares of common stock if their
effect is anti-dilutive.



NOTE C - Use Of Estimates -



The preparation of
financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions
that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
The most significant estimates included in the preparation of the financial statements are related to income taxes, asset lives,
accruals and valuation allowances.



NOTE D – Commitments, Contingent
Liabilities, Other Matters and Subsequent Events



None.



5







ITEM 2. MANAGEMENT’S DISCUSSION
AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS



Results of Operations (First Quarter
of 2018 Fiscal Year compared to First Quarter of 2017 Fiscal Year)



Rental Income. The Company’s
results of operations are primarily dependent upon the rental income which it receives from leasing space in its building. Rental
income is a function of the percentage of the building which is occupied and the level of rental rates. Rental income during the
first quarter of 2017 was $150,000, compared to $157,000 in the first quarter of 2018.



Other Income. The Company generated
other income of $1,500 in the first quarter of fiscal year 2017 and $1,700 in 2018. Income in these quarters consisted of interest
income and miscellaneous income.



Rental Expense (Excluding Interest).
The Company incurs rental expense in connection with the leasing of its building. These expenses consist of management fees, insurance,
real estate taxes, depreciation and amortization, maintenance and repairs, utility costs and outside services. Rental expenses
were $88,000 in the first quarter of 2017 and $72,000 in the first quarter of 2018.



Administrative Expenses. The Company’s
administrative expenses were $12,000 in the first quarter of fiscal year 2017 and $11,000 in the first quarter of fiscal year 2018.



Interest Expense. The Company pays
interest on the mortgage loan on its building. Interest expense on the loan was $6,200 in the first quarter of fiscal year 2017
and $6,500 in 2018.



Provision for Income Taxes. The
Company had a tax provision of 25,300 in the first quarter of fiscal 2017 and $31,000 in the first quarter of 2018.



Net Income. As a result of the foregoing
factors, the Company had net income of $42,000 in the first quarter of fiscal 2017 and net income of $58,000 in first quarter of
2018.



Liquidity and Capital Resources



The Company’s cash increased by $106,000
during the first three months of fiscal year 2018 and $23,000 during the first three months of fiscal year 2017. The increase in
the 2018 fiscal year was due to an increase in tenant deposits and advance rent. The Company’s cash position was approximately
$2,030,000.



Current Operations



The Company operates as a real estate investment
and management company. The Company is currently seeking to obtain additional commercial tenants for its existing building.



The Company’s principal operating
expenses consist of management and professional fees associated with the administration of the Company, interest expense on the
Company’s mortgage loan, real estate taxes and insurance.



6







ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK



We are a smaller reporting issuer as defined
in Item 10 of Regulation S-K and are not required to report the quantitative and qualitative measures of market risk specified
in Item 305 of Regulation S-K.



ITEM 4. CONTROLS AND PROCEDURES



In connection with the filing of this Form
10-Q, the Company’s Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of the Company’s
disclosure controls and procedures as of July 31, 2017. The Company’s Chief Executive Officer and Chief Financial Officer
concluded that the Company’s disclosure controls and procedures were effective as of July 31, 2017.



There were no changes in the Company’s
internal controls over financial reporting that materially affected, or are reasonably likely to materially affect, the Company’s
internal control over financial reporting during the fiscal quarter ended July 31, 2017.



7







PART II. OTHER INFORMATION



| | ITEM 6. | EXHIBITS AND REPORTS ON FORM 8-K
| | ------- | --------------------------------



| | (a) | Exhibits
| | --- | --------



|Exhibit No. |  | Description                                                                                                                                                                  
|----------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|            |  |                                                                                                                                                                              
|(31.1)      |  | Certification of Chief Executive Officer pursuant to Rule 13a-14(a).                                                                                                         
|            |  |                                                                                                                                                                              
|(31.2)      |  | Certification of Chief Financial Officer pursuant to Rule 13a-14(a).                                                                                                         
|            |  |                                                                                                                                                                              
|(32.1)      |  | Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



| | (b) | Reports on Form 8-K.
| | --- | --------------------



Not applicable.



8







SIGNATURE



Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



|                          | MILLER INDUSTRIES, INC.
|------------------------- | -----------------------
|                          | (Registrant)           
|                          |                        
|                          |                        
|Dated:  November 13, 2017 | By:                    
|                          |                        
|                          |                        
|                          |                        



9